Wall Street brokers predict that Customers Bancorp, Inc. (NYSE: CUBI – Get a rating) will report earnings of $1.66 per share for the current fiscal quarter, according to Zacks. Four analysts provided earnings estimates for Customers Bancorp. The highest EPS estimate is $2.34 and the lowest is $1.38. Customers Bancorp reported earnings of $2.14 per share in the same quarter last year, indicating a negative 22.4% year-over-year growth rate. The company is expected to release its next quarterly earnings report after the market closes on Monday, January 1.
According to Zacks, analysts expect Customers Bancorp to report annual earnings of $6.56 per share for the current fiscal year, with EPS estimates ranging from $4.22 to $7.55. For the next fiscal year, analysts expect the company to post earnings of $6.60 per share, with EPS estimates ranging from $6.20 to $7.25. Zacks Investment Research EPS averages are an average average based on a survey of sell-side research firms that track Customers Bancorp.
Bancorp Customers (NYSE: CUBI – Get a rating) last released its quarterly results on Monday, January 24. The bank reported earnings per share (EPS) of $2.92 for the quarter, missing analyst consensus estimates of $2.94 per ($0.02). The company posted revenue of $210.69 million for the quarter, versus analyst estimates of $225.40 million. Clients Bancorp had a return on equity of 32.38% and a net margin of 36.64%. In the same quarter last year, the company made earnings per share of $1.65.
A number of analysts have weighed in on the company recently. Stephens began covering Customers Bancorp in a research note on Monday, March 28. They issued an “equal weight” rating and a price target of $62.50 on the stock. StockNews.com began covering Customers Bancorp shares in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. B. Riley cut his price target on Customers Bancorp stock from $100.00 to $90.00 in a report on Tuesday. Wedbush raised its price target on Customers Bancorp stock from $75.00 to $80.00 in a Wednesday, January 26, report. Finally, Keefe, Bruyette & Woods downgraded Customers Bancorp shares from a “market performance” rating to an “outperform” rating and raised its target price for the company from $72.00 to $80.00. $ in a Monday, March 28 report. Five analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat, Customers Bancorp currently has an average rating of “Buy” and an average price target of $69.31.
Hedge funds have recently increased or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in Customers Bancorp by 501.5% during the fourth quarter. Victory Capital Management Inc. now owns 570,420 shares of the bank valued at $37,288,000 after purchasing an additional 475,590 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Customers Bancorp shares by 258.6% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 520,600 shares of the bank valued at $34,032,000 after acquiring 375,419 additional shares in the last quarter. Emerald Advisers LLC increased its position in Customers Bancorp by 4,060.0% during the 4th quarter. Emerald Advisers LLC now owns 333,636 shares of the bank worth $21,810,000 after purchasing an additional 325,616 shares last quarter. Toroso Investments LLC acquired a new position in Customers Bancorp in Q4, valued at approximately $14,603,000. Finally, Nordea Investment Management AB increased its stake in Customers Bancorp by 97.0% in the 3rd quarter. Nordea Investment Management AB now owns 418,154 shares in the bank valued at $18,106,000 after buying an additional 205,867 shares last quarter. Institutional investors and hedge funds own 83.73% of the company’s shares.
NYSE CUBI opened at $44.08 on Friday. The stock has a market capitalization of $1.45 billion, a price-earnings ratio of 4.98 and a beta of 1.54. The company’s 50-day moving average is $55.36 and its two-hundred-day moving average is $56.95. Bancorp Clients has a 12-month low of $29.17 and a 12-month high of $76.13. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt ratio of 0.72.
About Bancorp Customers (Get a rating)
Customers Bancorp, Inc operates as a banking holding company for Customers Bank which provides financial products and services to individuals and small and medium businesses. The Company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers lending products, including commercial warehouse mortgages, multifamily and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgages and installment loans.
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