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Fly News Breaks for July 29, 2015
CUBI
Jul 29, 2015 | 07:57 EDT
Janney Capital noted investors were "clearly concerned" about the potential for significant additional fraud losses at Customers Bancorp after it recorded a $6M loss provision related to a potential fraud as part of its Q2 results, but the firm thinks the company's subsequent announcement that it believes the event was isolated should help ease those concerns. Janney said it expects the shares to recover from their selloff and keeps a Buy rating and $32 fair value estimate on Customers' shares.
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