Customers Bancorp (NYSE:CUBI) announced its earnings results on Thursday. The bank reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.03), Fidelity Earnings reports. The business had revenue of $66.09 million for the quarter, compared to analysts’ expectations of $64.64 million. Customers Bancorp had a return on equity of 12.75% and a net margin of 16.24%.
NYSE:CUBI traded up $1.88 during midday trading on Friday, reaching $21.08. The stock had a trading volume of 576,959 shares, compared to its average volume of 209,968. Customers Bancorp has a 12-month low of $18.57 and a 12-month high of $32.34. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.22 and a quick ratio of 0.97. The firm has a market cap of $606.48 million, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 0.85 and a beta of 0.72.
A number of equities analysts have recently issued reports on the stock. Boenning Scattergood upgraded shares of Customers Bancorp from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Friday. ValuEngine lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Zacks Investment Research lowered shares of Customers Bancorp from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 18th. Maxim Group restated a “buy” rating and set a $46.00 target price on shares of Customers Bancorp in a research report on Tuesday, August 14th. Finally, Sandler O’Neill set a $27.00 target price on shares of 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, one has assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $33.67.
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.
Recommended Story: Intrinsic Value
Receive News & Ratings for Customers Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Customers Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.