Customers Bancorp Inc (CUBI) Updates FY14 Earnings Guidance
Customers Bancorp Inc (NASDAQ:CUBI) issued an update on its FY14 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.65-1.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.46, ARN reports.
CUBI has been the subject of a number of recent research reports. Analysts at Sterne Agee initiated coverage on shares of Customers Bancorp in a research note to investors on Friday, January 17th. They set a neutral rating on the stock. On a related note, analysts at Boenning Scattergood raised their price target on shares of Customers Bancorp from $20.50 to $25.00 in a research note to investors on Thursday, January 2nd. They now have an outperform rating on the stock. Finally, analysts at Zacks upgraded shares of Customers Bancorp from an underperform rating to a neutral rating in a research note to investors on Tuesday, December 3rd. They now have a $18.20 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $22.07.
Shares of Customers Bancorp Inc (NASDAQ:CUBI) traded up 5.08% during mid-day trading on Thursday, hitting $20.67. 248,931 shares of the company’s stock traded hands. Customers Bancorp Inc has a one year low of $13.50 and a one year high of $23.14. The stock has a 50-day moving average of $19.75 and a 200-day moving average of $17.47. The company has a market cap of $510.4 million and a P/E ratio of 13.44.
Customers Bancorp (NASDAQ:CUBI) last released its earnings data on Thursday, January 23rd. The company reported $0.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.32 by $0.04. During the same quarter last year, the company posted $0.40 earnings per share. Analysts expect that Customers Bancorp Inc will post $1.42 EPS for the current fiscal year.
Customers Bancorp, Inc (NASDAQ:CUBI), through its wholly owned subsidiary Customers Bank (the Bank), provides financial products and services to small businesses, not-for-profits and consumers through its fourteen branches in Southeastern Pennsylvania (Bucks, Berks, Chester and Delaware Counties), Rye, New York (Westchester County) and Hamilton, New Jersey (Mercer County).
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