B. Riley Research Analysts Boost Earnings Estimates for Customers Bancorp, Inc. (NYSE:CUBI)

Customers Bancorp, Inc. (NYSE:CUBI) – Stock analysts at B. Riley upped their Q4 2024 earnings per share estimates for shares of Customers Bancorp in a report issued on Friday, April 12th. B. Riley analyst H. Goetsch now expects that the bank will earn $1.81 per share for the quarter, up from their previous forecast of $1.73. B. Riley currently has a “Buy” rating and a $77.00 price target on the stock. The consensus estimate for Customers Bancorp’s current full-year earnings is $6.87 per share.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, January 25th. The bank reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.14. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. The firm had revenue of $191.18 million for the quarter, compared to the consensus estimate of $187.87 million.

Other equities research analysts also recently issued reports about the company. Wedbush cut their price target on Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Raymond James increased their price target on Customers Bancorp from $65.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 29th. Finally, Jefferies Financial Group increased their price target on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $61.86.

Customers Bancorp Price Performance

NYSE CUBI opened at $46.32 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.93 and a quick ratio of 0.91. The stock’s fifty day moving average price is $51.99 and its 200 day moving average price is $48.35. Customers Bancorp has a 1 year low of $15.80 and a 1 year high of $60.09. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 6.34 and a beta of 1.67.

Hedge Funds Weigh In On Customers Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CUBI. State Street Corp boosted its stake in Customers Bancorp by 56.3% during the first quarter. State Street Corp now owns 2,282,972 shares of the bank’s stock worth $119,034,000 after buying an additional 822,072 shares during the last quarter. Wellington Management Group LLP boosted its stake in Customers Bancorp by 28.7% during the third quarter. Wellington Management Group LLP now owns 2,132,205 shares of the bank’s stock worth $73,454,000 after buying an additional 475,907 shares during the last quarter. Millennium Management LLC boosted its stake in Customers Bancorp by 722.1% during the fourth quarter. Millennium Management LLC now owns 380,320 shares of the bank’s stock worth $10,778,000 after buying an additional 334,057 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Customers Bancorp by 37.1% during the third quarter. JPMorgan Chase & Co. now owns 1,067,489 shares of the bank’s stock worth $36,775,000 after buying an additional 288,975 shares during the last quarter. Finally, Access Investment Management LLC acquired a new position in Customers Bancorp during the fourth quarter worth $16,194,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Activity

In other news, CFO Carla A. Leibold sold 35,832 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the sale, the chief financial officer now directly owns 41,224 shares in the company, valued at approximately $2,191,055.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total value of $36,097.20. Following the sale, the insider now directly owns 69,428 shares in the company, valued at approximately $3,762,997.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the sale, the chief financial officer now owns 41,224 shares in the company, valued at $2,191,055.60. The disclosure for this sale can be found here. Insiders own 9.40% of the company’s stock.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.