Customers Bancorp (CUBI) to Release Quarterly Earnings on Thursday

Customers Bancorp (NYSE:CUBIGet Free Report) will likely be issuing its quarterly earnings data after the market closes on Thursday, January 23rd. Analysts expect the company to announce earnings of $1.21 per share and revenue of $160,480.00 billion for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Customers Bancorp (NYSE:CUBIGet Free Report) last issued its earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The firm had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. During the same quarter in the previous year, the firm posted $2.59 EPS. The business’s revenue for the quarter was down 23.2% on a year-over-year basis. On average, analysts expect Customers Bancorp to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Customers Bancorp Stock Up 1.7 %

Customers Bancorp stock opened at $49.84 on Tuesday. The stock has a market cap of $1.56 billion, a PE ratio of 8.09 and a beta of 1.68. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The stock’s fifty day moving average is $51.70 and its two-hundred day moving average is $50.93. Customers Bancorp has a 1-year low of $42.31 and a 1-year high of $68.49.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CUBI shares. B. Riley raised their target price on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Stephens boosted their price objective on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Raymond James lowered their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 2nd. Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $79.00 to $53.00 in a research note on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Customers Bancorp from $52.00 to $62.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $62.22.

View Our Latest Stock Analysis on CUBI

Insider Transactions at Customers Bancorp

In related news, insider Glenn Hedde sold 5,002 shares of Customers Bancorp stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total value of $268,507.36. Following the transaction, the insider now directly owns 66,256 shares in the company, valued at $3,556,622.08. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jay S. Sidhu sold 860 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $54.73, for a total transaction of $47,067.80. Following the transaction, the chief executive officer now owns 1,189,738 shares of the company’s stock, valued at approximately $65,114,360.74. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,440 shares of company stock worth $5,425,815. Company insiders own 6.92% of the company’s stock.

Customers Bancorp Company Profile

(Get Free Report)

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 provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.

See Also

Earnings History for Customers Bancorp (NYSE:CUBI)

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