Customers Bancorp, Inc. (NYSE:CUBI) Expected to Post Quarterly Sales of $173.09 Million

Equities research analysts predict that Customers Bancorp, Inc. (NYSE:CUBIGet Rating) will announce sales of $173.09 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Customers Bancorp’s earnings. The lowest sales estimate is $164.80 million and the highest is $179.45 million. Customers Bancorp posted sales of $155.58 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.3%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Customers Bancorp will report full-year sales of $719.66 million for the current fiscal year, with estimates ranging from $703.39 million to $754.95 million. For the next financial year, analysts forecast that the business will post sales of $705.09 million, with estimates ranging from $642.30 million to $769.41 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Customers Bancorp.

Several brokerages have issued reports on CUBI. Stephens began coverage on Customers Bancorp in a research note on Monday, March 28th. They set an “equal weight” rating and a $62.50 price objective on the stock. Zacks Investment Research raised Customers Bancorp from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Friday, May 6th. Maxim Group reaffirmed a “buy” rating and set a $85.00 target price on shares of Customers Bancorp in a report on Friday, April 29th. StockNews.com assumed coverage on Customers Bancorp in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Keefe, Bruyette & Woods raised Customers Bancorp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $72.00 to $80.00 in a report on Monday, March 28th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $69.31.

Shares of CUBI opened at $41.17 on Friday. The stock’s 50-day moving average is $44.85 and its two-hundred day moving average is $55.42. Customers Bancorp has a 12 month low of $34.55 and a 12 month high of $76.13. The stock has a market cap of $1.36 billion, a PE ratio of 4.11 and a beta of 1.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.81 and a quick ratio of 0.81.

In related news, CEO Samvir S. Sidhu acquired 2,965 shares of the business’s stock in a transaction dated Friday, May 6th. The stock was bought at an average price of $42.10 per share, for a total transaction of $124,826.50. Following the transaction, the chief executive officer now owns 80,637 shares of the company’s stock, valued at $3,394,817.70. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lyle Cunningham sold 1,000 shares of the stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $43.06, for a total value of $43,060.00. Following the sale, the director now owns 11,051 shares of the company’s stock, valued at approximately $475,856.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 4,465 shares of company stock valued at $186,912. 10.23% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Maryland State Retirement & Pension System lifted its position in shares of Customers Bancorp by 1.4% during the 4th quarter. Maryland State Retirement & Pension System now owns 11,888 shares of the bank’s stock valued at $777,000 after acquiring an additional 161 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Customers Bancorp by 9.0% in the third quarter. Captrust Financial Advisors now owns 2,801 shares of the bank’s stock valued at $120,000 after purchasing an additional 231 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Customers Bancorp by 70.5% in the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank’s stock valued at $44,000 after purchasing an additional 284 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Customers Bancorp by 7.1% in the first quarter. Mutual of America Capital Management LLC now owns 4,364 shares of the bank’s stock valued at $228,000 after purchasing an additional 290 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Customers Bancorp by 1.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 18,133 shares of the bank’s stock valued at $1,185,000 after purchasing an additional 292 shares in the last quarter. Institutional investors own 83.48% of the company’s stock.

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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