Analysts expect Customers Bancorp, Inc. (NYSE: CUBI – Get a rating) will report earnings of $1.76 per share for the current quarter, according to Zacks. Four analysts have released earnings estimates for Customers Bancorp, with estimates ranging from $1.59 to $1.88. Customers Bancorp also reported earnings of $1.76 per share in the same quarter last year. The company is expected to announce its next results on Monday, January 1.
According to Zacks, analysts expect Customers Bancorp to report annual earnings of $7.08 per share for the current fiscal year, with EPS estimates ranging from $4.22 to $7.98. For the next fiscal year, analysts expect the company to post earnings of $6.89 per share, with EPS estimates ranging from $6.20 to $7.75. Zacks Investment Research EPS averages are an average based on a survey of sell-side research analysts who provide coverage for Customers Bancorp.
Several analysts have commented on the title. B. Riley cut his price target on Customers Bancorp stock from $100.00 to $90.00 in a Tuesday, April 12 research note. Stephens assumed cover for Customers Bancorp in a Monday, March 28 report. They issued an “equal weight” rating and a target price of $62.50 on the stock. Keefe, Bruyette & Woods upgraded Customers Bancorp from a “market performance” rating to an “outperform” rating and raised its target price for the stock from $72.00 to $80.00 in a report Monday, March 28. Maxim Group reaffirmed a “buy” rating and issued a price target of $85.00 on Customers Bancorp stock in a Friday, April 29 report. To finish, Zacks Investment Research upgraded Customers Bancorp from a “hold” rating to a “buy” rating and set a target price of $48.00 on the stock in a report on Friday. Four research analysts gave the stock a hold rating and six gave the company a buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $69.31.
Separately, CEO Samvir S. Sidhu bought 2,965 shares of the company in a deal that took place on Friday, May 6. The shares were purchased at an average cost of $42.10 per share, with a total value of $124,826.50. As a result of the transaction, the CEO now directly owns 80,637 shares of the company, valued at $3,394,817.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, director Lyle Cunningham sold 1,000 shares of the company in a trade on Tuesday, May 3. The shares were sold at an average price of $43.06, for a total value of $43,060.00. Following completion of the transaction, the administrator now directly owns 11,051 shares of the company, valued at $475,856.06. Disclosure of this sale can be found here. Company insiders own 10.23% of the company’s shares.
A number of institutional investors have recently changed their stock portfolios. Maryland State Retirement & Pension System increased its holdings of Customers Bancorp stock by 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 11,888 shares of the bank worth $777,000 after buying 161 additional shares in the last quarter. Captrust Financial Advisors increased its holdings of Customers Bancorp shares by 9.0% during the third quarter. Captrust Financial Advisors now owns 2,801 shares of the bank worth $120,000 after buying 231 additional shares in the last quarter. Lazard Asset Management LLC increased its equity stake in Customers Bancorp by 70.5% during the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank worth $44,000 after buying 284 additional shares in the last quarter. Mutual of America Capital Management LLC increased its equity stake in Customers Bancorp by 7.1% during the first quarter. Mutual of America Capital Management LLC now owns 4,364 shares of the bank worth $228,000 after buying 290 more shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Customers Bancorp shares by 1.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 18,133 shares of the bank worth $1,185,000 after buying 292 additional shares in the last quarter. 83.48% of the shares are currently held by hedge funds and other institutional investors.
NYSE CUBI opened at $43.12 on Friday. Bancorp Clients has a 1-year low of $33.25 and a 1-year high of $76.13. The company has a debt ratio of 0.15, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $1.42 billion, a price-earnings ratio of 4.30 and a beta of 1.58. The company’s fifty-day moving average price is $49.95 and its 200-day moving average price is $57.01.
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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