Wed Sep 25 07:22:55 UTC 2024: ## Customers Bancorp Stock Rating Downgraded by Wedbush, Others Remain Bullish

**New York, NY** – Wedbush Securities downgraded Customers Bancorp (NYSE: CUBI) from “outperform” to “neutral” on Tuesday, citing concerns about the bank’s future prospects. The firm also lowered its price target on the stock from $79.00 to $53.00.

This move contrasts with other analysts who remain optimistic about CUBI’s performance. DA Davidson recently increased its price target to $79.00, maintaining a “buy” rating, while B. Riley raised its target to $78.00, also with a “buy” rating.

However, not all analysts share this optimism. Keefe, Bruyette & Woods and Hovde Group both downgraded CUBI’s rating, with the latter cutting it to “market perform” and setting a $49.00 price target. Jefferies Financial Group maintained a “buy” rating but reduced its price objective to $57.00.

Despite the mixed opinions, MarketBeat.com currently gives CUBI a “Moderate Buy” consensus rating with an average target price of $62.25.

Customers Bancorp recently reported strong second-quarter earnings, exceeding analysts’ expectations on both earnings per share and revenue. The company’s net margin and return on equity also showed positive results.

In other news, CEO Samvir S. Sidhu purchased 2,500 shares of CUBI stock at an average cost of $45.53 per share, indicating confidence in the company’s future.

Institutional investors have also been active in CUBI, with several firms increasing their holdings in recent months. Currently, 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp provides financial products and services to individuals, small and middle-market businesses. The company’s core offerings include deposit banking products, commercial and consumer checking, and time deposit accounts.

**Disclaimer:** This news article is based on publicly available information and should not be considered financial advice. Investors should conduct their own due diligence before making any investment decisions.

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