B. Riley Equities Analysts Lower Earnings Estimates for Customers Bancorp Inc (CUBI)

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Customers Bancorp Inc (NYSE:CUBI) – Analysts at B. Riley reduced their Q3 2019 earnings per share estimates for shares of Customers Bancorp in a report released on Tuesday, January 8th. B. Riley analyst S. Moss now anticipates that the bank will earn $0.54 per share for the quarter, down from their previous estimate of $0.55. B. Riley currently has a “Neutral” rating and a $23.00 price target on the stock.

A number of other analysts also recently issued reports on CUBI. ValuEngine downgraded shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research raised shares of Customers Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 18th. Maxim Group reduced their price objective on shares of Customers Bancorp to $38.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. They noted that the move was a valuation call. Finally, Boenning Scattergood restated a “hold” rating on shares of Customers Bancorp in a research report on Wednesday, October 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Customers Bancorp currently has an average rating of “Hold” and an average price target of $29.29.

Shares of NYSE CUBI opened at $19.14 on Thursday. Customers Bancorp has a 1 year low of $16.72 and a 1 year high of $32.34. The firm has a market cap of $618.85 million, a P/E ratio of 8.70, a PEG ratio of 0.91 and a beta of 0.76. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.28.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, October 25th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.03). Customers Bancorp had a return on equity of 13.10% and a net margin of 16.01%. The firm had revenue of $66.09 million for the quarter, compared to analysts’ expectations of $64.64 million.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its position 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 valued at $102,936,000 after buying an additional 139,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Customers Bancorp by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,660,288 shares of the bank’s stock valued at $62,596,000 after buying an additional 30,627 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Customers Bancorp by 1.3% in the third quarter. Vanguard Group Inc. now owns 1,750,099 shares of the bank’s stock valued at $41,180,000 after buying an additional 22,159 shares during the last quarter. Vanguard Group Inc raised its position in shares of Customers Bancorp by 1.3% in the third quarter. Vanguard Group Inc now owns 1,750,099 shares of the bank’s stock valued at $41,180,000 after buying an additional 22,159 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Customers Bancorp by 1.6% in the third quarter. Teachers Advisors LLC now owns 708,037 shares of the bank’s stock valued at $16,660,000 after buying an additional 11,474 shares during the last quarter. Institutional investors own 79.72% of the company’s stock.

In other Customers Bancorp news, COO Richard A. Ehst sold 13,370 shares of the company’s stock in a transaction on Monday, December 10th. The shares were sold at an average price of $18.01, for a total transaction of $240,793.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.71% 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 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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Earnings History and Estimates for Customers Bancorp (NYSE:CUBI)

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