Zacks: Analysts Anticipate Customers Bancorp, Inc (CUBI) to Post $0.62 EPS
Wall Street analysts predict that Customers Bancorp, Inc (NYSE:CUBI) will post earnings of $0.62 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Customers Bancorp’s earnings, with estimates ranging from $0.58 to $0.66. Customers Bancorp posted earnings of $0.60 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.3%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, July 27th.
According to Zacks, analysts expect that Customers Bancorp will report full year earnings of $2.58 per share for the current fiscal year, with EPS estimates ranging from $2.56 to $2.60. For the next fiscal year, analysts forecast that the firm will post earnings of $2.90 per share, with EPS estimates ranging from $2.80 to $3.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Customers Bancorp.
Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, April 26th. The bank reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.09. The business had revenue of $62.42 million during the quarter, compared to the consensus estimate of $66.31 million. Customers Bancorp had a net margin of 22.34% and a return on equity of 15.32%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share.
Several brokerages have recently issued reports on CUBI. BidaskClub cut Customers Bancorp from a “sell” rating to a “strong sell” rating in a research note on Sunday. TheStreet upgraded Customers Bancorp from a “c+” rating to a “b” rating in a research note on Wednesday, May 17th. Zacks Investment Research cut Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, June 7th. Maxim Group reiterated a “buy” rating and issued a $50.00 price objective on shares of Customers Bancorp in a research note on Thursday, April 27th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $37.00 target price on shares of Customers Bancorp in a research note on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $39.50.
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Shares of Customers Bancorp (NYSE CUBI) traded down 0.46% during trading on Tuesday, reaching $28.21. 7,340 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $28.83 and a 200 day moving average price of $32.16. The company has a market capitalization of $864.24 million, a P/E ratio of 11.71 and a beta of 0.63. Customers Bancorp has a 12-month low of $24.37 and a 12-month high of $36.93.
A number of large investors have recently bought and sold shares of the company. Texas Permanent School Fund boosted its stake in Customers Bancorp by 0.4% in the first quarter. Texas Permanent School Fund now owns 20,615 shares of the bank’s stock valued at $650,000 after buying an additional 75 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Customers Bancorp by 0.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 37,550 shares of the bank’s stock valued at $1,184,000 after buying an additional 200 shares during the last quarter. Wellington Management Group LLP boosted its stake in Customers Bancorp by 2.4% in the first quarter. Wellington Management Group LLP now owns 10,887 shares of the bank’s stock valued at $343,000 after buying an additional 258 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Customers Bancorp by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,600 shares of the bank’s stock valued at $366,000 after buying an additional 300 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Customers Bancorp by 2.1% in the first quarter. Arizona State Retirement System now owns 14,800 shares of the bank’s stock valued at $467,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 88.89% 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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