Short Interest in Customers Bancorp, Inc. (NYSE:CUBI) Rises By 12.7%

Customers Bancorp, Inc. (NYSE:CUBI) saw a significant increase in short interest during the month of 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. Currently, 10.1% of the shares of the company are sold short. Based on an average daily trading volume, of 319,000 shares, the short-interest ratio is presently 9.2 days.

Institutional Investors Weigh In On Customers Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new position in shares of Customers Bancorp during the 4th quarter worth approximately $78,000. Federated Hermes Inc. boosted its position in shares of Customers Bancorp by 29,550.0% during the 3rd quarter. Federated Hermes Inc. now owns 3,558 shares of the bank’s stock worth $123,000 after purchasing an additional 3,546 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Customers Bancorp in the 4th quarter valued at about $209,000. Coldstream Capital Management Inc. bought a new stake in Customers Bancorp in the 4th quarter valued at about $218,000. Finally, Cookson Peirce & Co. Inc. acquired a new position in Customers Bancorp during the 4th quarter worth approximately $234,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Stock Up 0.9 %

NYSE CUBI traded up $0.43 during trading hours on Monday, hitting $48.41. 172,890 shares of the company traded hands, compared to its average volume of 313,130. The business’s 50-day moving average is $46.43 and its 200-day moving average is $50.49. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 6.76 and a beta of 1.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp has a twelve month low of $29.99 and a twelve month high of $60.09.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Friday, April 26th. The bank reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.05. Customers Bancorp had a net margin of 16.88% and a return on equity of 18.17%. The firm had revenue of $181.62 million during the quarter, compared to the consensus estimate of $183.48 million. During the same quarter in the previous year, the firm posted $1.58 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. Sell-side analysts anticipate that Customers Bancorp will post 6.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CUBI. Jefferies Financial Group upped their price target on shares of Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Hovde Group cut their target price 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, Wedbush lowered their price target on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.50.

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.