Customers Bancorp, Inc. Expected to Earn Q2 2024 Earnings of $1.72 Per Share (NYSE:CUBI)

Customers Bancorp, Inc. (NYSE:CUBI) – Investment analysts at Wedbush reduced their Q2 2024 EPS estimates for Customers Bancorp in a research report issued to clients and investors on Friday, April 26th. Wedbush analyst D. Chiaverini now forecasts that the bank will earn $1.72 per share for the quarter, down from their previous forecast of $1.77. Wedbush currently has a “Outperform” rating and a $61.00 price objective on the stock. The consensus estimate for Customers Bancorp’s current full-year earnings is $6.85 per share. Wedbush also issued estimates for Customers Bancorp’s Q1 2025 earnings at $1.88 EPS, Q2 2025 earnings at $1.86 EPS, Q3 2025 earnings at $1.92 EPS and Q4 2025 earnings at $1.89 EPS.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Friday, April 26th. The bank reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. The company had revenue of $181.62 million for the quarter, compared to analysts’ expectations of $183.48 million. Customers Bancorp had a net margin of 16.88% and a return on equity of 18.62%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $1.58 EPS.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group raised their target price on shares of Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Raymond James upped their target price on Customers Bancorp from $65.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 29th. Finally, B. Riley raised their price target on shares of Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a report on Monday, January 29th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.29.

Customers Bancorp Price Performance

CUBI stock opened at $46.82 on Monday. The stock has a 50-day moving average price of $51.40 and a two-hundred day moving average price of $49.10. The company has a market cap of $1.47 billion, a PE ratio of 6.54 and a beta of 1.67. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92. Customers Bancorp has a 12-month low of $15.80 and a 12-month high of $60.09.

Insider Buying and Selling at Customers Bancorp

In related news, insider Glenn Hedde sold 666 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total value of $36,097.20. Following the completion of the transaction, the insider now directly owns 69,428 shares of the company’s stock, valued at approximately $3,762,997.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Glenn Hedde sold 666 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total transaction of $36,097.20. Following the transaction, the insider now owns 69,428 shares in the company, valued at $3,762,997.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total value of $1,904,470.80. Following the transaction, the chief financial officer now owns 41,224 shares in the company, valued at $2,191,055.60. The disclosure for this sale can be found here. 9.40% of the stock is currently owned by company insiders.

Institutional Trading of Customers Bancorp

Large investors have recently added to or reduced their stakes in the business. BluePath Capital Management LLC purchased a new position in Customers Bancorp in the 3rd quarter worth about $31,000. GAMMA Investing LLC purchased a new position in shares of Customers Bancorp in the fourth quarter worth approximately $78,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Customers Bancorp in the third quarter worth approximately $112,000. Federated Hermes Inc. raised its holdings in shares of Customers Bancorp by 29,550.0% during the third quarter. Federated Hermes Inc. now owns 3,558 shares of the bank’s stock valued at $123,000 after acquiring an additional 3,546 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Customers Bancorp in the 4th quarter valued at approximately $209,000. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.