Brokerages Expect Customers Bancorp Inc (NYSE:CUBI) to Announce $0.81 Earnings Per Share

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Brokerages expect Customers Bancorp Inc (NYSE:CUBI) to announce $0.81 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Customers Bancorp’s earnings. The lowest EPS estimate is $0.71 and the highest is $0.90. Customers Bancorp reported earnings per share of $0.53 in the same quarter last year, which suggests a positive year over year growth rate of 52.8%. The company is expected to report its next quarterly earnings report on Thursday, January 23rd.

According to Zacks, analysts expect that Customers Bancorp will report full year earnings of $2.11 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.21. For the next year, analysts forecast that the company will report earnings of $3.10 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Customers Bancorp.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. Customers Bancorp had a net margin of 13.45% and a return on equity of 9.72%. The company had revenue of $99.10 million for the quarter, compared to analyst estimates of $93.36 million. During the same period in the prior year, the company posted $0.62 EPS.

A number of brokerages have recently commented on CUBI. ValuEngine lowered shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 14th. TheStreet raised shares of Customers Bancorp from a “c” rating to a “b-” rating in a research report on Friday, November 1st. Zacks Investment Research raised shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Thursday, October 31st. Finally, Maxim Group reaffirmed a “buy” rating and set a $38.00 target price on shares of Customers Bancorp in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $29.69.

Shares of NYSE:CUBI traded down $0.39 during trading on Friday, reaching $23.86. 116,500 shares of the company were exchanged, compared to its average volume of 160,673. The firm has a market capitalization of $739.78 million, a PE ratio of 9.82 and a beta of 1.08. The business’s fifty day simple moving average is $23.80 and its 200-day simple moving average is $20.97. Customers Bancorp has a 12-month low of $16.72 and a 12-month high of $25.72. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.09 and a quick ratio of 1.04.

In other news, insider James T. Collins sold 1,519 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $21.17, for a total transaction of $32,157.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 9.54% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Customers Bancorp by 0.7% during the second quarter. BlackRock Inc. now owns 4,348,588 shares of the bank’s stock valued at $91,320,000 after buying an additional 28,107 shares during the period. Nuveen Asset Management LLC purchased a new position in Customers Bancorp during the second quarter valued at approximately $14,422,000. Invesco Ltd. increased its holdings in Customers Bancorp by 338.7% during the second quarter. Invesco Ltd. now owns 640,090 shares of the bank’s stock valued at $13,442,000 after buying an additional 494,195 shares during the period. Matthew 25 Management Corp increased its holdings in Customers Bancorp by 25.6% during the second quarter. Matthew 25 Management Corp now owns 507,500 shares of the bank’s stock valued at $10,658,000 after buying an additional 103,500 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Customers Bancorp by 88.0% during the second quarter. Wells Fargo & Company MN now owns 426,630 shares of the bank’s stock valued at $8,959,000 after buying an additional 199,732 shares during the period. 79.99% of the stock is currently owned by institutional investors.

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

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