Customers Bancorp (CUBI) Scheduled to Post Quarterly Earnings on Thursday

Customers Bancorp (NYSE:CUBI) will be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.62 per share for the quarter. Parties that are interested in participating in the company’s earnings conference call can do so using this link.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, January 25th. The bank reported $1.90 EPS for the quarter, topping the consensus estimate of $1.76 by $0.14. Customers Bancorp had a net margin of 17.23% and a return on equity of 18.75%. The company had revenue of $191.18 million during the quarter, compared to the consensus estimate of $187.87 million. On average, analysts expect Customers Bancorp to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $48.94 on Tuesday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 6.69 and a beta of 1.67. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp has a fifty-two week low of $15.80 and a fifty-two week high of $60.09. The firm’s 50-day simple moving average is $51.70 and its 200 day simple moving average is $48.76.

Analyst Ratings Changes

CUBI has been the topic of a number of recent analyst reports. Raymond James raised their price target on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Monday, January 29th. Wedbush decreased their price target on Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. B. Riley upped their price objective on Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, Jefferies Financial Group lifted their target price on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.86.

Insider Activity

In related news, insider Glenn Hedde sold 666 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total value of $36,097.20. Following the completion of the transaction, the insider now directly owns 69,428 shares of the company’s stock, valued at approximately $3,762,997.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Customers Bancorp 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 completion of the sale, the insider now directly owns 69,428 shares in the company, valued at $3,762,997.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Carla A. Leibold sold 35,832 shares of the business’s stock in a transaction on 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 directly owns 41,224 shares in the company, valued at $2,191,055.60. The disclosure for this sale can be found here. Insiders own 9.40% 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.