Customers Bancorp, Inc. (NYSE:CUBI – Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,980,000 shares, a growth of 5.9% from the March 15th total of 1,870,000 shares. Approximately 6.8% of the shares of the company are sold short. Based on an average daily volume of 284,000 shares, the days-to-cover ratio is currently 7.0 days.
Customers Bancorp Price Performance
Shares of NYSE CUBI opened at $46.45 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp has a fifty-two week low of $15.80 and a fifty-two week high of $60.09. The stock has a market cap of $1.46 billion, a PE ratio of 6.35 and a beta of 1.67. The stock has a fifty day moving average of $51.91 and a 200-day moving average of $48.33.
Customers Bancorp (NYSE:CUBI – Get Free Report) last posted its earnings results on Thursday, January 25th. The bank reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. The business had revenue of $191.18 million during the quarter, compared to analyst estimates of $187.87 million. Equities research analysts anticipate that Customers Bancorp will post 6.85 earnings per share for the current year.
Insider Activity at Customers Bancorp
Institutional Trading of Customers Bancorp
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Customers Bancorp by 51.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 71,000 shares of the bank’s stock worth $4,091,000 after purchasing an additional 24,000 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Customers Bancorp by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,546 shares of the bank’s stock valued at $723,000 after purchasing an additional 752 shares in the last quarter. Virtue Capital Management LLC purchased a new stake in Customers Bancorp in the fourth quarter valued at approximately $696,000. Hanseatic Management Services Inc. bought a new stake in Customers Bancorp during the fourth quarter valued at approximately $183,000. Finally, Legal & General Group Plc grew its stake in Customers Bancorp by 0.4% in the 4th quarter. Legal & General Group Plc now owns 81,576 shares of the bank’s stock worth $4,700,000 after buying an additional 329 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Raymond James raised their target price on Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. Wedbush reduced their target price on shares of Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Jefferies Financial Group boosted their price objective on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, B. Riley boosted their price objective on Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Customers Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $61.86.
Check Out Our Latest Stock Analysis on CUBI
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.
Featured Articles
- Five stocks we like better than Customers Bancorp
- Insider Buying Explained: What Investors Need to Know
- United Airlines Soars on Earnings Beat
- Industrial Products Stocks Investing
- J.B. Hunt Hits the Skids: Lower Prices to Come
- What is the NASDAQ Stock Exchange?
- Predicting a Bear Market: 7 Signs and Why it’s Tough to Do
Receive News & Ratings for Customers Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Customers Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.