$1.66 Earnings Per Share Expected for Customers Bancorp, Inc. (NYSE:CUBI) This Quarter

Wall Street brokerages predict that Customers Bancorp, Inc. (NYSE:CUBIGet Rating) will report earnings of $1.66 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Customers Bancorp’s earnings. The highest EPS estimate is $2.34 and the lowest is $1.38. Customers Bancorp reported earnings of $2.14 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 22.4%. The business is scheduled to report its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Customers Bancorp will report full year earnings of $6.56 per share for the current financial year, with EPS estimates ranging from $4.22 to $7.55. For the next financial year, analysts expect that the firm will post earnings of $6.60 per share, with EPS estimates ranging from $6.20 to $7.25. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Customers Bancorp.

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

A number of analysts recently weighed in on the company. Stephens started coverage on Customers Bancorp in a research note on Monday, March 28th. They issued an “equal weight” rating and a $62.50 price target on the stock. StockNews.com began coverage on shares of Customers Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock. B. Riley cut their price target on shares of Customers Bancorp from $100.00 to $90.00 in a report on Tuesday. Wedbush boosted their price objective on shares of Customers Bancorp from $75.00 to $80.00 in a report on Wednesday, January 26th. Finally, Keefe, Bruyette & Woods raised shares of Customers Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the company from $72.00 to $80.00 in a report on Monday, March 28th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Customers Bancorp currently has an average rating of “Buy” and an average price target of $69.31.

Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in Customers Bancorp by 501.5% during the 4th quarter. Victory Capital Management Inc. now owns 570,420 shares of the bank’s stock valued at $37,288,000 after buying an additional 475,590 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Customers Bancorp by 258.6% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 520,600 shares of the bank’s stock valued at $34,032,000 after acquiring an additional 375,419 shares during the last quarter. Emerald Advisers LLC increased its position in Customers Bancorp by 4,060.0% during the 4th quarter. Emerald Advisers LLC now owns 333,636 shares of the bank’s stock worth $21,810,000 after purchasing an additional 325,616 shares in the last quarter. Toroso Investments LLC acquired a new position in Customers Bancorp in the 4th quarter valued at about $14,603,000. Finally, Nordea Investment Management AB lifted its holdings in Customers Bancorp by 97.0% in the 3rd quarter. Nordea Investment Management AB now owns 418,154 shares of the bank’s stock valued at $18,106,000 after purchasing an additional 205,867 shares in the last quarter. Institutional investors and hedge funds own 83.73% of the company’s stock.

NYSE CUBI opened at $44.08 on Friday. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 4.98 and a beta of 1.54. The business’s 50 day moving average is $55.36 and its two-hundred day moving average is $56.95. Customers Bancorp has a 12-month low of $29.17 and a 12-month high of $76.13. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72.

About Customers Bancorp (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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