Bancorp, Inc. Customers (NYSE: CUBI – Get a rating) recorded a sharp increase in short-term interest during the month of 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 company’s shares are sold short.
Shares of CUBI traded down $0.59 in midday trading on Monday, hitting $44.59. 288,156 shares of the stock traded in hands, compared to its average volume of 474,363. The company has a fifty-day moving average price of $55.36 and a 200-day moving average price of $57.14. The company has a market capitalization of $1.47 billion, a price-earnings ratio of 5.01 and a beta of 1.54. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt ratio of 0.72. Bancorp Customers has a 1-year minimum of $29.17 and a 1-year maximum of $76.13.
Bancorp Customers (NYSE: CUBI – Get a rating) last released its quarterly earnings data on Monday, January 24. The bank reported earnings per share (EPS) of $2.92 for the quarter, missing analyst consensus estimates of $2.94 per ($0.02). Clients Bancorp had a return on equity of 32.38% and a net margin of 36.64%. The company posted revenue of $210.69 million for the quarter, versus a consensus estimate of $225.40 million. During the same period a year earlier, the company posted earnings per share of $1.65. On average, sell-side analysts expect Customers Bancorp to post an EPS of 6.56 for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings of Customers Bancorp stock by 501.5% during the 4th quarter. Victory Capital Management Inc. now owns 570,420 shares of the bank worth $37,288,000 after acquiring an additional 475,590 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Customers Bancorp by 5.9% in the fourth quarter. JPMorgan Chase & Co. now owns 557,238 shares of the bank worth $36,427,000 after buying an additional 30,974 shares in the last quarter. Geode Capital Management LLC increased its stake in Customers Bancorp by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 522,349 shares of the bank worth $34,145,000 after purchasing an additional 2,223 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Customers Bancorp by 258.6% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 520,600 shares of the bank worth $34,032,000 after buying 375,419 additional shares in the 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 purchasing an additional 71,600 shares in the last quarter. 83.73% of the shares are held by institutional investors.
Several brokerages have recently published reports on CUBI. Keefe, Bruyette & Woods upgraded Customers Bancorp shares from a ‘market performer’ rating to an ‘outperformer’ rating and raised their price target for the stock from $72.00 to 80.00 $ in a research note from Monday, March 28. Wedbush raised its price target on Customers Bancorp shares from $75.00 to $80.00 in a Wednesday, Jan. 26 research note. B. Riley cut his price target on Customers Bancorp stock from $100.00 to $90.00 in a Tuesday, April 12 research note. Stephens began covering Customers Bancorp shares in a research note on Monday, March 28. They set an “equal weight” rating and a price target of $62.50 for the company. To finish, StockNews.com began covering Customers Bancorp stock in a research note on Thursday, March 31. They issued a “holding” rating for the company. Five research analysts rated the stock with a hold rating and five gave the company a buy rating. Based on MarketBeat data, Customers Bancorp currently has an average 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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