In a report released today, Michael Diana from Maxim Group maintained a Buy rating on Customers Bancorp (CUBI), with a price target of $38. The company’s shares closed yesterday at $20.85.
Diana wrote:
“On February 14, management introduced 2020 core EPS guidance of “at least $3.00.” Our 2020 EPS estimate is $3.00, and we are maintaining it at this time, pending more clarity with the official launch of T-Mobile Money, CUBI’s white label partnership with T-Mobile (TMUS – NR), likely around mid-year 2019.”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 6.3% and a 59.3% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Westamerica Bancorporation, and Pennantpark Floating Rate.
Currently, the analyst consensus on Customers Bancorp is a Strong Buy with an average price target of $38.
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Based on Customers Bancorp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $17.86 million. In comparison, last year the company had a net profit of $21.62 million.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock.
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Customers Bancorp, Inc. operates as a bank holding company. The company, through its subsidiary Customers Bank, offers financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches in Southeastern Pennsylvania, New York, New Jersey, Rhode Island, New Hampshire, and Massachusetts.
