Customers Bancorp (CUBI) Expected to Announce Earnings on Thursday

Customers Bancorp (NYSE:CUBI) is projected to release its earnings data after the market closes on Thursday, January 23rd. Analysts expect Customers Bancorp to post earnings of $1.21 per share and revenue of $160,480.00 billion for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Customers Bancorp (NYSE:CUBI) last released its 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). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The firm had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. During the same quarter in the previous year, the firm earned $2.59 EPS. Customers Bancorp’s quarterly revenue was down 23.2% on a year-over-year basis. 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 Performance

Shares of Customers Bancorp stock opened at $50.73 on Wednesday. The business has a 50-day moving average price of $51.58 and a two-hundred day moving average price of $50.95. Customers Bancorp has a 1-year low of $42.31 and a 1-year high of $68.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.59 billion, a P/E ratio of 8.24 and a beta of 1.68.

Wall Street Analyst Weigh In

CUBI has been the subject of several recent analyst reports. B. Riley raised their target price on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Stephens increased their target price on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Piper Sandler decreased their price target on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Wedbush cut shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods boosted their target price on Customers Bancorp from $52.00 to $62.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.22.

Insider Transactions at Customers Bancorp

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