Brokers Set Expectations for Customers Bancorp, Inc.’s Q2 2024 Earnings (NYSE:CUBI)

Customers Bancorp, Inc. (NYSE:CUBI) – Investment analysts at Wedbush cut their Q2 2024 EPS estimates for shares of Customers Bancorp in a report issued on Friday, April 26th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings of $1.72 per share for the quarter, down from their previous estimate of $1.77. Wedbush has a “Outperform” rating and a $61.00 price target on the stock. The consensus estimate for Customers Bancorp’s current full-year earnings is $6.85 per share. Wedbush also issued estimates for Customers Bancorp’s Q1 2025 earnings at $1.88 EPS, Q2 2025 earnings at $1.86 EPS, Q3 2025 earnings at $1.92 EPS and Q4 2025 earnings at $1.89 EPS.

Other analysts also recently issued research reports about the company. Raymond James lifted their target price on Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Monday, January 29th. B. Riley boosted their price target on Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, Jefferies Financial Group increased their price objective on Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Customers Bancorp currently has an average rating of “Moderate Buy” and an average target price of $61.29.

Customers Bancorp Stock Down 5.5 %

Customers Bancorp stock opened at $46.82 on Monday. The company has a fifty day simple moving average of $51.40 and a 200 day simple moving average of $49.10. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92. 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 $1.47 billion, a P/E ratio of 6.54 and a beta of 1.67.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Friday, April 26th. The bank reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.06. Customers Bancorp had a return on equity of 18.62% and a net margin of 16.88%. The firm had revenue of $181.62 million during the quarter, compared to the consensus estimate of $183.48 million. During the same quarter in the prior year, the firm posted $1.58 EPS. The business’s revenue was up 8.1% on a year-over-year basis.

Insider Buying and Selling at Customers Bancorp

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

Institutional Trading of Customers Bancorp

Several institutional investors have recently added to or reduced their stakes in CUBI. BluePath Capital Management LLC bought a new stake in Customers Bancorp in the 3rd quarter valued at about $31,000. GAMMA Investing LLC acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at approximately $78,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Customers Bancorp in the third quarter valued at approximately $112,000. Federated Hermes Inc. grew its position in Customers Bancorp by 29,550.0% during the third quarter. Federated Hermes Inc. now owns 3,558 shares of the bank’s stock worth $123,000 after buying an additional 3,546 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in Customers Bancorp during the 4th quarter worth $209,000. 89.29% of the stock is currently owned by institutional investors.

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.