Customers Bancorp, Inc. to Post Q2 2022 Earnings of $2.03 Per Share, Jefferies Financial Group Forecasts (NYSE:CUBI)

Customers Bancorp, Inc. (NYSE:CUBIGet Rating) – Jefferies Financial Group boosted their Q2 2022 earnings per share estimates for Customers Bancorp in a report issued on Monday, April 11th. Jefferies Financial Group analyst C. Haire now expects that the bank will post earnings of $2.03 per share for the quarter, up from their prior forecast of $1.89. Jefferies Financial Group also issued estimates for Customers Bancorp’s Q3 2022 earnings at $1.70 EPS, Q1 2023 earnings at $1.78 EPS, Q2 2023 earnings at $1.76 EPS, Q4 2023 earnings at $1.62 EPS and FY2023 earnings at $6.85 EPS.

A number of other research firms also recently issued reports on CUBI. B. Riley dropped their target price on shares of Customers Bancorp from $100.00 to $90.00 in a research report on Tuesday. Stephens began coverage on Customers Bancorp in a research note on Monday, March 28th. They set an “equal weight” rating and a $62.50 target price on the stock. Maxim Group boosted their target price on Customers Bancorp from $75.00 to $85.00 in a report on Wednesday, January 26th. StockNews.com initiated coverage on Customers Bancorp in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods upgraded Customers Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $72.00 to $80.00 in a report on Monday, March 28th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $69.31.

NYSE:CUBI opened at $44.41 on Tuesday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 5.02 and a beta of 1.54. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average is $56.35 and its two-hundred day moving average is $57.00. Customers Bancorp has a 12-month low of $29.17 and a 12-month high of $76.13.

Customers Bancorp (NYSE:CUBIGet Rating) last announced its earnings results on Monday, January 24th. The bank reported $2.92 EPS for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.02). Customers Bancorp had a net margin of 36.64% and a return on equity of 32.38%. The business had revenue of $210.69 million during the quarter, compared to analyst estimates of $225.40 million. During the same period in the previous year, the firm earned $1.65 earnings per share.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CUBI. Victory Capital Management Inc. raised its holdings in Customers Bancorp by 501.5% in the 4th quarter. Victory Capital Management Inc. now owns 570,420 shares of the bank’s stock worth $37,288,000 after purchasing an additional 475,590 shares during the period. JPMorgan Chase & Co. grew its position in Customers Bancorp by 5.9% in the fourth quarter. JPMorgan Chase & Co. now owns 557,238 shares of the bank’s stock worth $36,427,000 after acquiring an additional 30,974 shares in the last quarter. Geode Capital Management LLC grew its position in Customers Bancorp by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 522,349 shares of the bank’s stock worth $34,145,000 after acquiring an additional 2,223 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its position in Customers Bancorp by 258.6% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 520,600 shares of the bank’s stock worth $34,032,000 after acquiring an additional 375,419 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of Customers Bancorp by 17.5% during the third quarter. Lord Abbett & CO. LLC now owns 481,862 shares of the bank’s stock valued at $20,730,000 after buying an additional 71,600 shares during the period. 83.73% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Company Profile (Get Rating)

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 offers deposits products, including checking, savings, MMDA, and other deposits accounts. It offers loan products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans.

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

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