Customers Bancorp, Inc. (NYSE:CUBI – Get Free Report) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 2,920,000 shares, an increase of 12.7% from the May 31st total of 2,590,000 shares. Approximately 10.1% of the shares of the stock are short sold. Based on an average daily volume of 319,000 shares, the short-interest ratio is presently 9.2 days.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on CUBI shares. Wedbush dropped their target price on shares of Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Hovde Group cut their price objective on Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Finally, Jefferies Financial Group boosted their target price on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.50.
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Institutional Investors Weigh In On Customers Bancorp
Customers Bancorp Trading Up 0.9 %
CUBI traded up $0.43 on Monday, hitting $48.41. The company had a trading volume of 172,890 shares, compared to its average volume of 313,130. The business’s fifty day simple moving average is $46.43 and its 200 day simple moving average is $50.49. 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 has a 12-month low of $29.99 and a 12-month high of $60.09. The company has a market cap of $1.52 billion, a PE ratio of 6.76 and a beta of 1.63.
Customers Bancorp (NYSE:CUBI – Get Free Report) last released its 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 firm had revenue of $181.62 million for the quarter, compared to the consensus estimate 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 for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. Equities research analysts expect that Customers Bancorp will post 6.35 EPS for the current year.
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.
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