Fintel reports that on July 6, 2023, DA Davidson maintained coverage of Customers Bancorp (NYSE:CUBI) with a Buy recommendation.
Analyst Price Forecast Suggests 15.21% Upside
As of July 6, 2023, the average one-year price target for Customers Bancorp is 36.21. The forecasts range from a low of 25.25 to a high of $47.25. The average price target represents an increase of 15.21% from its latest reported closing price of 31.43.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Customers Bancorp is 623MM, an increase of 9.83%. The projected annual non-GAAP EPS is 6.12.
What is the Fund Sentiment?
There are 492 funds or institutions reporting positions in Customers Bancorp. This is a decrease of 46 owner(s) or 8.55% in the last quarter. Average portfolio weight of all funds dedicated to CUBI is 0.10%, a decrease of 24.03%. Total shares owned by institutions decreased in the last three months by 5.36% to 31,382K shares. 
The put/call ratio of CUBI is 1.24, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF holds 2,148K shares representing 6.87% ownership of the company. No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 939K shares representing 3.00% ownership of the company. In it’s prior filing, the firm reported owning 940K shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in CUBI by 39.72% over the last quarter.
KRE – SPDR(R) S&P Regional Banking(SM) ETF holds 786K shares representing 2.51% ownership of the company. In it’s prior filing, the firm reported owning 382K shares, representing an increase of 51.33%. The firm increased its portfolio allocation in CUBI by 28.47% over the last quarter.
IWM – iShares Russell 2000 ETF holds 674K shares representing 2.16% ownership of the company. No change in the last quarter.
Jacobs Levy Equity Management holds 674K shares representing 2.16% ownership of the company. In it’s prior filing, the firm reported owning 187K shares, representing an increase of 72.25%. The firm increased its portfolio allocation in CUBI by 113.29% over the last quarter.
Customers Bancorp Background Information
(This description is provided by the company.)
Customers Bank, a subsidiary of Customers Bancorp, Inc. a bank holding company, is a full-service super-community bank with assets of approximately $18.4 billion at December 31, 2020. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking and lending services to small and medium-sized businesses, professionals, individuals and families. Services and products are available wherever permitted by law through digital-first apps, online portals, and a network of offices and branches.
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This story originally appeared on Fintel.
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