Equities research analysts expect Customers Bancorp, Inc (NYSE:CUBI) to report earnings of $0.49 per share for the current quarter, according to Zacks. Two analysts have made estimates for Customers Bancorp’s earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.53. Customers Bancorp posted earnings per share of $0.76 during the same quarter last year, which indicates a negative year-over-year growth rate of 35.5%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, January 24th.
On average, analysts expect that Customers Bancorp will report full-year earnings of $2.41 per share for the current year. For the next financial year, analysts expect that the company will report earnings of $3.00 per share, with EPS estimates ranging from $2.55 to $3.44. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Customers Bancorp.
Customers Bancorp (NYSE:CUBI) last released its earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.09). Customers Bancorp had a net margin of 19.75% and a return on equity of 15.38%. The company had revenue of $86.05 million for the quarter, compared to analyst estimates of $80.32 million. During the same quarter in the previous year, the firm earned $0.64 EPS.
Several research analysts have weighed in on the stock. Maxim Group restated a “buy” rating and set a $50.00 price objective on shares of Customers Bancorp in a report on Friday, October 20th. Boenning Scattergood downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating in a report on Friday, October 20th. BidaskClub upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating in a report on Friday, September 29th. Zacks Investment Research upgraded shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a report on Tuesday, October 24th. Finally, ValuEngine upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $40.75.
Customers Bancorp (NYSE CUBI) opened at $29.58 on Friday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.91 and a current ratio of 1.17. Customers Bancorp has a 1 year low of $24.75 and a 1 year high of $35.62. The stock has a market cap of $911.25, a price-to-earnings ratio of 14.43 and a beta of 0.61.
In other news, Director Rick Burkey sold 1,129 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $26.74, for a total value of $30,189.46. Following the completion of the sale, the director now owns 40,919 shares in the company, valued at approximately $1,094,174.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert E. Wahlman sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $26.66, for a total transaction of $1,333,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,129 shares of company stock worth $1,603,489. Corporate insiders own 8.67% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Customers Bancorp by 2.8% in the 2nd quarter. BlackRock Inc. now owns 3,584,410 shares of the bank’s stock worth $101,365,000 after acquiring an additional 97,085 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Customers Bancorp by 8.1% during the third quarter. Dimensional Fund Advisors LP now owns 2,137,437 shares of the bank’s stock valued at $69,723,000 after buying an additional 159,979 shares during the period. Vanguard Group Inc. grew its position in Customers Bancorp by 3.5% during the second quarter. Vanguard Group Inc. now owns 1,502,298 shares of the bank’s stock valued at $42,485,000 after buying an additional 50,545 shares during the period. Ameriprise Financial Inc. grew its position in Customers Bancorp by 3.4% during the third quarter. Ameriprise Financial Inc. now owns 1,407,426 shares of the bank’s stock valued at $45,913,000 after buying an additional 46,459 shares during the period. Finally, State Street Corp grew its position in Customers Bancorp by 7.6% during the second quarter. State Street Corp now owns 1,114,816 shares of the bank’s stock valued at $31,530,000 after buying an additional 78,363 shares during the period. Hedge funds and other institutional investors own 87.79% of the company’s stock.
Customers Bancorp Company Profile
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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