Customers Bancorp (CUBI) PT Lowered at Boenning & Scattergood after Cease & Desist Order Against Higher One (ONE)

Boenning & Scattergood lowered its price target on Customers Bancorp (NASDAQ: CUBI) to $31.50 (from $33.00) but maintained an Outperform rating.

The cut come after being mentioned in a Cease & Desist Order against Higher One, Inc. (NYSE: ONE) regarding disclosures of product features and fees surrounding its student loan refund disbursement business. This is the same business Customers announced they are acquiring earlier this month.

For an analyst ratings summary and ratings history on Customers Bancorp click here. For more ratings news on Customers Bancorp click here.

Shares of Customers Bancorp closed at $19.22 yesterday.

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