Customers Bancorp, Inc. (NYSE:CUBI) Short Interest Down 9.3% in August

by · The Markets Daily

Customers Bancorp, Inc. (NYSE:CUBI – Get Free Report) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,730,000 shares, a drop of 9.3% from the August 15th total of 3,010,000 shares. Based on an average daily volume of 459,400 shares, the short-interest ratio is presently 5.9 days. Approximately 9.4% of the shares of the company are short sold.

Customers Bancorp Price Performance

NYSE:CUBI traded up $0.04 during mid-day trading on Tuesday, hitting $48.49. The company’s stock had a trading volume of 392,631 shares, compared to its average volume of 360,916. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 6.90 and a beta of 1.62. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75. Customers Bancorp has a fifty-two week low of $31.16 and a fifty-two week high of $68.49. The stock has a fifty day moving average of $53.46 and a 200-day moving average of $50.23.

Customers Bancorp (NYSE:CUBI – Get Free Report) last issued its earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The business had revenue of $198.69 million during the quarter, compared to analysts’ expectations of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. Customers Bancorp’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 EPS. As a group, equities analysts forecast that Customers Bancorp will post 6.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CUBI has been the topic of several recent analyst reports. Hovde Group downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research report on Friday, August 9th. DA Davidson boosted their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. B. Riley increased their price target on shares of Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday, July 29th. Wedbush boosted their price objective on shares of Customers Bancorp from $56.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods cut their price target on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Three research 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.50.

Read Our Latest Report on Customers Bancorp

Insider Buying and Selling at Customers Bancorp

In other news, CEO Samvir S. Sidhu bought 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the acquisition, the chief executive officer now directly owns 144,504 shares of the company’s stock, valued at approximately $6,579,267.12. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.92% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC bought a new position in shares of Customers Bancorp in the second quarter valued at approximately $48,000. Innealta Capital LLC acquired a new position in Customers Bancorp in the second quarter worth $74,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Customers Bancorp during the second quarter worth $151,000. Aigen Investment Management LP bought a new stake in shares of Customers Bancorp during the fourth quarter worth $209,000. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at $218,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

About Customers Bancorp

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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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