Customers Bancorp, Inc (NYSE:CUBI) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 988,271 shares, a decrease of 39.4% from the October 13th total of 1,631,581 shares. Currently, 3.4% of the company’s stock are short sold. Based on an average daily trading volume, of 326,490 shares, the short-interest ratio is currently 3.0 days.
CUBI has been the subject of a number of analyst reports. Maxim Group reissued a “buy” rating and issued a $50.00 price objective on shares of Customers Bancorp in a research report on Friday, October 20th. Zacks Investment Research raised shares of Customers Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Monday, July 31st. BidaskClub raised shares of Customers Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, September 29th. TheStreet cut shares of Customers Bancorp from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Customers Bancorp in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $40.50.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of Customers Bancorp by 2.8% in the second quarter. BlackRock Inc. now owns 3,584,410 shares of the bank’s stock valued at $101,365,000 after purchasing an additional 97,085 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Customers Bancorp by 8.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,137,437 shares of the bank’s stock valued at $69,723,000 after purchasing an additional 159,979 shares during the period. Vanguard Group Inc. increased its stake in shares of Customers Bancorp by 3.5% in the second quarter. Vanguard Group Inc. now owns 1,502,298 shares of the bank’s stock valued at $42,485,000 after purchasing an additional 50,545 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Customers Bancorp by 3.4% in the third quarter. Ameriprise Financial Inc. now owns 1,407,426 shares of the bank’s stock valued at $45,913,000 after purchasing an additional 46,459 shares during the period. Finally, State Street Corp increased its stake in shares of Customers Bancorp by 7.6% in the second quarter. State Street Corp now owns 1,114,816 shares of the bank’s stock valued at $31,530,000 after purchasing an additional 78,363 shares during the period. Hedge funds and other institutional investors own 87.57% of the company’s stock.
Customers Bancorp (NYSE:CUBI) opened at $25.91 on Tuesday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.91 and a current ratio of 1.17. Customers Bancorp has a 12-month low of $24.75 and a 12-month high of $36.93. The company has a market cap of $772.00, a PE ratio of 8.76 and a beta of 0.63.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.09). The company had revenue of $86.05 million for the quarter, compared to the consensus estimate of $80.32 million. Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. During the same period in the previous year, the business posted $0.64 EPS. research analysts forecast that Customers Bancorp will post 2.47 EPS for the current fiscal year.
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About Customers Bancorp
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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