Brokerages Expect Customers Bancorp, Inc. (NYSE:CUBI) to Post $2.06 Earnings Per Share

Equities analysts expect Customers Bancorp, Inc. (NYSE:CUBI) to announce earnings of $2.06 per share for the current quarter, Zacks reports. Four analysts have provided estimates for Customers Bancorp’s earnings. The highest EPS estimate is $2.25 and the lowest is $1.90. Customers Bancorp posted earnings per share of $1.20 during the same quarter last year, which suggests a positive year over year growth rate of 71.7%. The company is expected to issue its next quarterly earnings report on Wednesday, October 27th.

On average, analysts expect that Customers Bancorp will report full-year earnings of $7.25 per share for the current financial year, with EPS estimates ranging from $6.78 to $7.61. For the next year, analysts forecast that the business will report earnings of $7.05 per share, with EPS estimates ranging from $5.60 to $8.65. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Customers Bancorp.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Tuesday, July 27th. The bank reported $1.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.08 by ($0.26). Customers Bancorp had a net margin of 28.85% and a return on equity of 25.04%. The business had revenue of $155.58 million during the quarter, compared to analyst estimates of $166.17 million.

CUBI has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Customers Bancorp from a “hold” rating to a “sell” rating in a report on Monday, August 2nd. Maxim Group reissued a “buy” rating and issued a $52.00 target price on shares of Customers Bancorp in a research note on Friday, July 30th. B. Riley raised their target price on shares of Customers Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 27th. Finally, Wedbush raised their target price on shares of Customers Bancorp from $42.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, June 23rd. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, Customers Bancorp has an average rating of “Buy” and an average price target of $40.67.

A number of hedge funds have recently added to or reduced their stakes in CUBI. Meeder Asset Management Inc. boosted its position in Customers Bancorp by 1,231.7% during the first quarter. Meeder Asset Management Inc. now owns 3,529 shares of the bank’s stock worth $113,000 after purchasing an additional 3,264 shares during the period. Virginia Retirement Systems ET AL lifted its holdings in shares of Customers Bancorp by 10.3% during the first quarter. Virginia Retirement Systems ET AL now owns 40,700 shares of the bank’s stock worth $1,295,000 after buying an additional 3,800 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in shares of Customers Bancorp during the first quarter worth $458,000. Los Angeles Capital Management LLC lifted its holdings in shares of Customers Bancorp by 18.6% during the first quarter. Los Angeles Capital Management LLC now owns 46,642 shares of the bank’s stock worth $1,484,000 after buying an additional 7,305 shares in the last quarter. Finally, Professional Financial Advisors LLC acquired a new stake in shares of Customers Bancorp during the first quarter worth $390,000. 80.19% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE CUBI traded up $1.71 during midday trading on Wednesday, reaching $38.95. The company’s stock had a trading volume of 2,984 shares, compared to its average volume of 244,043. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.18. Customers Bancorp has a fifty-two week low of $10.41 and a fifty-two week high of $43.86. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 6.62 and a beta of 1.60. The stock has a 50 day simple moving average of $38.58 and a 200-day simple moving average of $36.09.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as a bank holding company, which engages in the provision of banking services through its subsidiary, Customers Bank. It operates through the Customers Bank Business Banking and BankMobile segments. The Customers Bank Business Banking segment include commercial customers in Southeastern Pennsylvania, New York, New Jersey, Massachusetts, Rhode Island, New Hampshire, Washington, DC, and Illinois through a single-point-of-contact business model and provides liquidity to residential mortgage originators nationwide through commercial loans to mortgage companies.

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

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