Customers Bancorp Inc Expected to Post FY2020 Earnings of $2.70 Per Share (NYSE:CUBI)

Customers Bancorp Inc (NYSE:CUBI) – Investment analysts at Piper Sandler decreased their FY2020 earnings per share (EPS) estimates for shares of Customers Bancorp in a research report issued on Monday, June 29th. Piper Sandler analyst F. Schiraldi now anticipates that the bank will post earnings of $2.70 per share for the year, down from their prior forecast of $2.79.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Monday, May 4th. The bank reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.17). The company had revenue of $103.25 million during the quarter, compared to analyst estimates of $102.98 million. Customers Bancorp had a net margin of 13.05% and a return on equity of 10.38%.

Several other research analysts have also issued reports on CUBI. Zacks Investment Research raised shares of Customers Bancorp from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, June 2nd. TheStreet lowered shares of Customers Bancorp from a “b-” rating to a “c” rating in a research note on Monday, March 9th. B. Riley lowered shares of Customers Bancorp from a “buy” rating to a “neutral” rating and reduced their target price for the company from $30.00 to $14.00 in a research note on Wednesday, March 25th. Finally, ValuEngine lowered shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.33.

Shares of NYSE CUBI opened at $11.59 on Tuesday. The firm has a market capitalization of $345.14 million, a PE ratio of 6.13 and a beta of 1.45. The company has a current ratio of 1.11, a quick ratio of 1.06 and a debt-to-equity ratio of 2.16. Customers Bancorp has a 1 year low of $8.36 and a 1 year high of $25.72. The firm’s 50-day moving average is $11.40 and its 200-day moving average is $16.31.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its position in Customers Bancorp by 5.7% during the first quarter. State Street Corp now owns 1,051,663 shares of the bank’s stock worth $11,495,000 after purchasing an additional 56,523 shares during the period. Royal Bank of Canada raised its stake in Customers Bancorp by 469.8% during the first quarter. Royal Bank of Canada now owns 11,072 shares of the bank’s stock worth $121,000 after acquiring an additional 9,129 shares in the last quarter. AQR Capital Management LLC raised its stake in Customers Bancorp by 62.8% during the first quarter. AQR Capital Management LLC now owns 108,137 shares of the bank’s stock worth $1,182,000 after acquiring an additional 41,705 shares in the last quarter. Squarepoint Ops LLC raised its stake in Customers Bancorp by 35.7% during the first quarter. Squarepoint Ops LLC now owns 48,394 shares of the bank’s stock worth $529,000 after acquiring an additional 12,730 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Customers Bancorp by 32.1% during the first quarter. Invesco Ltd. now owns 333,956 shares of the bank’s stock worth $3,649,000 after acquiring an additional 81,065 shares in the last quarter. 80.42% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Company Profile

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

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