Fintel reports that on September 29, 2023, Raymond James initiated coverage of Customers Bancorp (NYSE:CUBI) with a Strong Buy recommendation.
Analyst Price Forecast Suggests 55.48% Upside
As of August 31, 2023, the average one-year price target for Customers Bancorp is 50.30. The forecasts range from a low of 37.88 to a high of $57.75. The average price target represents an increase of 55.48% from its latest reported closing price of 32.35.
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The projected annual revenue for Customers Bancorp is 623MM, an increase of 9.08%. The projected annual non-GAAP EPS is 6.12.
What is the Fund Sentiment?
There are 479 funds or institutions reporting positions in Customers Bancorp. This is a decrease of 16 owner(s) or 3.23% in the last quarter. Average portfolio weight of all funds dedicated to CUBI is 0.11%, an increase of 7.63%. Total shares owned by institutions decreased in the last three months by 4.01% to 30,029K shares. 
The put/call ratio of CUBI is 0.85, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,049K shares representing 6.55% ownership of the company. In it's prior filing, the firm reported owning 2,148K shares, representing a decrease of 4.83%. The firm increased its portfolio allocation in CUBI by 50.95% over the last quarter.
Wellington Management Group Llp holds 1,656K shares representing 5.29% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 939K shares representing 3.00% ownership of the company. No change in the last quarter.
Jpmorgan Chase holds 779K shares representing 2.49% ownership of the company. In it's prior filing, the firm reported owning 40K shares, representing an increase of 94.92%. The firm increased its portfolio allocation in CUBI by 22,731.24% over the last quarter.
IWM - iShares Russell 2000 ETF holds 652K shares representing 2.09% ownership of the company. In it's prior filing, the firm reported owning 674K shares, representing a decrease of 3.34%. The firm increased its portfolio allocation in CUBI by 45.75% 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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