Zacks: Analysts Expect Customers Bancorp Inc (CUBI) Will Post Earnings of $0.39 Per Share

Brokerages forecast that Customers Bancorp Inc (NYSE:CUBI) will report earnings per share of $0.39 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Customers Bancorp’s earnings, with estimates ranging from $0.31 to $0.48. Customers Bancorp posted earnings of $0.64 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 39.1%. The business is scheduled to announce its next earnings results on Monday, April 29th.

On average, analysts expect that Customers Bancorp will report full year earnings of $2.15 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.25. For the next fiscal year, analysts forecast that the business will post earnings of $2.37 per share, with EPS estimates ranging from $2.35 to $2.40. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Customers Bancorp.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, January 24th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02. Customers Bancorp had a net margin of 15.03% and a return on equity of 12.82%. The company had revenue of $61.50 million during the quarter, compared to the consensus estimate of $64.38 million. During the same period last year, the firm earned $0.55 EPS. The company’s revenue for the quarter was down 10.0% on a year-over-year basis.



Several brokerages recently issued reports on CUBI. Zacks Investment Research upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Boenning Scattergood restated a “buy” rating on shares of Customers Bancorp in a research report on Friday, January 25th. Maxim Group cut their price objective on Customers Bancorp to $38.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. They noted that the move was a valuation call. B. Riley downgraded Customers Bancorp from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $29.00 to $23.00 in a research report on Thursday, November 8th. Finally, ValuEngine cut shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Customers Bancorp presently has a consensus rating of “Hold” and a consensus price target of $28.55.

In other Customers Bancorp news, COO Richard A. Ehst sold 13,370 shares of Customers Bancorp stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $18.01, for a total value of $240,793.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.71% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Customers Bancorp by 116.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,726 shares of the bank’s stock worth $31,000 after buying an additional 928 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Customers Bancorp in the fourth quarter valued at about $75,000. Financial Gravity Companies Inc. acquired a new position in shares of Customers Bancorp in the fourth quarter valued at about $127,000. Neuburgh Advisers LLC grew its stake in shares of Customers Bancorp by 16.4% in the fourth quarter. Neuburgh Advisers LLC now owns 7,656 shares of the bank’s stock valued at $139,000 after acquiring an additional 1,078 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in shares of Customers Bancorp by 2,252.4% in the third quarter. Rehmann Capital Advisory Group now owns 3,364 shares of the bank’s stock valued at $143,000 after acquiring an additional 3,221 shares in the last quarter. 78.47% of the stock is owned by hedge funds and other institutional investors.

Shares of CUBI stock traded up $0.28 during midday trading on Thursday, reaching $21.77. 1,985 shares of the company traded hands, compared to its average volume of 207,497. Customers Bancorp has a 1-year low of $16.72 and a 1-year high of $32.34. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.84. The company has a market cap of $680.95 million, a price-to-earnings ratio of 8.98, a PEG ratio of 0.97 and a beta of 0.80.

About Customers Bancorp

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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