CUBI

Customers Bancorp, Inc

32.00
USD
-2.26%
32.00
USD
-2.26%
29.21 76.13
52 weeks
52 weeks

Mkt Cap 1.04B

Shares Out 32.37M

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Financial Sector Update for 01/26/2022: SF,CUBI,IBTX

Financial stocks were advancing in afternoon trading, with the NYSE Financial Index rising 1.4% and the SPDR Financial Select Sector ETF (XLF) up 1.2%. The Philadelphia Housing Index was climbing 0.6%, and the SPDR Real Estate Select Sector ETF (XLRE) was up 0.7%. Bitcoin was 2.2% higher at $38,106, while the yield for 10-year US Treasuries was flat at 1.783%. In company news, Stifel Financial (SF) added 8.8% after the brokerage and investment banking firm reported non-GAAP Q4 net income of $2.23 per share, improving on a $1.67 per share profit during the same quarter in 2020 and easily beating the Capital IQ consensus expecting a $1.89 per share adjusted profit. Net revenue increased 22.6% year-over-year to $1.30 billion, also topping the $1.22 billion analyst mean. Customers Bancorp (CUBI) climbed 3.9% after Wedbush Wednesday raised its price target for the bank holding company by $5 to $80, citing its "tremendous" diversity of revenue sources and its likely path for growth over the next two years. Wedbush also maintained its outperform rating on the company's stock. Independent Bank (IBTX) rose 1.2% after increasing its quarterly cash dividend by 5.6% over its most recent payment to investors to $0.38 per share. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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