Customers Bancorp Inc (NYSE:CUBI) – Equities researchers at B. Riley lifted their Q3 2019 EPS estimates for Customers Bancorp in a research report issued on Thursday, July 11th. B. Riley analyst S. Moss now expects that the bank will post earnings of $0.72 per share for the quarter, up from their prior forecast of $0.71. B. Riley currently has a “Buy” rating and a $30.00 price target on the stock. B. Riley also issued estimates for Customers Bancorp’s Q4 2019 earnings at $0.67 EPS, FY2019 earnings at $2.00 EPS, Q1 2020 earnings at $0.63 EPS, Q2 2020 earnings at $0.71 EPS and FY2020 earnings at $2.90 EPS.
Several other analysts also recently commented on CUBI. Zacks Investment Research downgraded Farmland Partners from a “hold” rating to a “sell” rating in a research note on Friday. Maxim Group reaffirmed a “buy” rating and set a $25.00 price objective on shares of Coherus Biosciences in a research note on Wednesday. ValuEngine downgraded Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, TheStreet downgraded ZovioInc . from a “c-” rating to a “d” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $28.15.
Shares of Customers Bancorp stock opened at $20.24 on Friday. The firm has a market cap of $630.48 million, a P/E ratio of 8.33, a PEG ratio of 0.95 and a beta of 1.02. Customers Bancorp has a 12 month low of $16.72 and a 12 month high of $29.25. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.10 and a quick ratio of 1.10. The business’s fifty day simple moving average is $20.35.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The business had revenue of $79.02 million for the quarter, compared to the consensus estimate of $82.68 million. Customers Bancorp had a return on equity of 10.90% and a net margin of 13.13%. During the same quarter last year, the business posted $0.64 EPS.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in shares of Customers Bancorp in the 4th quarter valued at about $75,000. BNP Paribas Arbitrage SA raised its stake in shares of Customers Bancorp by 75,462.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,045 shares of the bank’s stock valued at $111,000 after purchasing an additional 6,037 shares during the period. Financial Gravity Wealth Inc. acquired a new stake in shares of Customers Bancorp in the 1st quarter valued at about $125,000. Neuburgh Advisers LLC raised its stake in shares of Customers Bancorp by 16.4% in the 4th quarter. Neuburgh Advisers LLC now owns 7,656 shares of the bank’s stock valued at $139,000 after purchasing an additional 1,078 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Customers Bancorp in the 4th quarter valued at about $152,000. 81.07% of the stock is currently owned by hedge funds and other institutional investors.
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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