Short Interest in Customers Bancorp, Inc. (NYSE:CUBI) Decreases By 6.1%

Customers Bancorp, Inc. (NYSE:CUBI) was the recipient 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. Currently, 6.4% of the company’s shares are sold short. Based on an average daily trading volume, of 281,400 shares, the short-interest ratio is presently 6.6 days.

Insiders Place Their Bets

In other Customers Bancorp news, CFO Carla A. Leibold sold 35,832 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the sale, the chief financial officer now directly owns 41,224 shares in the company, valued at $2,191,055.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Glenn Hedde sold 666 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total transaction of $36,097.20. Following the transaction, the insider now directly owns 69,428 shares of the company’s stock, valued at $3,762,997.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Carla A. Leibold sold 35,832 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the transaction, the chief financial officer now owns 41,224 shares in the company, valued at $2,191,055.60. The disclosure for this sale can be found here. Company insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

Several institutional investors have recently bought and sold shares of the company. Cornercap Investment Counsel Inc. bought a new stake in shares of Customers Bancorp in the fourth quarter valued at $1,254,000. Assenagon Asset Management S.A. lifted its holdings in Customers Bancorp by 99.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 183,169 shares of the bank’s stock valued at $10,554,000 after purchasing an additional 91,311 shares during the last quarter. Victory Capital Management Inc. bought a new position in Customers Bancorp during the third quarter worth about $1,712,000. Numerai GP LLC purchased a new position in shares of Customers Bancorp in the third quarter worth about $363,000. Finally, American Century Companies Inc. raised its position 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 valued at $12,566,000 after purchasing an additional 46,347 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Up 0.9 %

Shares of NYSE:CUBI opened at $46.06 on Thursday. Customers Bancorp has a 1 year low of $15.80 and a 1 year high of $60.09. The company has a market capitalization of $1.45 billion, a PE ratio of 6.43 and a beta of 1.67. The business has a fifty day moving average price of $51.14 and a two-hundred day moving average price of $49.41. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.93 and a quick ratio of 0.91.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Friday, April 26th. The bank reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.05. The company had revenue of $181.62 million during the quarter, compared to analyst estimates of $183.48 million. Customers Bancorp had a net margin of 16.88% and a return on equity of 18.17%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.58 earnings per share. Analysts forecast that Customers Bancorp will post 6.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wedbush reduced their price objective on shares of Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, April 26th. B. Riley boosted their price objective on Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Jefferies Financial Group raised their target price on Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Raymond James upped their price target on Customers Bancorp from $65.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, January 29th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

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.