Customers Bancorp Inc (NYSE:CUBI) Short Interest Update
Customers Bancorp Inc (NYSE:CUBI) saw a large decrease in short interest in May. As of May 15th, there was short interest totalling 496,000 shares, a decrease of 6.7% from the April 30th total of 531,600 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily volume of 282,400 shares, the short-interest ratio is currently 1.8 days.
NYSE CUBI traded down $0.05 during trading on Friday, hitting $10.32. The company had a trading volume of 152,445 shares, compared to its average volume of 294,713. The company has a current ratio of 1.11, a quick ratio of 1.06 and a debt-to-equity ratio of 2.16. Customers Bancorp has a one year low of $8.36 and a one year high of $25.72. The company has a market cap of $326.34 million, a price-to-earnings ratio of 4.87 and a beta of 1.51. The company’s fifty day moving average is $10.54 and its 200-day moving average is $18.67.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Monday, May 4th. The bank reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.17). The company had revenue of $103.25 million during the quarter, compared to the consensus estimate of $102.98 million. Customers Bancorp had a return on equity of 10.38% and a net margin of 13.05%. As a group, equities analysts anticipate that Customers Bancorp will post 3.43 EPS for the current year.
Several institutional investors have recently modified their holdings of CUBI. Aigen Investment Management LP bought a new position in shares of Customers Bancorp in the 4th quarter worth about $42,000. Sowell Financial Services LLC bought a new position in shares of Customers Bancorp in the 1st quarter worth about $52,000. Meeder Asset Management Inc. bought a new position in shares of Customers Bancorp in the 4th quarter worth about $65,000. C M Bidwell & Associates Ltd. bought a new position in shares of Customers Bancorp in the 4th quarter worth about $68,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Customers Bancorp by 78.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,420 shares of the bank’s stock worth $125,000 after acquiring an additional 5,033 shares in the last quarter. Institutional investors own 80.99% of the company’s stock.
A number of research firms recently commented on CUBI. TheStreet lowered shares of Customers Bancorp from a “b-” rating to a “c” rating in a report on Monday, March 9th. Maxim Group reiterated a “buy” rating and set a $38.00 price target on shares of Customers Bancorp in a report on Tuesday, January 28th. ValuEngine lowered shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 3rd. B. Riley lowered shares of Customers Bancorp from a “buy” rating to a “neutral” rating and lowered their price target for the company from $30.00 to $14.00 in a report on Wednesday, March 25th. Finally, Zacks Investment Research lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a report on Friday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $21.33.
About Customers Bancorp
Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.
Further Reading: Short Selling
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