Customers Bancorp, Inc to Post Q1 2018 Earnings of $0.50 Per Share, B. Riley Forecasts (CUBI)

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.

A number of other research analysts also recently commented on CUBI. Boenning Scattergood downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating in a research note on Friday, October 20th. Maxim Group reissued a “buy” rating and set a $50.00 target price on shares of Customers Bancorp in a research note on Friday, October 20th. Zacks Investment Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating and set a $36.00 target price for the company in a research note on Tuesday, October 24th. BidaskClub downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Finally, TheStreet downgraded Customers Bancorp from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $39.20.

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.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/01/29/customers-bancorp-inc-to-post-q1-2018-earnings-of-0-50-per-share-b-riley-forecasts-cubi.html.

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).

Earnings History and Estimates for Customers Bancorp (NYSE:CUBI)

Receive News & Ratings for Customers Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Customers Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply