Zacks: Brokerages Anticipate Customers Bancorp, Inc (CUBI) Will Post Earnings of $0.52 Per Share

Analysts expect that Customers Bancorp, Inc (NYSE:CUBI) will report $0.52 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Customers Bancorp’s earnings. The highest EPS estimate is $0.59 and the lowest is $0.44. Customers Bancorp posted earnings per share of $0.76 during the same quarter last year, which indicates a negative year over year growth rate of 31.6%. The company is scheduled to issue its next earnings results on Thursday, January 25th.

According to Zacks, analysts expect that Customers Bancorp will report full-year earnings of $2.37 per share for the current fiscal year, with EPS estimates ranging from $2.26 to $2.47. For the next financial year, analysts anticipate that the business will report earnings of $2.43 per share, with EPS estimates ranging from $2.10 to $2.75. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Customers Bancorp.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.09). Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. The company had revenue of $86.05 million for the quarter, compared to analyst estimates of $80.32 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share.

CUBI has been the subject of several analyst reports. Maxim Group reiterated a “buy” rating and issued a $50.00 price target on shares of Customers Bancorp in a report on Friday, October 20th. BidaskClub upgraded Customers Bancorp from a “hold” rating to a “buy” rating in a report on Friday, September 29th. ValuEngine upgraded Customers Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. B. Riley initiated coverage on Customers Bancorp in a report on Friday, December 8th. They issued a “buy” rating and a $35.00 price target for the company. Finally, TheStreet downgraded Customers Bancorp from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $39.25.

In other news, COO Richard A. Ehst sold 9,000 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $26.70, for a total value of $240,300.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rick Burkey sold 1,129 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $26.74, for a total transaction of $30,189.46. Following the completion of the sale, the director now owns 40,919 shares in the company, valued at approximately $1,094,174.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,129 shares of company stock valued at $1,603,489. 8.67% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CUBI. Teachers Advisors LLC raised its stake in Customers Bancorp by 7.1% during the first quarter. Teachers Advisors LLC now owns 69,276 shares of the bank’s stock worth $2,184,000 after acquiring an additional 4,621 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Customers Bancorp by 4.3% in the second quarter. Great West Life Assurance Co. Can now owns 40,844 shares of the bank’s stock valued at $1,155,000 after purchasing an additional 1,675 shares during the period. Texas Permanent School Fund increased its stake in shares of Customers Bancorp by 2.0% in the second quarter. Texas Permanent School Fund now owns 21,025 shares of the bank’s stock valued at $595,000 after purchasing an additional 410 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Customers Bancorp by 54.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 206,314 shares of the bank’s stock valued at $5,835,000 after purchasing an additional 72,689 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Customers Bancorp by 1.4% in the second quarter. Arizona State Retirement System now owns 15,000 shares of the bank’s stock valued at $424,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 87.79% of the company’s stock.

Shares of Customers Bancorp (NYSE CUBI) traded up $0.42 during trading on Friday, hitting $26.94. The company had a trading volume of 184,400 shares, compared to its average volume of 213,603. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.17 and a quick ratio of 0.91. Customers Bancorp has a 1 year low of $24.75 and a 1 year high of $36.93. The firm has a market cap of $816.98, a P/E ratio of 9.27 and a beta of 0.61.

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Customers Bancorp Company Profile

Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).

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