Customers Bancorp, Inc. (NYSE:CUBI) Sees Large Decrease in Short Interest

Customers Bancorp, Inc. (NYSE:CUBI) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 2,920,000 shares, a decline of 9.3% from the June 30th total of 3,220,000 shares. Approximately 10.1% of the company’s shares are short sold. Based on an average trading volume of 386,400 shares, the short-interest ratio is presently 7.6 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SummerHaven Investment Management LLC grew its holdings in Customers Bancorp by 1.0% during the 4th quarter. SummerHaven Investment Management LLC now owns 20,202 shares of the bank’s stock worth $1,164,000 after acquiring an additional 205 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Customers Bancorp by 2.1% in the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock worth $686,000 after purchasing an additional 300 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Customers Bancorp by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank’s stock valued at $1,314,000 after buying an additional 353 shares during the last quarter. ProShare Advisors LLC raised its stake in Customers Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock valued at $306,000 after buying an additional 398 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in Customers Bancorp by 4.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 16,066 shares of the bank’s stock worth $852,000 after buying an additional 738 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Down 6.4 %

Shares of CUBI stock traded down $4.11 on Thursday, hitting $60.37. The stock had a trading volume of 494,067 shares, compared to its average volume of 341,236. The stock’s 50 day moving average is $50.65 and its 200-day moving average is $50.90. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 8.44 and a beta of 1.65. Customers Bancorp has a 52-week low of $31.16 and a 52-week high of $68.49. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $198.69 million for the quarter, compared to analyst estimates of $184.40 million. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 EPS. As a group, research analysts expect that Customers Bancorp will post 6.45 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Hovde Group cut their price objective on Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Wedbush raised their price target on shares of Customers Bancorp from $56.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 26th. DA Davidson boosted their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $76.00 target price (up previously from $65.00) on shares of Customers Bancorp in a research note on Monday. Finally, B. Riley lifted their target price on shares of Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.88.

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.