Customers Bancorp Inc (CUBI) Updates FY14 Earnings Guidance
Customers Bancorp Inc (NASDAQ:CUBI) issued an update on its FY14 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $1.65-1.70 for the period, compared to the Thomson Reuters consensus estimate of $1.53, American Banking News reports. Customers Bancorp also updated its FY15 guidance to $1.95-2.00 EPS.
CUBI has been the subject of a number of recent research reports. Analysts at Sandler O’Neill downgraded shares of Customers Bancorp from a buy rating to a hold rating in a research note on Tuesday, April 22nd. On a related note, analysts at Boenning Scattergood raised their price target on shares of Customers Bancorp from $25.00 to $28.50 in a research note on Tuesday, April 22nd. They now have an outperform rating on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Customers Bancorp currently has an average rating of Buy and a consensus price target of $23.90.
Shares of Customers Bancorp Inc (NASDAQ:CUBI) opened at 20.73 on Friday. Customers Bancorp Inc has a one year low of $15.53 and a one year high of $23.38. The stock has a 50-day moving average of $21.90 and a 200-day moving average of $19.82. The company has a market cap of $503.7 million and a P/E ratio of 15.09.
Customers Bancorp (NASDAQ:CUBI) last released its earnings data on Monday, April 21st. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.31 by $0.01. The company had revenue of $37.10 million for the quarter, compared to the consensus estimate of $27.10 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. Analysts expect that Customers Bancorp Inc will post $1.62 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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