Customers Bancorp, Inc. (NYSE:CUBI) Short Interest Down 15.3% in October

Customers Bancorp, Inc. (NYSE:CUBIGet Free Report) was the target of a large decline in short interest in October. As of October 15th, there was short interest totalling 2,440,000 shares, a decline of 15.3% from the September 30th total of 2,880,000 shares. Approximately 8.4% of the company’s stock are short sold. Based on an average trading volume of 414,800 shares, the days-to-cover ratio is presently 5.9 days.

Insider Activity at Customers Bancorp

In other news, CEO Samvir S. Sidhu bought 2,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the acquisition, the chief executive officer now owns 144,504 shares in the company, valued at approximately $6,579,267.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Customers Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter worth about $48,000. GAMMA Investing LLC boosted its holdings in shares of Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after acquiring an additional 282 shares during the period. Innealta Capital LLC acquired a new position in shares of Customers Bancorp in the second quarter valued at approximately $74,000. CWM LLC increased its stake in shares of Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after purchasing an additional 274 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Customers Bancorp during the 2nd quarter worth approximately $151,000. 89.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CUBI. B. Riley upped their price target on Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods decreased their target price on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Wedbush downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Raymond James reduced their price target on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Customers Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Read Our Latest Stock Analysis on CUBI

Customers Bancorp Stock Performance

CUBI opened at $45.64 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.75. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 6.37 and a beta of 1.61. Customers Bancorp has a 12-month low of $38.69 and a 12-month high of $68.49. The business has a 50 day moving average of $47.47 and a 200-day moving average of $48.96.

Customers Bancorp Company Profile

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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.

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