Customers Bancorp, Inc. (NYSE:CUBI) Expected to Announce Earnings of $2.06 Per Share

Wall Street analysts predict that Customers Bancorp, Inc. (NYSE:CUBI) will post earnings per share of $2.06 for the current quarter, Zacks reports. Four analysts have made estimates for Customers Bancorp’s earnings. The highest EPS estimate is $2.25 and the lowest is $1.90. Customers Bancorp reported earnings per share of $1.20 in the same quarter last year, which indicates a positive year-over-year growth rate of 71.7%. The company is expected to issue its next earnings report on Wednesday, October 27th.

According to Zacks, 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 financial year, analysts forecast that the firm will post earnings of $7.05 per share, with EPS estimates ranging from $5.60 to $8.65. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Customers Bancorp.

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

CUBI has been the topic of a number of research analyst reports. Wedbush lifted their price target on shares of Customers Bancorp from $42.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, June 23rd. 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. Zacks Investment Research downgraded shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, August 2nd. Finally, 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. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $40.67.

A number of institutional investors have recently added to or reduced their stakes in CUBI. Meeder Asset Management Inc. increased its stake in Customers Bancorp by 1,231.7% during the 1st quarter. Meeder Asset Management Inc. now owns 3,529 shares of the bank’s stock worth $113,000 after buying an additional 3,264 shares during the period. Virginia Retirement Systems ET AL increased its stake in Customers Bancorp by 10.3% during the 1st 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 during the period. Hussman Strategic Advisors Inc. purchased a new stake in Customers Bancorp during the 1st quarter worth $458,000. Los Angeles Capital Management LLC increased its stake in Customers Bancorp by 18.6% during the 1st 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 during the period. Finally, Professional Financial Advisors LLC purchased a new stake in Customers Bancorp during the 1st quarter worth $390,000. 80.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CUBI traded up $1.71 during mid-day trading on Wednesday, reaching $38.95. The company had a trading volume of 2,984 shares, compared to its average volume of 244,043. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 6.62 and a beta of 1.60. The firm has a fifty day simple moving average of $38.58 and a 200-day simple moving average of $36.09. Customers Bancorp has a fifty-two week low of $10.41 and a fifty-two week high of $43.86. 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 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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