Equity research analysts expect Customers Bancorp, Inc. (NYSE:CUBI – Get a rating) to report earnings per share (EPS) of $1.76 for the current fiscal quarter, according to Zacks. Four analysts provided earnings estimates for Customers Bancorp, with the highest EPS estimate at $1.88 and the lowest estimate at $1.59. Customers Bancorp also posted earnings per share of $1.76 in the same quarter last year. The company is expected to release its next results on Monday, January 1.
According to Zacks, analysts expect Customers Bancorp to report annual earnings of $7.12 per share for the current fiscal year, with EPS estimates ranging from $4.44 to $7.98. For the next fiscal year, analysts expect the company to report earnings of $6.99 per share, with EPS estimates ranging from $6.31 to $7.75. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts who follow Customers Bancorp.
A number of research analysts have weighed in on the company recently. Zacks Investment Research moved Customers Bancorp from a “hold” rating to a “buy” rating and set a price target of $48.00 on the stock in a research note on Friday, May 6. Stephens launched a hedge on Customers Bancorp stock in a Monday, March 28 report. They set an “equal weight” rating and a price target of $62.50 on the stock. B. Riley cut his price target on Customers Bancorp stock from $100.00 to $90.00 in a Tuesday, April 12 report. Maxim Group reissued a “buy” rating and set a target price of $85.00 on Customers Bancorp stock in a research report on Friday, April 29. To finish, StockNews.com supposed coverage of Customers Bancorp stock in a Thursday, March 31 research report. They issued a “hold” rating on the stock. Four equity research analysts gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $69.31.
Separately, Chief Financial Officer Carla A. Leibold acquired 1,000 shares in a trade on Friday, May 6. The shares were acquired at an average price of $42.10 per share, with a total value of $42,100.00. Following the completion of the transaction, the CFO now owns 68,348 shares of the company, valued at approximately $2,877,450.80. The purchase was disclosed in a document filed with the SEC, accessible via this hyperlink. Additionally, CEO Samvir S. Sidhu purchased 2,965 shares of Customers Bancorp in a trade dated Friday, May 6. The shares were purchased at an average cost of $42.10 per share, with a total value of $124,826.50. Following completion of the transaction, the CEO now directly owns 80,637 shares of the company, valued at $3,394,817.70. Disclosure of this purchase can be found here. Insiders bought 4,465 shares of the company worth $186,912 during the last quarter. 10.23% of the shares are currently held by company insiders.
Institutional investors and hedge funds have recently changed their positions in the stock. BlackRock Inc. increased its position in Customers Bancorp by 4.6% during the first quarter. BlackRock Inc. now owns 4,837,269 shares of the bank worth $252,216,000 after purchasing an additional 214,065 shares during the period. State Street Corp increased its position in Customers Bancorp stock by 56.3% in the first quarter. State Street Corp now owns 2,282,972 shares of the bank worth $119,034,000 after acquiring an additional 822,072 shares in the last quarter. Vanguard Group Inc. increased its holdings of Customers Bancorp shares by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,948,419 shares of the bank worth $101,591,000 after acquiring 37,717 additional shares during the period. Victory Capital Management Inc. increased its stake in Customers Bancorp by 75.0% in the 1st quarter. Victory Capital Management Inc. now owns 998,379 shares of the bank worth $50,272,000 after purchasing an additional 427,959 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Customers Bancorp by 5.9% in the 4th quarter. JPMorgan Chase & Co. now owns 557,238 shares of the bank valued at $36,427,000 after buying an additional 30,974 shares last quarter. 83.48% of the shares are held by institutional investors.
Shares of CUBI traded at $0.82 during Friday trading hours, hitting $41.17. 240,003 shares were traded, against an average volume of 464,618. Clients Bancorp has a fifty-two week low of $34.55 and a fifty-two week 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 company has a 50-day moving average of $45.16 and a 200-day moving average of $55.57. The company has a market capitalization of $1.36 billion, a P/E ratio of 4.11 and a beta of 1.58.
Clients Company Profile Bancorp (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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