Customers Bancorp (NYSE:CUBI) Releases FY 2020 After-Hours Earnings Guidance

Customers Bancorp (NYSE:CUBI) updated its FY 2020
After-Hours earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 3.00-3.00 for the period, compared to the Thomson Reuters consensus estimate of $2.94. Customers Bancorp also updated its FY 2025
After-Hours guidance to 6.00-6.00 EPS.

Several equities research analysts recently weighed in on the company. TheStreet raised Customers Bancorp from a c rating to a b- rating in a report on Friday, November 1st. ValuEngine raised Customers Bancorp from a strong sell rating to a sell rating in a report on Saturday, January 4th. Maxim Group reaffirmed a buy rating and set a $38.00 price target on shares of Customers Bancorp in a report on Friday, October 25th. Finally, Zacks Investment Research downgraded Customers Bancorp from a hold rating to a sell rating in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Customers Bancorp presently has a consensus rating of Hold and a consensus target price of $32.00.

Shares of NYSE CUBI traded up $0.62 during mid-day trading on Friday, hitting $24.15. 16,352 shares of the company were exchanged, compared to its average volume of 124,904. The company has a quick ratio of 1.04, a current ratio of 1.09 and a debt-to-equity ratio of 1.43. The stock has a 50 day simple moving average of $23.33 and a 200-day simple moving average of $21.59. Customers Bancorp has a 1-year low of $17.35 and a 1-year high of $25.72. The firm has a market cap of $710.97 million, a price-to-earnings ratio of 11.78 and a beta of 1.09.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Customers Bancorp had a return on equity of 10.53% and a net margin of 14.56%. The firm had revenue of $99.10 million during the quarter, compared to the consensus estimate of $93.36 million. During the same period last year, the company earned $0.62 earnings per share. Analysts anticipate that Customers Bancorp will post 2.98 earnings per share for the current fiscal year.

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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