Short Interest in Customers Bancorp, Inc. (NYSE:CUBI) Increases By 5.5%

Customers Bancorp, Inc. (NYSE:CUBI) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,880,000 shares, a growth of 5.5% from the September 15th total of 2,730,000 shares. Based on an average daily volume of 459,100 shares, the short-interest ratio is presently 6.3 days. Currently, 9.9% of the company’s shares are sold short.

Customers Bancorp Stock Down 0.2 %

Shares of Customers Bancorp stock traded down $0.11 on Thursday, reaching $47.94. 350,764 shares of the company were exchanged, compared to its average volume of 360,385. The stock’s 50 day moving average price is $47.62 and its 200-day moving average price is $49.26. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91. Customers Bancorp has a 1-year low of $31.16 and a 1-year high of $68.49. The company has a market cap of $1.51 billion, a P/E ratio of 6.70 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The company had revenue of $198.69 million during the quarter, compared to analysts’ expectations of $184.40 million. During the same quarter in the previous year, the business posted $1.65 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. As a group, equities analysts forecast that Customers Bancorp will post 6.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CUBI shares. Raymond James reduced their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. Hovde Group cut Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research note on Friday, August 9th. Keefe, Bruyette & Woods lowered their price target on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Wedbush downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. Finally, Jefferies Financial Group lowered their target price on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.00.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Samvir S. Sidhu bought 2,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $45.53 per share, with a total value of $113,825.00. Following the completion of the purchase, the chief executive officer now directly owns 144,504 shares in the company, valued at $6,579,267.12. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Customers Bancorp

Several large investors have recently bought and sold shares of CUBI. Dimensional Fund Advisors LP raised its holdings in Customers Bancorp by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock worth $107,575,000 after purchasing an additional 21,302 shares in the last quarter. Vanguard Group Inc. raised its stake in Customers Bancorp by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after acquiring an additional 111,654 shares in the last quarter. American Century Companies Inc. lifted its position in Customers Bancorp by 14.6% in the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock valued at $32,954,000 after acquiring an additional 87,557 shares during the last quarter. Hood River Capital Management LLC boosted its stake in Customers Bancorp by 94.3% in the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock valued at $26,344,000 after acquiring an additional 266,462 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Customers Bancorp by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 261,907 shares of the bank’s stock worth $12,566,000 after purchasing an additional 829 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

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.