Customers Bancorp (CUBI) Projected to Post Earnings on Thursday

Customers Bancorp (NYSE:CUBI) is expected to be issuing its quarterly earnings data after the market closes on Thursday, January 23rd. Analysts expect the company to announce earnings of $1.21 per share and revenue of $160,480.00 billion for the quarter.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results 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). The business had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The business’s revenue for the quarter was down 23.2% on a year-over-year basis. During the same period last year, the company earned $2.59 EPS. On average, analysts expect Customers Bancorp to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Customers Bancorp Stock Up 3.0 %

NYSE CUBI opened at $48.91 on Thursday. Customers Bancorp has a 1-year low of $42.31 and a 1-year high of $68.49. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 7.94 and a beta of 1.65. The stock’s 50 day moving average is $52.08 and its two-hundred day moving average is $50.91. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CUBI. Piper Sandler cut their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Raymond James cut their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Keefe, Bruyette & Woods raised their price objective on shares of Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Wedbush downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.22.

Insider Transactions at Customers Bancorp

In related news, insider Glenn Hedde sold 5,002 shares of Customers Bancorp stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the completion of the sale, the insider now directly owns 66,256 shares in the company, valued at $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Neil Mackay sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total transaction of $215,120.00. Following the transaction, the director now owns 4,567 shares in the company, valued at approximately $245,613.26. The trade was a 46.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,440 shares of company stock worth $5,425,815. Corporate insiders own 6.92% of the company’s stock.

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.