DA Davidson Analysts Decrease Earnings Estimates for Customers Bancorp, Inc. (NYSE:CUBI)

Customers Bancorp, Inc. (NYSE:CUBI) – Investment analysts at DA Davidson lowered their Q1 2024 earnings estimates for shares of Customers Bancorp in a research report issued on Thursday, April 4th. DA Davidson analyst P. Winter now anticipates that the bank will post earnings per share of $1.65 for the quarter, down from their previous estimate of $1.70. The consensus estimate for Customers Bancorp’s current full-year earnings is $6.93 per share. DA Davidson also issued estimates for Customers Bancorp’s FY2025 earnings at $7.46 EPS.

CUBI has been the topic of several other reports. Wedbush lowered their target price on shares of Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. B. Riley lifted their price objective on shares of Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, Raymond James lifted their price objective on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.71.

Customers Bancorp Trading Up 0.9 %

Shares of CUBI stock opened at $50.43 on Monday. The firm has a 50 day moving average price of $52.51 and a two-hundred day moving average price of $47.51. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $1.59 billion, a PE ratio of 6.90 and a beta of 1.67. Customers Bancorp has a 12-month low of $15.80 and a 12-month high of $60.09.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.14. The firm had revenue of $191.18 million during the quarter, compared to the consensus estimate of $187.87 million. Customers Bancorp had a net margin of 17.23% and a return on equity of 18.75%.

Insider Activity at Customers Bancorp

In other news, insider Glenn Hedde sold 666 shares of the company’s stock in a transaction dated 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 in the company, valued at $3,762,997.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Glenn Hedde sold 666 shares of the company’s stock in a transaction dated 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 in the company, valued at $3,762,997.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Carla A. Leibold sold 35,832 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the transaction, the chief financial officer now owns 41,224 shares in the company, valued at approximately $2,191,055.60. The disclosure for this sale can be found here. 9.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in CUBI. BluePath Capital Management LLC bought a new stake in Customers Bancorp in the 3rd quarter worth about $31,000. Gyon Technologies Capital Management LP purchased a new position in Customers Bancorp in the fourth quarter valued at about $38,000. GAMMA Investing LLC purchased a new position in Customers Bancorp in the fourth quarter valued at about $78,000. Coppell Advisory Solutions LLC purchased a new position in Customers Bancorp in the second quarter valued at about $56,000. Finally, Tower Research Capital LLC TRC boosted its stake in Customers Bancorp by 129.2% in the first quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank’s stock valued at $41,000 after acquiring an additional 1,253 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

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.