Equities analysts predict that Customers Bancorp Inc (NYSE:CUBI) will report sales of $83.93 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Customers Bancorp’s earnings, with the lowest sales estimate coming in at $78.42 million and the highest estimate coming in at $87.22 million. Customers Bancorp posted sales of $83.45 million in the same quarter last year, which suggests a positive year over year growth rate of 0.6%. The firm is expected to report its next earnings results on Wednesday, July 24th.
According to Zacks, analysts expect that Customers Bancorp will report full-year sales of $339.97 million for the current fiscal year, with estimates ranging from $323.99 million to $351.50 million. For the next year, analysts forecast that the business will post sales of $359.52 million, with estimates ranging from $340.07 million to $370.25 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Customers Bancorp.
Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Customers Bancorp had a net margin of 13.13% and a return on equity of 10.90%. The business had revenue of $79.02 million for the quarter, compared to analyst estimates of $82.68 million. During the same period last year, the firm earned $0.64 earnings per share.
A number of equities analysts recently commented on the stock. ValuEngine raised shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 16th. TheStreet raised shares of Customers Bancorp from a “c+” rating to a “b-” rating in a research report on Monday, May 6th. Finally, B. Riley set a $30.00 price target on shares of Customers Bancorp and gave the stock a “buy” rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Customers Bancorp presently has a consensus rating of “Buy” and an average target price of $29.95.
NYSE:CUBI traded up $0.13 during mid-day trading on Friday, reaching $20.57. 68,956 shares of the company’s stock were exchanged, compared to its average volume of 174,743. Customers Bancorp has a one year low of $16.72 and a one year high of $32.34. The firm has a market cap of $640.67 million, a price-to-earnings ratio of 8.47, a P/E/G ratio of 0.96 and a beta of 0.94. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.10 and a current ratio of 1.10.
In other Customers Bancorp news, VP Steven Issa sold 6,926 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $20.48, for a total transaction of $141,844.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Glenn Hedde sold 1,276 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $21.65, for a total transaction of $27,625.40. The disclosure for this sale can be found here. Insiders have sold 16,004 shares of company stock worth $337,759 over the last quarter. Corporate insiders own 9.54% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. GYL Financial Synergies LLC acquired a new stake in Customers Bancorp during the first quarter worth about $1,107,000. Nordea Investment Management AB grew its stake in Customers Bancorp by 1.5% during the first quarter. Nordea Investment Management AB now owns 305,313 shares of the bank’s stock worth $5,591,000 after buying an additional 4,591 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Customers Bancorp by 144.6% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 266,147 shares of the bank’s stock worth $4,873,000 after buying an additional 157,320 shares in the last quarter. Man Group plc grew its stake in Customers Bancorp by 15.6% during the first quarter. Man Group plc now owns 397,146 shares of the bank’s stock worth $7,272,000 after buying an additional 53,600 shares in the last quarter. Finally, SEI Investments Co grew its stake in Customers Bancorp by 31.7% during the first quarter. SEI Investments Co now owns 175,339 shares of the bank’s stock worth $3,210,000 after buying an additional 42,201 shares in the last quarter. Hedge funds and other institutional investors own 79.37% of the company’s stock.
Customers Bancorp Company Profile
Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.
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