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Customers Bancorp (NYSE:CUBI) Releases FY 2022 Earnings Guidance

Customers Bancorp (NYSE:CUBI – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.75-$5.00 for the period, compared to the consensus estimate of $7.56. The company issued revenue guidance of -.

NYSE:CUBI opened at $34.50 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81. Customers Bancorp has a fifty-two week low of $32.19 and a fifty-two week high of $76.13. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 3.44 and a beta of 1.61. The stock has a fifty day moving average price of $38.30 and a 200-day moving average price of $51.23.

Customers Bancorp (NYSE:CUBI – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The bank reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.53. Customers Bancorp had a return on equity of 30.79% and a net margin of 40.14%. The company had revenue of $185.90 million during the quarter, compared to analysts’ expectations of $170.48 million. Research analysts predict that Customers Bancorp will post 7.3 EPS for the current fiscal year.

A number of brokerages have issued reports on CUBI. Stephens began coverage on Customers Bancorp in a report on Monday, March 28th. They issued an equal weight rating and a $62.50 target price for the company. assumed coverage on Customers Bancorp in a research note on Thursday, March 31st. They issued a hold rating for the company. Maxim Group reissued a buy rating and issued a $85.00 price target on shares of Customers Bancorp in a research note on Friday, April 29th. B. Riley decreased their price target on Customers Bancorp from $100.00 to $90.00 in a research note on Tuesday, April 12th. Finally, Keefe, Bruyette & Woods raised Customers Bancorp from a market perform rating to an outperform rating and increased their price target for the company from $72.00 to $80.00 in a research note on Monday, March 28th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from, Customers Bancorp presently has a consensus rating of Moderate Buy and an average target price of $72.36.

In other news, Director Lyle Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $43.06, for a total value of $43,060.00. Following the transaction, the director now owns 11,051 shares in the company, valued at $475,856.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samvir S. Sidhu bought 2,965 shares of the company’s stock in a transaction dated Friday, May 6th. The stock was bought at an average price of $42.10 per share, for a total transaction of $124,826.50. Following the acquisition, the chief executive officer now directly owns 80,637 shares of the company’s stock, valued at $3,394,817.70. The disclosure for this purchase can be found here. Insiders bought 4,465 shares of company stock worth $186,912 in the last 90 days. Corporate insiders own 6.75% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors increased its position in Customers Bancorp by 38.9% in the first quarter. Captrust Financial Advisors now owns 3,761 shares of the bank’s stock worth $196,000 after buying an additional 1,054 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Customers Bancorp in the first quarter worth $255,000. Point72 Hong Kong Ltd increased its position in Customers Bancorp by 1,062.7% in the first quarter. Point72 Hong Kong Ltd now owns 5,988 shares of the bank’s stock worth $312,000 after buying an additional 5,473 shares during the last quarter. Walleye Capital LLC purchased a new stake in Customers Bancorp in the first quarter worth $361,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Customers Bancorp in the first quarter worth $497,000. 83.48% of the stock is owned by institutional investors.

Customers Bancorp Company Profile (Get Rating)

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company offers deposits products, including checking, savings, MMDA, and other deposits accounts. It offers loan products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans.

See Also

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

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