Analysts Anticipate Customers Bancorp Inc (CUBI) to Announce $0.51 Earnings Per Share

Equities research analysts predict that Customers Bancorp Inc (NYSE:CUBI) will post earnings of $0.51 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Customers Bancorp’s earnings, with estimates ranging from $0.50 to $0.51. Customers Bancorp posted earnings of $0.61 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 16.4%. The firm is scheduled to announce its next earnings report after the market closes on Thursday, October 25th.

According to Zacks, analysts expect that Customers Bancorp will report full year earnings of $2.26 per share for the current year, with EPS estimates ranging from $2.20 to $2.31. For the next financial year, analysts forecast that the company will report earnings of $2.25 per share, with EPS estimates ranging from $2.15 to $2.45. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Customers Bancorp.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, July 25th. The bank reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.07. Customers Bancorp had a return on equity of 12.75% and a net margin of 16.24%. The company had revenue of $83.45 million during the quarter, compared to analyst estimates of $86.16 million. During the same period last year, the company posted $0.78 earnings per share.

A number of analysts recently commented on the company. Zacks Investment Research lowered Customers Bancorp from a “hold” rating to a “strong sell” rating in a research report on Thursday. Maxim Group reiterated a “buy” rating and issued a $46.00 price objective on shares of Customers Bancorp in a research report on Tuesday, August 14th. ValuEngine lowered Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, August 13th. Boenning Scattergood reiterated a “hold” rating on shares of Customers Bancorp in a research report on Wednesday. Finally, Sandler O’Neill set a $27.00 price objective on Customers Bancorp and gave the stock a “hold” rating in a research report on Monday, September 24th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $35.80.

Hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP bought a new position in Customers Bancorp during the second quarter worth about $1,406,000. OppenheimerFunds Inc. boosted its holdings in Customers Bancorp by 2.8% during the second quarter. OppenheimerFunds Inc. now owns 452,416 shares of the bank’s stock worth $12,839,000 after buying an additional 12,462 shares during the last quarter. Sei Investments Co. boosted its holdings in Customers Bancorp by 11.7% during the second quarter. Sei Investments Co. now owns 129,305 shares of the bank’s stock worth $3,670,000 after buying an additional 13,499 shares during the last quarter. BlackRock Inc. boosted its holdings in Customers Bancorp by 9.7% during the second quarter. BlackRock Inc. now owns 4,235,667 shares of the bank’s stock worth $120,210,000 after buying an additional 375,171 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Customers Bancorp by 5.2% during the first quarter. Principal Financial Group Inc. now owns 243,728 shares of the bank’s stock worth $7,105,000 after buying an additional 12,127 shares during the last quarter. Hedge funds and other institutional investors own 81.83% of the company’s stock.

Shares of NYSE:CUBI traded down $0.14 during midday trading on Friday, reaching $19.87. The company’s stock had a trading volume of 587,214 shares, compared to its average volume of 306,077. Customers Bancorp has a fifty-two week low of $19.71 and a fifty-two week high of $33.85. The firm has a market cap of $633.71 million, a PE ratio of 9.03, a price-to-earnings-growth ratio of 0.91 and a beta of 0.72. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.97 and a current ratio of 1.22.

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 accepts various deposit products, such as checking, savings, money market deposit, time deposit, individual retirement, and non-retail time deposit accounts, as well as certificates of deposit.

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

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