Short Interest in Clients Bancorp, Inc. (NYSE:CUBI) grows 26.7%



Clients Bancorp, Inc. (NYSE:CUBIreceived rating) was the target of a sharp rise in short rates in March. As of March 31st, there was short interest totaling 1,470,000 shares, an increase of 26.7% from the March 15th total of 1,160,000 shares. Based on an average daily volume of 487,700 shares, the short interest ratio is currently 3.0 days. Currently, 4.9% of shares of the stock are short.

NYSE CUBI was traded down $0.59 during Monday’s trading hours to hit $44.59. 288,156 shares of the Company were exchanged compared to an average volume of 474,363. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 5.01 and a beta of 1.54. Clients Bancorp has a 1 year low of $29.17 and a 1 year high of $76.13. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt to equity ratio of 0.72. The stock has a 50-day simple moving average of $55.36 and a 200-day simple moving average of $57.14.

Customer Bancorp (NYSE:CUBIreceived rating) last announced its quarterly results on Monday, January 24th. The bank reported $2.92 per share for the quarter, missing 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. Clients Bancorp had a net margin of 36.64% and a return on equity of 32.38%. In the same quarter last year, the company traded at $1.65 per share. On average, sell-side analysts expect Customers Bancorp to report earnings per share of 6.56 for the current fiscal year.

A number of hedge funds have recently changed their positions in the business. Victory Capital Management Inc. increased its stake in Customers Bancorp by 501.5% in the fourth quarter. Victory Capital Management Inc. now owns 570,420 shares of the bank valued at $37,288,000 after purchasing an additional 475,590 shares 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, valued at $36,427,000, after purchasing an additional 30,974 shares last quarter. Geode Capital Management LLC increased its stake in Customers Bancorp by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 522,349 shares of the bank valued at $34,145,000 after purchasing an additional 2,223 shares 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 valued at $34,032,000 after purchasing an additional 375,419 shares last quarter. Eventually, Lord Abbett & CO. faltered. 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 valued at $20,730,000 after acquiring an additional 71,600 shares last quarter. Institutional investors and hedge funds own 83.73% of the company’s shares.

A number of brokers have issued reports on CUBI. B. Riley lowered its price target on Customers Bancorp from $100.00 to $90.00 in a report on Tuesday, April 12. Stephens began reporting on Customers Bancorp in a report on Monday, March 28th. They gave the company an equal weight rating and a price target of $62.50. Keefe, Bruyette & Woods raised Customers Bancorp from a market perform rating to an outperform rating and raised the target price on the stock to 80.00 from $72.00 in a report Monday, March 28 $ raised. Wedbush increased its target price on Customers Bancorp to $80.00 from $75.00 in a report on Wednesday, January 26. Finally, Maxim Group increased its price target on Customers Bancorp to $85.00 from $75.00 in a report on Wednesday, January 26. Five research analysts have rated the stock with a hold rating and five with a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $69.31.

Clients Bancorp Company Profile (received rating)

Customers Bancorp, Inc acts as the banking holding company for Customers Bank, which provides financial products and services to consumers and small and medium sized businesses. The Company offers deposit products including checking, savings, MMDA and other deposit accounts. It offers lending products including commercial mortgage inventory loans, multi-family and commercial real estate loans, commercial banks, small business loans, equipment financing, residential mortgage loans and personal loans.

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