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. Individual interested in listening to the company’s earnings conference call can do so using this link.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, January 25th. The bank reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. The business had revenue of $191.18 million during 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 %

Customers Bancorp stock opened at $50.40 on Wednesday. The stock’s 50 day moving average price is $51.70 and its 200 day moving average price is $48.76. The company has a market cap of $1.59 billion, a PE ratio of 6.89 and a beta of 1.67. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.93 and a quick ratio of 0.91. Customers Bancorp has a 1-year low of $15.80 and a 1-year high of $60.09.

Insider Activity at Customers Bancorp

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CUBI. B. Riley upped their price target on shares of Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Raymond James increased their target price on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, January 29th. Jefferies Financial Group boosted their price target on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Wedbush dropped their price objective on Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.86.

About Customers Bancorp

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.