Q1 2020 EPS Estimates for Customers Bancorp Inc (NYSE:CUBI) Decreased by Analyst

Customers Bancorp Inc (NYSE:CUBI) – Analysts at Piper Sandler dropped their Q1 2020 earnings per share estimates for Customers Bancorp in a research note issued to investors on Monday, March 23rd. Piper Sandler analyst F. Schiraldi now anticipates that the bank will post earnings of $0.57 per share for the quarter, down from their previous estimate of $0.69. Piper Sandler also issued estimates for Customers Bancorp’s Q3 2020 earnings at $0.61 EPS, Q4 2020 earnings at $0.61 EPS, Q1 2021 earnings at $0.55 EPS, Q2 2021 earnings at $0.55 EPS, Q3 2021 earnings at $0.74 EPS and Q4 2021 earnings at $0.77 EPS.

Several other analysts have also weighed in on CUBI. ValuEngine lowered shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 3rd. Zacks Investment Research upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Maxim Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Customers Bancorp in a research note on Tuesday, January 28th. TheStreet lowered shares of Customers Bancorp from a “b-” rating to a “c” rating in a research note on Monday, March 9th. Finally, B. Riley lowered shares of Customers Bancorp from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $30.00 to $14.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Customers Bancorp presently has an average rating of “Hold” and a consensus price target of $26.67.

Customers Bancorp stock opened at $11.12 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.03 and a current ratio of 1.09. Customers Bancorp has a 52-week low of $9.65 and a 52-week high of $25.72. The firm has a 50 day moving average price of $18.49 and a two-hundred day moving average price of $21.51. The firm has a market cap of $314.74 million, a price-to-earnings ratio of 5.42 and a beta of 1.03.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.01). Customers Bancorp had a return on equity of 10.35% and a net margin of 14.56%. The firm had revenue of $103.41 million for the quarter, compared to the consensus estimate of $93.76 million.

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in Customers Bancorp by 250.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 11,868 shares of the bank’s stock valued at $246,000 after purchasing an additional 8,482 shares during the period. Ancora Advisors LLC grew its position in Customers Bancorp by 21.2% in the 3rd quarter. Ancora Advisors LLC now owns 27,383 shares of the bank’s stock valued at $568,000 after purchasing an additional 4,785 shares during the period. California State Teachers Retirement System grew its position in Customers Bancorp by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 44,191 shares of the bank’s stock valued at $917,000 after purchasing an additional 528 shares during the period. Public Employees Retirement System of Ohio grew its position in Customers Bancorp by 210.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 10,818 shares of the bank’s stock valued at $224,000 after purchasing an additional 7,331 shares during the period. Finally, Lingohr & Partner Asset Management GmbH acquired a new stake in Customers Bancorp in the 3rd quarter valued at $562,000. Institutional investors own 81.72% of the company’s stock.

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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Earnings History and Estimates for Customers Bancorp (NYSE:CUBI)

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