Zacks: Analysts Expect Customers Bancorp Inc (NYSE:CUBI) to Announce $0.43 EPS

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Equities research analysts expect that Customers Bancorp Inc (NYSE:CUBI) will report earnings per share of $0.43 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Customers Bancorp’s earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.44. Customers Bancorp reported earnings of $0.64 per share in the same quarter last year, which suggests a negative year over year growth rate of 32.8%. The business is scheduled to announce its next quarterly earnings report on Wednesday, July 24th.

According to Zacks, analysts expect that Customers Bancorp will report full year earnings of $2.20 per share for the current financial year, with EPS estimates ranging from $2.14 to $2.25. For the next financial year, analysts expect that the company will post earnings of $2.68 per share, with EPS estimates ranging from $2.50 to $2.85. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Customers Bancorp.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. Customers Bancorp had a net margin of 13.13% and a return on equity of 10.90%. The firm had revenue of $79.02 million for the quarter, compared to analysts’ expectations of $82.68 million. During the same quarter in the previous year, the company earned $0.64 earnings per share.

A number of brokerages have recently weighed in on CUBI. ValuEngine raised shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 16th. TheStreet raised shares of Customers Bancorp from a “c+” rating to a “b-” rating in a research note on Monday, May 6th. B. Riley set a $30.00 target price on shares of Customers Bancorp and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, Zacks Investment Research raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $29.44.

Institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in Customers Bancorp during the fourth quarter worth about $75,000. BNP Paribas Arbitrage SA boosted its stake in Customers Bancorp by 75,462.5% during the first quarter. BNP Paribas Arbitrage SA now owns 6,045 shares of the bank’s stock worth $111,000 after acquiring an additional 6,037 shares in the last quarter. Financial Gravity Wealth Inc. bought a new stake in Customers Bancorp during the first quarter worth about $125,000. Neuburgh Advisers LLC boosted its stake in Customers Bancorp by 16.4% during the fourth quarter. Neuburgh Advisers LLC now owns 7,656 shares of the bank’s stock worth $139,000 after acquiring an additional 1,078 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Customers Bancorp during the fourth quarter worth about $152,000. 81.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CUBI traded down $0.33 during trading hours on Monday, reaching $20.49. 3,294 shares of the company traded hands, compared to its average volume of 151,647. The firm has a fifty day moving average price of $20.40. The stock has a market cap of $648.46 million, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 0.95 and a beta of 1.02. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.10 and a quick ratio of 1.10. Customers Bancorp has a 12 month low of $16.72 and a 12 month high of $30.01.

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 operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.

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Earnings History and Estimates for Customers Bancorp (NYSE:CUBI)

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