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

Customers Bancorp, Inc. (NYSE:CUBI - Get Free Report) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 2,440,000 shares, a decrease of 15.3% from the September 30th total of 2,880,000 shares. Approximately 8.4% of the company's stock are sold short. Based on an average daily trading volume, of 414,800 shares, the short-interest ratio is currently 5.9 days.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Samvir S. Sidhu bought 2,500 shares of the firm's stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $45.53 per share, with a total value of $113,825.00. Following the completion of the transaction, the chief executive officer now directly owns 144,504 shares in the company, valued at approximately $6,579,267.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 6.92% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC bought a new position in Customers Bancorp during the second quarter worth about $48,000. Innealta Capital LLC bought a new position in Customers Bancorp in the 2nd quarter worth approximately $74,000. GAMMA Investing LLC boosted its holdings in Customers Bancorp by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank's stock worth $73,000 after buying an additional 282 shares during the period. CWM LLC grew its stake in Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank's stock valued at $102,000 after buying an additional 274 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Customers Bancorp during the 2nd quarter valued at $151,000. Institutional investors own 89.29% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on CUBI shares. Wedbush lowered shares of Customers Bancorp from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $79.00 to $53.00 in a research note on Tuesday, September 24th. Raymond James reduced their price objective on shares of 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. Keefe, Bruyette & Woods dropped their target price on shares of Customers Bancorp from $76.00 to $63.00 and set an "outperform" rating on the stock in a research report on Friday, August 9th. Jefferies Financial Group reduced their target price on Customers Bancorp from $59.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday, July 3rd. Finally, DA Davidson increased their price target on Customers Bancorp from $71.00 to $79.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

Customers Bancorp Stock Performance

NYSE CUBI traded down $1.60 on Tuesday, hitting $45.38. 538,120 shares of the stock traded hands, compared to its average volume of 359,038. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. The business's fifty day moving average is $47.47 and its two-hundred day moving average is $48.96. Customers Bancorp has a 12 month low of $38.69 and a 12 month high of $68.49. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 6.34 and a beta of 1.61.

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.