Wall Street brokerages predict that Customers Bancorp Inc (NYSE:CUBI) will announce $0.62 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Customers Bancorp’s earnings. Customers Bancorp reported earnings of $0.38 per share in the same quarter last year, which indicates a positive year over year growth rate of 63.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 22nd.
According to Zacks, analysts expect that Customers Bancorp will report full year earnings of $2.98 per share for the current year, with EPS estimates ranging from $2.87 to $3.10. For the next year, analysts expect that the company will report earnings of $3.30 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Customers Bancorp.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $99.10 million during the quarter, compared to the consensus estimate of $93.36 million. Customers Bancorp had a return on equity of 10.53% and a net margin of 14.56%. During the same quarter last year, the company posted $0.62 EPS.
CUBI has been the topic of a number of recent analyst reports. ValuEngine upgraded Customers Bancorp from a “strong sell” rating to a “sell” rating in a research report on Saturday, January 4th. Maxim Group restated a “buy” rating and set a $38.00 price target on shares of Customers Bancorp in a research report on Friday, October 25th. Zacks Investment Research downgraded Customers Bancorp from a “hold” rating to a “sell” rating in a report on Friday, January 10th. Finally, TheStreet raised Customers Bancorp from a “c” rating to a “b-” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $32.00.
Several institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its holdings in shares of Customers Bancorp by 250.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 11,868 shares of the bank’s stock worth $246,000 after purchasing an additional 8,482 shares during the last quarter. Rhumbline Advisers increased its position in shares of Customers Bancorp by 6.2% during the third quarter. Rhumbline Advisers now owns 91,968 shares of the bank’s stock worth $1,907,000 after acquiring an additional 5,408 shares during the period. Millennium Management LLC increased its holdings in Customers Bancorp by 148.1% in the third quarter. Millennium Management LLC now owns 199,924 shares of the bank’s stock valued at $4,146,000 after buying an additional 119,327 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Customers Bancorp by 210.2% in the third quarter. Public Employees Retirement System of Ohio now owns 10,818 shares of the bank’s stock valued at $224,000 after acquiring an additional 7,331 shares in the last quarter. Finally, Chicago Equity Partners LLC boosted its stake in Customers Bancorp by 53.7% in the third quarter. Chicago Equity Partners LLC now owns 50,135 shares of the bank’s stock valued at $1,040,000 after acquiring an additional 17,520 shares in the last quarter. Hedge funds and other institutional investors own 79.85% of the company’s stock.
Shares of Customers Bancorp stock opened at $23.49 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.09 and a quick ratio of 1.04. The business’s 50 day simple moving average is $23.34 and its two-hundred day simple moving average is $21.61. The stock has a market capitalization of $736.97 million, a P/E ratio of 10.46 and a beta of 1.09. Customers Bancorp has a one year low of $17.35 and a one year high of $25.72.
About Customers Bancorp
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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