Wall Street brokerages expect Customers Bancorp Inc (NYSE:CUBI) to announce $0.41 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Customers Bancorp’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.57. Customers Bancorp reported earnings of $0.38 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 7.9%. The business is expected to announce its next quarterly earnings report on Wednesday, July 22nd.
On average, analysts expect that Customers Bancorp will report full-year earnings of $3.19 per share for the current year, with EPS estimates ranging from $2.70 to $3.66. For the next financial year, analysts forecast that the firm will report earnings of $2.00 per share, with EPS estimates ranging from $1.56 to $2.35. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Customers Bancorp.
Customers Bancorp (NYSE:CUBI) last posted its earnings results on Monday, May 4th. The bank reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.17). The company had revenue of $103.25 million for the quarter, compared to analyst estimates of $102.98 million. Customers Bancorp had a return on equity of 10.38% and a net margin of 13.05%.
Several equities analysts have recently issued reports on CUBI shares. B. Riley lowered Customers Bancorp from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $30.00 to $14.00 in a research report on Wednesday, March 25th. Zacks Investment Research upgraded Customers Bancorp from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Tuesday, June 2nd. TheStreet lowered Customers Bancorp from a “b-” rating to a “c” rating in a research report on Monday, March 9th. Finally, ValuEngine lowered Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.33.
Several institutional investors have recently made changes to their positions in the company. Comerica Bank raised its stake in shares of Customers Bancorp by 3.3% during the 1st quarter. Comerica Bank now owns 27,971 shares of the bank’s stock worth $299,000 after purchasing an additional 906 shares in the last quarter. Swiss National Bank raised its stake in Customers Bancorp by 1.8% in the 1st quarter. Swiss National Bank now owns 57,700 shares of the bank’s stock valued at $631,000 after acquiring an additional 1,000 shares during the period. Thrivent Financial for Lutherans raised its stake in Customers Bancorp by 5.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 24,149 shares of the bank’s stock valued at $264,000 after acquiring an additional 1,206 shares during the period. Meeder Asset Management Inc. bought a new stake in Customers Bancorp in the 4th quarter valued at $65,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Customers Bancorp in the 4th quarter valued at $68,000. Institutional investors own 80.42% of the company’s stock.
Shares of Customers Bancorp stock traded up $0.63 during trading on Tuesday, hitting $11.59. 273,900 shares of the company were exchanged, compared to its average volume of 260,491. The firm has a market capitalization of $345.14 million, a P/E ratio of 6.13 and a beta of 1.45. Customers Bancorp has a 1-year low of $8.36 and a 1-year high of $25.72. The firm’s fifty day moving average price is $11.40 and its 200 day moving average price is $16.31. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.11 and a quick ratio of 1.06.
About Customers Bancorp
Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.
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