Customers Bancorp (NYSE:CUBI) Issues FY20 Earnings Guidance

Customers Bancorp (NYSE:CUBI) issued an update on its FY20 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.00 for the period, compared to the Thomson Reuters consensus estimate of $3.53. Customers Bancorp also updated its FY 2020
Pre-Market guidance to 3.00-3.00 EPS.

CUBI has been the subject of a number of research analyst reports. Maxim Group reissued a buy rating and issued a $27.00 price target on shares of Customers Bancorp in a report on Friday, August 7th. Zacks Investment Research raised shares of Customers Bancorp from a sell rating to a hold rating in a research note on Monday, August 3rd. Finally, ValuEngine downgraded shares of Customers Bancorp from a sell rating to a strong sell rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $17.67.

NYSE CUBI opened at $12.16 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.38 and a debt-to-equity ratio of 1.30. Customers Bancorp has a 1-year low of $8.36 and a 1-year high of $25.72. The firm’s fifty day simple moving average is $12.33 and its 200-day simple moving average is $12.30. The company has a market capitalization of $382.93 million, a PE ratio of 5.24 and a beta of 1.51.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, July 30th. The bank reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.17. The company had revenue of $114.22 million for the quarter, compared to analyst estimates of $108.09 million. Customers Bancorp had a return on equity of 10.77% and a net margin of 14.19%. As a group, analysts predict that Customers Bancorp will post 3.62 EPS for the current year.

In other news, COO Richard A. Ehst sold 2,500 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $13.70, for a total transaction of $34,250.00. Insiders own 9.71% of the company’s stock.

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

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