Customers Bancorp (CUBI) to Release Quarterly Earnings on Thursday

Customers Bancorp (NYSE:CUBI) is scheduled to post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Customers Bancorp to post earnings of $1.62 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. The company had revenue of $191.18 million for the quarter, compared to analyst estimates of $187.87 million. On average, analysts expect Customers Bancorp to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Customers Bancorp Trading Up 0.2 %

Shares of CUBI opened at $46.45 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.92. Customers Bancorp has a 12-month low of $15.80 and a 12-month high of $60.09. The firm has a market capitalization of $1.46 billion, a PE ratio of 6.35 and a beta of 1.67. The stock’s fifty day simple moving average is $51.91 and its 200-day simple moving average is $48.33.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Gyon Technologies Capital Management LP purchased a new stake in Customers Bancorp in the fourth quarter worth $38,000. Tower Research Capital LLC TRC raised its position in Customers Bancorp by 129.2% during the first quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,253 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in shares of Customers Bancorp by 722.5% in the first quarter. Belpointe Asset Management LLC now owns 2,673 shares of the bank’s stock worth $50,000 after buying an additional 2,348 shares during the period. Coppell Advisory Solutions LLC purchased a new position in shares of Customers Bancorp in the second quarter worth about $56,000. Finally, Meeder Asset Management Inc. increased its holdings in Customers Bancorp by 2,691.7% during the 1st quarter. Meeder Asset Management Inc. now owns 5,053 shares of the bank’s stock valued at $94,000 after purchasing an additional 4,872 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CUBI shares. Wedbush lowered their price target on Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, January 26th. 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 report on Monday, April 8th. 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 report on Monday, January 29th. Finally, B. Riley increased their price objective on Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.86.

Customers Bancorp Company Profile

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.