Bancorp, Inc. Customers (NYSE: CUBI – Get a rating) was the target of a surge in short-term interest in March. As of March 31, there was short interest totaling 1,470,000 shares, an increase of 26.7% from the March 15 total of 1,160,000 shares. Based on an average daily volume of 487,700 shares, the short-term interest rate ratio is currently 3.0 days. Currently, 4.9% of the stock’s shares are sold short.
NYSE CUBI traded down $0.59 during Monday trading hours, hitting $44.59. 288,156 shares of the company were traded, against an average volume of 474,363. The company has a market capitalization of $1.47 billion, a price-earnings ratio of 5.01 and a beta of 1.54. Bancorp Customers has a 1-year minimum of $29.17 and a 1-year maximum of $76.13. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt ratio of 0.72. The stock has a 50-day simple moving average of $55.36 and a 200-day simple moving average of $57.14.
Bancorp Customers (NYSE: CUBI – Get a rating) last announced its quarterly results on Monday, January 24. The bank reported EPS of $2.92 for the quarter, missing the Zacks consensus estimate of $2.94 per ($0.02). The company posted revenue of $210.69 million for the quarter, versus a consensus estimate of $225.40 million. Customers Bancorp had a net margin of 36.64% and a return on equity of 32.38%. During the same quarter last year, the company posted EPS of $1.65. On average, sell-side analysts expect Customers Bancorp to post earnings per share of 6.56 for the current fiscal year.
A number of hedge funds have recently changed their positions in the business. Victory Capital Management Inc. increased its stake in Customers Bancorp by 501.5% during the 4th quarter. Victory Capital Management Inc. now owns 570,420 shares of the bank valued at $37,288,000 after purchasing an additional 475,590 shares last quarter. JPMorgan Chase & Co. increased its stake in Customers Bancorp by 5.9% in the 4th quarter. JPMorgan Chase & Co. now owns 557,238 shares of the bank valued at $36,427,000 after buying an additional 30,974 shares last quarter. Geode Capital Management LLC increased its stake in Customers Bancorp by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 522,349 shares of the bank valued at $34,145,000 after buying 2,223 additional shares last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Customers Bancorp by 258.6% during the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 520,600 shares of the bank valued at $34,032,000 after buying an additional 375,419 shares last quarter. Finally, Lord Abbett & CO. LLC increased its stake in Customers Bancorp by 17.5% in the third quarter. Lord Abbett & CO. LLC now owns 481,862 shares of the bank worth $20,730,000 after acquiring an additional 71,600 shares in the last quarter. Institutional investors and hedge funds hold 83.73% of the company’s shares.
A number of brokerages have published reports on CUBI. B. Riley lowered his target price on Customers Bancorp from $100.00 to $90.00 in a Tuesday, April 12 report. Stephens began covering Customers Bancorp in a report on Monday, March 28. They issued an “equal weight” rating and a target price of $62.50 for the company. Keefe, Bruyette & Woods upgraded Customers Bancorp from a “market performance” rating to an “outperformer” rating and raised their target price for the stock from $72.00 to $80.00 in a report Monday, March 28. Wedbush raised its target price on Customers Bancorp from $75.00 to $80.00 in a Wednesday, January 26 report. Finally, Maxim Group raised its target price on Customers Bancorp from $75.00 to $85.00 in a Wednesday, January 26 report. Five research analysts gave the stock a hold rating and five gave the stock a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $69.31.
Clients Company Profile Bancorp (Get a rating)
Customers Bancorp, Inc operates as a banking holding company for Customers Bank which provides financial products and services to individuals and small and medium businesses. The Company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers lending products, including commercial warehouse mortgages, multifamily and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgages and installment loans.
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