Customers Bancorp (CUBI) Set to Announce Earnings on Wednesday

Customers Bancorp (NYSE:CUBI) is set to release its earnings data after the market closes on Wednesday, October 28th. Analysts expect Customers Bancorp to post earnings of $0.94 per share for the quarter. Customers Bancorp has set its FY 2020
Pre-Market guidance at 3.00-3.00 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.17. The company had revenue of $114.22 million during the quarter, compared to the consensus estimate of $108.09 million. Customers Bancorp had a net margin of 14.19% and a return on equity of 10.77%. On average, analysts expect Customers Bancorp to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Customers Bancorp stock opened at $13.87 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.42 and a quick ratio of 1.38. The company’s 50-day moving average is $12.27 and its 200-day moving average is $11.69. The firm has a market capitalization of $436.78 million, a PE ratio of 5.98 and a beta of 1.56. Customers Bancorp has a fifty-two week low of $8.36 and a fifty-two week high of $25.72.

In related news, COO Richard A. Ehst sold 2,500 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $13.70, for a total transaction of $34,250.00. In the last quarter, insiders have sold 5,239 shares of company stock worth $65,815. 9.71% of the stock is owned by corporate insiders.

A number of research firms recently commented on CUBI. Maxim Group reiterated a “buy” rating and set a $27.00 price target on shares of Customers Bancorp in a report on Friday, August 7th. ValuEngine cut Customers Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. Hovde Group initiated coverage on shares of Customers Bancorp in a research report on Wednesday, October 14th. They set an “outperform” rating and a $20.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $18.25.

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. It 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 non-retail time deposit.

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Earnings History for Customers Bancorp (NYSE:CUBI)

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