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Fly News Breaks for January 27, 2017
CUBI
Jan 27, 2017 | 08:01 EDT
Maxim analyst Michael Diana noted that Customers Bancorp CEO Jay Sidhu indicated on the company's earnings call that management is "in final negotiations" to sell BankMobile and an announcement is seen coming within 60 days. However, it is unclear how much, if any, of BankMobile that Customers will retain and the gain on the BankMobile divestiture should be taxed as ordinary income, Diana tells investors. He keeps a Buy rating and $40 price target on the stock, but sees potential upside dependent on what happens with BankMobile.
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