Customers Bancorp, Inc. (NYSE:CUBI) Short Interest Up 12.7% in June

Customers Bancorp, Inc. (NYSE:CUBI) was the target of a large growth in short interest in 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. Currently, 10.1% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Hovde Group reduced their price target on shares of Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Wedbush cut their target price on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, Jefferies Financial Group reduced their price target on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.63.

Hedge Funds Weigh In On Customers Bancorp

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new position in shares of Customers Bancorp in the 4th quarter worth $78,000. Federated Hermes Inc. boosted its position in shares of Customers Bancorp by 29,550.0% in the 3rd quarter. Federated Hermes Inc. now owns 3,558 shares of the bank’s stock valued at $123,000 after purchasing an additional 3,546 shares during the period. Aigen Investment Management LP purchased a new position in Customers Bancorp in the 4th quarter worth about $209,000. Coldstream Capital Management Inc. acquired a new stake in Customers Bancorp during the 4th quarter worth about $218,000. Finally, Cookson Peirce & Co. Inc. purchased a new stake in Customers Bancorp during the fourth quarter valued at about $234,000. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Price Performance

CUBI traded down $1.01 during trading on Wednesday, reaching $48.39. The stock had a trading volume of 140,602 shares, compared to its average volume of 314,366. Customers Bancorp has a 1-year low of $29.99 and a 1-year high of $60.09. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 6.84 and a beta of 1.65. The stock has a 50 day moving average of $46.40 and a two-hundred day moving average of $50.43. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.89.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data 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 business had revenue of $181.62 million during the quarter, compared to analyst estimates of $183.48 million. Customers Bancorp had a return on equity of 18.17% and a net margin of 16.88%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share. As a group, equities analysts anticipate 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.