Analysts expect Customers Bancorp, Inc. (NYSE: CUBI – Get a rating) will report sales of $170.48 million for the current fiscal quarter, according to Zacks. Four analysts provided earnings estimates for Customers Bancorp. The highest sales estimate is $200.60 million and the lowest is $157.05 million. Customers Bancorp recorded sales of $151.20 million in the same quarter last year, suggesting a positive year-over-year growth rate of 12.8%. The company is expected to release its next earnings report after the market closes on Monday, January 1.
According to Zacks, analysts expect Customers Bancorp to report annual sales of $704.06 million for the current year, with estimates ranging from $687.70 million to $736.30 million. For the next fiscal year, analysts expect the company to post sales of $699.68 million, with estimates ranging from $678.00 million to $733.52 million. Zacks sales calculations are an average average based on a survey of analysts who cover Customers Bancorp.
Bancorp Customers (NYSE: CUBI – Get a rating) last released its quarterly results on Monday, January 24. The bank reported EPS of $2.92 for the quarter, missing the consensus estimate of $2.94 per ($0.02). Clients Bancorp had a return on equity of 32.38% and a net margin of 36.64%. The company posted revenue of $210.69 million for the quarter, versus a consensus estimate of $225.40 million. During the same period last year, the company made earnings per share of $1.65.
A number of equity research analysts have recently released reports on the stock. StockNews.com assumed coverage of Customers Bancorp stock in a Thursday, March 31 report. They issued a “holding” rating on the stock. Maxim Group raised its price target on Customers Bancorp stock from $75.00 to $85.00 in a Wednesday, Jan. 26, report. Keefe, Bruyette & Woods upgraded 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 report from Monday, March 28. Stephens began covering Customers Bancorp shares in a research note on Monday, March 28. They issued an “equal weight” rating and a price target of $62.50 on the stock. Finally, Wedbush raised its price target on Customers Bancorp stock from $75.00 to $80.00 in a Wednesday, Jan. 26 research note. Five investment analysts gave the stock a hold rating and five gave the stock a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $69.31.
Several large investors have recently changed their positions in the company. Everence Capital Management Inc. increased its position in Customers Bancorp shares by 21.2% during the 1st quarter. Everence Capital Management Inc. now owns 12,040 shares of the bank worth $628,000 after buying 2,110 additional shares in the last quarter. First Hawaiian Bank increased its position in Customers Bancorp shares by 8.8% in the first quarter. First Hawaiian Bank now owns 13,256 shares of the bank worth $691,000 after acquiring 1,071 additional shares last quarter. Barclays PLC increased its stake in Customers Bancorp by 18.6% in the fourth quarter. Barclays PLC now owns 85,348 shares in the bank valued at $5,579,000 after acquiring a further 13,368 shares in the last quarter. Comerica Bank increased its position in Customers Bancorp by 4.1% during the fourth quarter. Comerica Bank now owns 28,075 shares of the bank valued at $1,665,000 after buying 1,118 additional shares last quarter. Finally, Toroso Investments LLC acquired a new stake in Customers Bancorp during the fourth quarter at a value of $14,603,000. Hedge funds and other institutional investors own 83.73% of the company’s shares.
Shares of NYSE: CUBI opened at $44.08 on Monday. The company has a debt ratio of 0.72, a current ratio of 0.87 and a quick ratio of 0.87. The company’s 50-day moving average price is $55.36 and its two-hundred-day moving average price is $57.04. The stock has a market capitalization of $1.45 billion, a PE ratio of 4.98 and a beta of 1.54. Bancorp Customers has a one-year minimum of $29.17 and a one-year maximum of $76.13.
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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