Customers Bancorp price target raised to $45 from $40 at Maxim

Maxim analyst Michael Diana raised the firm’s price target on Customers Bancorp to $45 from $40 and keeps a Buy rating on the shares. The company’s Q1 earnings beat thanks to its stable deposit base that had a favorable mix shift toward lower-cost deposits and meaningful deposit inflows in March after the collapse of Silicon Valley Bank and Signature Bank, the analyst tells investors in a research note. At 3.4-times expected 2024 earnings, the stock looks "extremely undervalued", Maxim added.