Equities analysts expect Customers Bancorp, Inc (NYSE:CUBI) to announce sales of $79.77 million for the current quarter, according to Zacks. Two analysts have made estimates for Customers Bancorp’s earnings, with the lowest sales estimate coming in at $71.58 million and the highest estimate coming in at $87.95 million. Customers Bancorp posted sales of $67.85 million in the same quarter last year, which suggests a positive year over year growth rate of 17.6%. The business is expected to announce its next quarterly earnings report on Wednesday, April 25th.
On average, analysts expect that Customers Bancorp will report full year sales of $79.77 million for the current financial year, with estimates ranging from $308.42 million to $347.34 million. For the next financial year, analysts anticipate that the firm will report sales of $340.41 million per share, with estimates ranging from $330.17 million to $350.64 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Customers Bancorp.
Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $0.55 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.07). Customers Bancorp had a net margin of 18.64% and a return on equity of 14.11%. The company had revenue of $68.30 million for the quarter, compared to the consensus estimate of $67.02 million. During the same period last year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis.
In related news, Director Rick Burkey sold 1,129 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $26.74, for a total value of $30,189.46. Following the sale, the director now directly owns 40,919 shares of the company’s stock, valued at approximately $1,094,174.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Richard A. Ehst sold 9,000 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $26.70, for a total transaction of $240,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 60,635 shares of company stock worth $1,618,750 over the last 90 days. Corporate insiders own 8.67% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Customers Bancorp by 2.8% in the 2nd quarter. BlackRock Inc. now owns 3,584,410 shares of the bank’s stock worth $101,365,000 after purchasing an additional 97,085 shares during the period. Dimensional Fund Advisors LP raised its position in Customers Bancorp by 8.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,137,437 shares of the bank’s stock worth $69,723,000 after purchasing an additional 159,979 shares during the period. Vanguard Group Inc. raised its position in Customers Bancorp by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,502,298 shares of the bank’s stock worth $42,485,000 after purchasing an additional 50,545 shares during the period. Ameriprise Financial Inc. raised its position in Customers Bancorp by 3.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,407,426 shares of the bank’s stock worth $45,913,000 after purchasing an additional 46,459 shares during the period. Finally, State Street Corp raised its position in Customers Bancorp by 7.6% in the 2nd quarter. State Street Corp now owns 1,114,816 shares of the bank’s stock worth $31,530,000 after purchasing an additional 78,363 shares during the period. 85.00% of the stock is currently owned by institutional investors.
Customers Bancorp (NYSE:CUBI) opened at $29.86 on Wednesday. Customers Bancorp has a 1-year low of $24.75 and a 1-year high of $35.62. The company has a market cap of $921.39, a PE ratio of 11.08 and a beta of 0.75. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 2.45.
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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