DA Davidson Maintains Customers Bancorp (CUBI) Buy Recommendation

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.

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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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