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CUBI: Chapter one of new business plan complete - DA Davidson

Published 10/28/2018, 05:33 PM
© Reuters.  CUBI: Chapter one of new business plan complete - DA Davidson
  • "With CUBI anticipating retaining BankMobile for the next 2-3 years and managing the balance sheet below $10B throughout, we look for a favorable EA remix out of multifamily into higher yielding C&I and Consumer, incremental NIM expansion due to both asset and liability optimization, and capital accretion and optionality to serve as potentially meaningfully EPS growth levers going forward," DA Davidson analyst Russell Gunther says in a note today.
  • "That said, we still lack P&L visibility and the ultimate monetization of BankMobile remains similarly unclear."
  • Firm is Neutral on the stock with a $24 price target (12-18 months) and a $35 five-year target.


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