Customers Bancorp price target raised to $38.50 from $37.50 at Stephens

Stephens raised the firm’s price target on Customers Bancorp to $38.50 from $37.50 and keeps an Equal Weight rating on the shares. The company’s Q3 results continued a “strong streak,” reporting operating EPS “well ahead” the firm’s estimates, lower expenses, and a lower-than-anticipated provision, the analyst tells investors. The firm is raising its price target on the stock due to the improvement to the earnings outlook and continued improvement in deposit composition.