B. Riley Lowers Earnings Estimates for Customers Bancorp

Customers Bancorp, Inc. (NYSE:CUBI) – B. Riley lowered their Q4 2024 EPS estimates for shares of Customers Bancorp in a research note issued on Monday, November 4th. B. Riley analyst H. Goetsch now expects that the bank will earn $1.39 per share for the quarter, down from their prior estimate of $1.70. B. Riley has a “Buy” rating and a $80.00 price objective on the stock. The consensus estimate for Customers Bancorp’s current full-year earnings is $6.11 per share. B. Riley also issued estimates for Customers Bancorp’s FY2025 earnings at $7.23 EPS.

Several other equities analysts have also commented on the stock. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a report on Friday, August 9th. Piper Sandler decreased their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday. Raymond James dropped their target price on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. DA Davidson upped their price target on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.88.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $55.50 on Wednesday. The business’s fifty day simple moving average is $47.19 and its 200-day simple moving average is $48.97. Customers Bancorp has a 52 week low of $40.61 and a 52 week high of $68.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1.76 billion, a PE ratio of 9.01 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The firm had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. During the same quarter in the previous year, the business posted $2.59 earnings per share. Customers Bancorp’s revenue for the quarter was down 23.2% on a year-over-year basis.

Institutional Investors Weigh In On Customers Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in shares of Customers Bancorp by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock worth $107,575,000 after purchasing an additional 21,302 shares in the last quarter. Vanguard Group Inc. grew its position in Customers Bancorp by 5.4% during the first quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after buying an additional 111,654 shares during the period. American Century Companies Inc. grew its position in Customers Bancorp by 14.6% during the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after buying an additional 87,557 shares during the period. Hood River Capital Management LLC increased its holdings in Customers Bancorp by 94.3% in the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock valued at $26,344,000 after buying an additional 266,462 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Customers Bancorp by 88.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after acquiring an additional 225,785 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling at Customers Bancorp

In other news, CEO Samvir S. Sidhu acquired 2,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the transaction, the chief executive officer now owns 144,504 shares in the company, valued at $6,579,267.12. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.