Customers Bancorp (CUBI) to Release Quarterly Earnings on Thursday

Customers Bancorp (NYSE:CUBI) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.62 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, January 25th. The bank reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.14. The firm had revenue of $191.18 million during the quarter, compared to analyst estimates of $187.87 million. Customers Bancorp had a net margin of 17.23% and a return on equity of 18.75%. On average, analysts expect Customers Bancorp to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Customers Bancorp Stock Up 0.2 %

Customers Bancorp stock opened at $46.45 on Thursday. The company has a 50-day simple moving average of $51.91 and a 200-day simple moving average of $48.33. The firm has a market capitalization of $1.46 billion, a P/E ratio of 6.35 and a beta of 1.67. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp has a one year low of $15.80 and a one year high of $60.09.

Wall Street Analyst Weigh In

A number of research firms have commented on CUBI. Raymond James upped their price objective on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. Jefferies Financial Group upped their price objective 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. Wedbush reduced their price objective on shares of Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Finally, B. Riley upped their price objective on shares of Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Customers Bancorp has an average rating of “Moderate Buy” and a consensus target price of $61.86.

Insider Buying and Selling at Customers Bancorp

In other news, CFO Carla A. Leibold sold 35,832 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the sale, the chief financial officer now owns 41,224 shares in the company, valued at approximately $2,191,055.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Customers Bancorp news, insider Glenn Hedde sold 666 shares of the company’s stock in a transaction 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 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 legal filing with the SEC, which is accessible through this link. Also, CFO Carla A. Leibold sold 35,832 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 41,224 shares in the company, valued at $2,191,055.60. The disclosure for this sale can be found here. Company insiders own 9.40% of the company’s stock.

Institutional Trading of Customers Bancorp

Several institutional investors and hedge funds have recently modified their holdings of CUBI. Gyon Technologies Capital Management LP acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at about $38,000. Tower Research Capital LLC TRC increased its stake in shares of Customers Bancorp by 129.2% in the first quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank’s stock valued at $41,000 after buying an additional 1,253 shares during the period. Belpointe Asset Management LLC increased its stake in shares of Customers Bancorp by 722.5% in the first quarter. Belpointe Asset Management LLC now owns 2,673 shares of the bank’s stock valued at $50,000 after buying an additional 2,348 shares during the period. Coppell Advisory Solutions LLC acquired a new stake in shares of Customers Bancorp in the second quarter valued at about $56,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Customers Bancorp by 2,691.7% in the first quarter. Meeder Asset Management Inc. now owns 5,053 shares of the bank’s stock valued at $94,000 after buying an additional 4,872 shares during the period. 89.29% of the stock is currently owned by institutional investors.

About Customers Bancorp

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.