Customers Bancorp, Inc. (NYSE:CUBI – Get Free Report) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totalling 1,860,000 shares, a decrease of 6.1% from the March 31st total of 1,980,000 shares. Based on an average trading volume of 281,400 shares, the days-to-cover ratio is currently 6.6 days. Currently, 6.4% of the company’s stock are short sold.
Customers Bancorp Trading Up 0.9 %
Shares of CUBI stock opened at $46.06 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a fifty day simple moving average of $51.14 and a two-hundred day simple moving average of $49.41. The firm has a market capitalization of $1.45 billion, a PE ratio of 6.43 and a beta of 1.67. Customers Bancorp has a 52-week low of $15.80 and a 52-week high of $60.09.
Customers Bancorp (NYSE:CUBI – Get Free Report) last released its earnings results on Friday, April 26th. The bank reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.05. The firm had revenue of $181.62 million during the quarter, compared to analysts’ expectations of $183.48 million. Customers Bancorp had a return on equity of 18.17% and a net margin of 16.88%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $1.58 earnings per share. On average, analysts predict that Customers Bancorp will post 6.82 EPS for the current fiscal year.
Insider Buying and Selling at Customers Bancorp
Institutional Investors Weigh In On Customers Bancorp
Several institutional investors and hedge funds have recently modified their holdings of CUBI. Cornercap Investment Counsel Inc. bought a new position in shares of Customers Bancorp during the fourth quarter worth $1,254,000. Assenagon Asset Management S.A. lifted its stake in Customers Bancorp by 99.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 183,169 shares of the bank’s stock worth $10,554,000 after purchasing an additional 91,311 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Customers Bancorp during the 3rd quarter valued at about $1,712,000. Numerai GP LLC purchased a new position in shares of Customers Bancorp during the third quarter valued at about $363,000. Finally, American Century Companies Inc. increased its holdings in shares of Customers Bancorp by 14.6% in the third quarter. American Century Companies Inc. now owns 364,767 shares of the bank’s stock worth $12,566,000 after purchasing an additional 46,347 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.
Wall Street Analysts Forecast Growth
CUBI has been the topic of several recent research reports. B. Riley increased their price target on shares of Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Wedbush decreased their target price on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Raymond James boosted their price target on Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, January 29th. Finally, Jefferies Financial Group raised their price objective on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.29.
View Our Latest Stock Report on Customers Bancorp
Customers Bancorp Company Profile
Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.
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