Customers Bancorp (CUBI) Expected to Announce Earnings on Thursday

Customers Bancorp (NYSE:CUBI) is expected to be announcing its earnings results after the market closes on Thursday, January 23rd. Analysts expect the company to announce earnings of $1.21 per share and revenue of $160,480.00 billion for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The business had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. During the same period in the prior year, the firm earned $2.59 earnings per share. The business’s quarterly revenue was down 23.2% compared to the same quarter last year. On average, analysts expect Customers Bancorp to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Customers Bancorp Stock Up 1.5 %

Shares of NYSE:CUBI opened at $50.73 on Wednesday. Customers Bancorp has a 12 month low of $42.31 and a 12 month high of $68.49. The company’s 50-day moving average price is $51.58 and its two-hundred day moving average price is $50.95. The firm has a market cap of $1.59 billion, a P/E ratio of 8.24 and a beta of 1.68. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CUBI shares. Stephens increased their price objective on shares of Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Keefe, Bruyette & Woods raised their price objective on shares of Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Raymond James cut their target price on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.22.

Insider Activity at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 86,578 shares of Customers Bancorp stock in a transaction on Monday, November 11th. The stock was sold at an average price of $56.54, for a total value of $4,895,120.12. Following the transaction, the chief executive officer now owns 1,090,598 shares in the company, valued at approximately $61,662,410.92. This trade represents a 7.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Glenn Hedde sold 5,002 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the sale, the insider now owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. This represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,440 shares of company stock worth $5,425,815. Company insiders own 6.92% of the company’s stock.

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.