Customers Bancorp (CUBI) Set to Announce Earnings on Thursday

Customers Bancorp (NYSE:CUBI) is set to issue its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.62 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, January 25th. The bank reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Customers Bancorp had a net margin of 17.23% and a return on equity of 18.75%. The firm had revenue of $191.18 million for the quarter, compared to the consensus estimate of $187.87 million. On average, analysts expect Customers Bancorp to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Customers Bancorp Stock Up 2.9 %

Shares of NYSE:CUBI opened at $50.40 on Wednesday. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 6.89 and a beta of 1.67. Customers Bancorp has a 12 month low of $15.80 and a 12 month high of $60.09. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $51.70 and a 200 day moving average price of $48.76.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CUBI shares. Raymond James lifted their target price on Customers Bancorp from $65.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, January 29th. Wedbush cut their price objective on shares of Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. B. Riley raised their target price on shares of Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Jefferies Financial Group lifted their price target on shares of Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.86.

Insider Activity at Customers Bancorp

In other news, insider Glenn Hedde sold 666 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total transaction of $36,097.20. Following the transaction, the insider now directly owns 69,428 shares of the company’s stock, valued at $3,762,997.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Glenn Hedde sold 666 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total transaction of $36,097.20. Following the transaction, the insider now owns 69,428 shares of the company’s stock, valued at approximately $3,762,997.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Carla A. Leibold sold 35,832 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total value of $1,904,470.80. Following the transaction, the chief financial officer now owns 41,224 shares in the company, valued at approximately $2,191,055.60. The disclosure for this sale can be found here. 9.40% of the stock is currently owned by company insiders.

Customers Bancorp Company Profile

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.