Customers Bancorp Inc (NYSE:CUBI) – Analysts at B. Riley reduced their Q4 2018 EPS estimates for Customers Bancorp in a note issued to investors on Tuesday, October 16th, according to Zacks Investment Research. B. Riley analyst S. Moss now anticipates that the bank will post earnings of $0.50 per share for the quarter, down from their previous estimate of $0.71. B. Riley currently has a “Neutral” rating and a $23.00 target price on the stock. B. Riley also issued estimates for Customers Bancorp’s Q1 2019 earnings at $0.49 EPS, Q2 2019 earnings at $0.60 EPS, FY2019 earnings at $2.45 EPS and FY2020 earnings at $2.70 EPS.
Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, October 25th. The bank reported $0.62 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.03). The business had revenue of $66.09 million for the quarter, compared to the consensus estimate of $64.64 million. Customers Bancorp had a net margin of 16.01% and a return on equity of 13.10%.
Other research analysts have also issued research reports about the company. Maxim Group reiterated a “buy” rating and issued a $46.00 price target on shares of Customers Bancorp in a report on Tuesday, August 14th. Boenning Scattergood upgraded Customers Bancorp from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Friday, October 26th. Sandler O’Neill upgraded Customers Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Monday, October 15th. Zacks Investment Research upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, ValuEngine lowered Customers Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Customers Bancorp presently has an average rating of “Hold” and a consensus target price of $29.33.
NYSE:CUBI traded down $0.40 on Thursday, hitting $20.27. The stock had a trading volume of 172,909 shares, compared to its average volume of 425,393. The firm has a market cap of $682.80 million, a P/E ratio of 9.21, a PEG ratio of 0.85 and a beta of 0.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.91 and a current ratio of 1.08. Customers Bancorp has a 52 week low of $18.57 and a 52 week high of $32.34.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Customers Bancorp by 3.3% in the third quarter. BlackRock Inc. now owns 4,374,667 shares of the bank’s stock worth $102,936,000 after purchasing an additional 139,000 shares during the last quarter. Tieton Capital Management LLC raised its stake in shares of Customers Bancorp by 29.5% in the third quarter. Tieton Capital Management LLC now owns 214,139 shares of the bank’s stock worth $5,039,000 after purchasing an additional 48,776 shares during the last quarter. Seizert Capital Partners LLC purchased a new stake in shares of Customers Bancorp in the third quarter worth approximately $1,746,000. Bank of New York Mellon Corp raised its stake in shares of Customers Bancorp by 3.3% in the third quarter. Bank of New York Mellon Corp now owns 380,615 shares of the bank’s stock worth $8,957,000 after purchasing an additional 12,315 shares during the last quarter. Finally, LaSalle Street Capital Management LLC purchased a new stake in shares of Customers Bancorp in the third quarter worth approximately $443,000. 81.74% of the stock is 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 accepts various deposit products, such as checking, savings, money market deposit, time deposit, individual retirement, and non-retail time deposit accounts, as well as certificates of deposit.
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