Customers Bancorp (NYSE:CUBI) Releases FY 2020 Pre-Market Earnings Guidance

Customers Bancorp (NYSE:CUBI) updated its FY 2020
Pre-Market earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 3.00-3.00 for the period, compared to the Thomson Reuters consensus estimate of $3.63.

A number of analysts have commented on the stock. ValuEngine cut shares of Customers Bancorp from a sell rating to a strong sell rating in a research report on Monday, August 3rd. Zacks Investment Research raised shares of Customers Bancorp from a sell rating to a hold rating in a research report on Monday, August 3rd. Finally, Maxim Group reiterated a buy rating and set a $27.00 price objective on shares of Customers Bancorp in a report on Friday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $17.67.

CUBI opened at $12.16 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.42 and a quick ratio of 1.38. Customers Bancorp has a fifty-two week low of $8.36 and a fifty-two week high of $25.72. The firm has a market capitalization of $382.93 million, a PE ratio of 5.24 and a beta of 1.51. The company’s 50-day moving average is $12.33 and its 200 day moving average is $12.30.

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

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

Customers Bancorp Company Profile

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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