Customers of Bancorp, Inc. (NYSE: CUBI – Get a Score) was the target of a large increase in short-term interest rates in March. At March 31, there was short-term interest in a total of 1,470,000 shares, an increase of 26.7% from the total of 1,160,000 shares on March 15. Based on an average daily volume of 487,700 shares, the short-term interest rate index is currently 3.0 days. Currently, 4.9% of the stock shares are open sales.
NYSE CUBI traded down $ 0.59 during trading hours on Monday, reaching $ 44.59. 288,156 shares of the company were exchanged, against an average volume of 474,363. The company has a market capitalization of $ 1.47 billion, a price-to-earnings ratio of 5.01 and a beta of 1.54. Bancorp customers have a 1-year low of $ 29.17 and a 1-year high of $ 76.13. The company has a current trading index of 0.87, a fast index of 0.87 and a debt-to-equity ratio of 0.72. The stock has a simple 50-day moving average of $ 55.36 and a 200-day simple moving average of $ 57.14.
Bancorp Customers (NYSE: CUBI – Get a Score) announced last quarterly earnings results on Monday, January 24th. The bank reported $ 2.92 EPS for the quarter, excluding the Zacks’ consensus estimate of $ 2.94 ($ 0.02). The company had revenue of $ 210.69 million for the quarter, compared to the consensus estimate of $ 225.40 million. Bancorp customers had a net margin of 36.64% and a return on equity of 32.38%. In the same quarter last year, the company released $ 1.65 EPS. On average, analysts on the sales side expect Customers Bancorp to post earnings of 6.56 per share for the current financial year.
Some hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. increased its stake in Customers Bancorp by 501.5% in the 4th quarter. Victory Capital Management Inc. now owns 570,420 shares of the $ 37,288,000 bank after buying an additional 475,590 shares in the 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 $ 36,427,000 bank 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 4th quarter. Geode Capital Management LLC now owns 522,349 shares of the $ 34,145,000 bank after buying 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 4th quarter. The Emerald Mutual Fund Advisers Trust now owns 520,600 shares of the $ 34,032,000 bank after buying an additional 375,419 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in Customers Bancorp by 17.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 481,862 shares of the $ 20,730,000 bank after acquiring an additional 71,600 shares in the last quarter. Institutional investors and hedge funds hold 83.73% of the company’s share.
Some brokerage firms have issued CUBI reports. B. Riley reduced their target price on Customers Bancorp from $ 100.00 to $ 90.00 in a report on Tuesday 12 April. Stephens began covering Customers Bancorp in a report on Monday, March 28th. They issued an “equal weight” rating and a target price of $ 62.50 for the company. Keefe, Bruyette & Woods raised Customers Bancorp from a “market return” rating to an “outperformance” rating and raised their share price target from $ 72.00 to $ 80.00 in a report on Monday, March 28th. Wedbush raised its target price for Customers Bancorp from $ 75.00 to $ 80.00 in a report on Wednesday, January 26. Finally, Maxim Group raised its target price on Customers Bancorp from $ 75.00 to $ 85.00 in a report on Wednesday, January 26th. Five research analysts have rated the stock with a holding rating and five have issued a market rating for the stock. According to data from MarketBeat, the stock currently has a “Buy” consensus rating and a consensus target price of $ 69.31.
Bancorp corporate customer profile (Get a Score)
Customers Bancorp, Inc. operates as the customer portfolio banking company that provides financial products and services to individual consumers and small and medium-sized businesses in the market. The company offers deposit products, including checking accounts, savings accounts, MMDAs and other deposits. It offers loan products, such as commercial warehouse mortgages, multi-family and commercial real estate loans, banking, small business loans, equipment financing, mortgages and installment loans.
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