Customers Bancorp, Inc. (NYSE:CUBI – Get Free Report) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 2,920,000 shares, a growth of 12.7% from the May 31st total of 2,590,000 shares. Based on an average daily volume of 319,000 shares, the days-to-cover ratio is currently 9.2 days. Approximately 10.1% of the company’s shares are short sold.
Analyst Upgrades and Downgrades
CUBI has been the topic of several recent research reports. Wedbush reduced their price target on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Jefferies Financial Group lowered their price target on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Hovde Group reduced their price objective on shares of Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.63.
View Our Latest Research Report on Customers Bancorp
Institutional Inflows and Outflows
Customers Bancorp Stock Down 2.0 %
Customers Bancorp stock traded down $1.01 during midday trading on Wednesday, reaching $48.39. The stock had a trading volume of 140,602 shares, compared to its average volume of 314,366. The stock has a market capitalization of $1.52 billion, a P/E ratio of 6.84 and a beta of 1.65. Customers Bancorp has a 1-year low of $29.99 and a 1-year high of $60.09. The firm’s fifty day simple moving average is $46.40 and its 200-day simple moving average is $50.43. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.93.
Customers Bancorp (NYSE:CUBI – Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The bank reported $1.68 EPS for the quarter, topping the consensus estimate of $1.63 by $0.05. The firm had revenue of $181.62 million for the quarter, compared to analysts’ expectations of $183.48 million. Customers Bancorp had a net margin of 16.88% and a return on equity of 18.17%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.58 EPS. As a group, analysts expect that Customers Bancorp will post 6.35 EPS for the current fiscal year.
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.
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