Maxim Group Remains a Buy on Customers Bancorp (CUBI)

By Jason Carr

In a report released yesterday, Michael Diana from Maxim Group reiterated a Buy rating on Customers Bancorp (CUBIResearch Report), with a price target of $27.00. The company’s shares closed last Friday at $13.28.

According to TipRanks.com, Diana has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -3.6% and a 48.9% success rate. Diana covers the Financial sector, focusing on stocks such as First Eagle Alternative Capital BDC, First Savings Financial Group, and Arlington Asset Investment.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Customers Bancorp with a $19.00 average price target.

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Based on Customers Bancorp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $103 million and net profit of $3.1 million. In comparison, last year the company earned revenue of $76.72 million and had a net profit of $9.3 million.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CUBI in relation to earlier this year.

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Customers Bancorp, Inc. operates as a bank holding company. It operates through the following segments: Customers Bank Business Banking and BankMobile. The Customers Bank Business Banking segment is delivered predominately to commercial customers in Southeastern Pennsylvania, New York, New Jersey, Massachusetts, Rhode Island, New Hampshire, Washington D.C., and Illinois through a single point of contact business model and provides liquidity to residential mortgage originators nationwide through commercial loans to mortgage companies. The BankMobile segment provides state-of-the-art high-tech digital banking and disbursement services to consumers, students and the under banked nationwide, along with Banking as a Service offerings with existing and potential white label partners. The company was founded on April 7, 2010 and is headquartered in Wyomissing, PA.