Customers Bancorp (NYSE:CUBI) Updates FY 2020 After-Hours Earnings Guidance

Customers Bancorp (NYSE:CUBI) updated its FY 2020
After-Hours earnings guidance on Wednesday. The company provided earnings per share guidance of 3.00-3.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.94. Customers Bancorp also updated its FY 2025
After-Hours guidance to 6.00-6.00 EPS.

Several brokerages recently commented on CUBI. ValuEngine raised Customers Bancorp from a strong sell rating to a sell rating in a report on Saturday, January 4th. Maxim Group reaffirmed a buy rating and issued a $38.00 price objective on shares of Customers Bancorp in a report on Friday, October 25th. TheStreet raised Customers Bancorp from a c rating to a b- rating in a report on Friday, November 1st. Finally, Zacks Investment Research lowered Customers Bancorp from a hold rating to a sell rating in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Customers Bancorp presently has a consensus rating of Hold and a consensus price target of $32.00.

Shares of CUBI traded up $0.51 during trading hours on Wednesday, hitting $22.70. The stock had a trading volume of 223,217 shares, compared to its average volume of 147,744. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.09 and a quick ratio of 1.04. Customers Bancorp has a 12 month low of $17.35 and a 12 month high of $25.72. The firm has a market capitalization of $706.59 million, a PE ratio of 13.05 and a beta of 1.09. The stock has a fifty day moving average price of $23.31 and a 200 day moving average price of $21.57.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Customers Bancorp had a return on equity of 9.72% and a net margin of 13.45%. The company had revenue of $99.10 million during the quarter, compared to analyst estimates of $93.36 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. As a group, analysts anticipate that Customers Bancorp will post 2.2 EPS for the current fiscal year.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.

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