Customers Bancorp, Inc (NYSE:CUBI) – Investment analysts at B. Riley upped their Q1 2018 earnings per share estimates for Customers Bancorp in a research report issued on Friday. B. Riley analyst S. Moss now expects that the bank will post earnings of $0.50 per share for the quarter, up from their previous estimate of $0.44. B. Riley has a “Buy” rating and a $41.00 price objective on the stock. B. Riley also issued estimates for Customers Bancorp’s FY2018 earnings at $2.60 EPS.
Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.07). The company had revenue of $68.30 million during the quarter, compared to analyst estimates of $67.02 million. Customers Bancorp had a net margin of 18.64% and a return on equity of 14.11%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.62 EPS.
Customers Bancorp (CUBI) opened at $31.11 on Monday. The company has a market capitalization of $952.87, a PE ratio of 15.18 and a beta of 0.61. Customers Bancorp has a 52 week low of $24.75 and a 52 week high of $35.62. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.23 and a quick ratio of 0.91.
In other news, COO Richard A. Ehst sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $26.70, for a total value of $240,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert E. Wahlman sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $26.66, for a total value of $1,333,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,129 shares of company stock valued at $1,603,489. Insiders own 8.67% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CUBI. Schwab Charles Investment Management Inc. increased its stake in shares of Customers Bancorp by 54.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 206,314 shares of the bank’s stock valued at $5,835,000 after buying an additional 72,689 shares during the period. Wells Fargo & Company MN increased its stake in shares of Customers Bancorp by 23.3% in the second quarter. Wells Fargo & Company MN now owns 120,278 shares of the bank’s stock valued at $3,401,000 after buying an additional 22,718 shares during the period. Teachers Advisors LLC increased its stake in shares of Customers Bancorp by 348.5% in the second quarter. Teachers Advisors LLC now owns 310,683 shares of the bank’s stock valued at $8,786,000 after buying an additional 241,407 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Customers Bancorp by 105.1% in the second quarter. TIAA CREF Investment Management LLC now owns 211,025 shares of the bank’s stock valued at $5,968,000 after buying an additional 108,143 shares during the period. Finally, Nationwide Fund Advisors increased its stake in shares of Customers Bancorp by 21.8% in the second quarter. Nationwide Fund Advisors now owns 122,477 shares of the bank’s stock valued at $3,464,000 after buying an additional 21,888 shares during the period. 86.50% of the stock is owned by institutional investors.
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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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