Analysts Offer Predictions for Customers Bancorp, Inc’s Q1 2018 Earnings (CUBI)
Customers Bancorp, Inc (NYSE:CUBI) – Investment analysts at Boenning Scattergood increased their Q1 2018 earnings estimates for shares of Customers Bancorp in a note issued to investors on Wednesday. Boenning Scattergood analyst M. Schultheis now expects that the bank will post earnings per share of $0.71 for the quarter, up from their previous forecast of $0.68. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Customers Bancorp’s Q2 2018 earnings at $0.87 EPS, Q3 2018 earnings at $0.96 EPS, Q4 2018 earnings at $0.91 EPS, FY2018 earnings at $3.44 EPS and FY2019 earnings at $4.09 EPS.
Several other equities research analysts have also commented on CUBI. BidaskClub upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, September 29th. Zacks Investment Research downgraded shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Maxim Group reissued a “buy” rating and issued a $50.00 target price on shares of Customers Bancorp in a research note on Thursday, October 26th. Finally, B. Riley initiated coverage on shares of Customers Bancorp in a research note on Friday, December 8th. They issued a “buy” rating and a $35.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Customers Bancorp presently has a consensus rating of “Hold” and an average price target of $39.25.
Shares of Customers Bancorp (NYSE CUBI) opened at $26.57 on Friday. Customers Bancorp has a 1 year low of $24.75 and a 1 year high of $36.93. The company has a quick ratio of 0.91, a current ratio of 1.17 and a debt-to-equity ratio of 2.27. The company has a market cap of $818.52, a PE ratio of 12.96 and a beta of 0.61.
Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.09). Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. The business had revenue of $86.05 million during the quarter, compared to analysts’ expectations of $80.32 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share.
In other news, CFO Robert E. Wahlman sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $26.66, for a total transaction of $1,333,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Richard A. Ehst sold 9,000 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $26.70, for a total transaction of $240,300.00. The disclosure for this sale can be found here. Insiders sold a total of 60,129 shares of company stock valued at $1,603,489 in the last three months. 8.67% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CUBI. Public Employees Retirement System of Ohio increased its position in Customers Bancorp by 26.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 76,509 shares of the bank’s stock worth $2,496,000 after purchasing an additional 16,109 shares in the last quarter. Algert Global LLC acquired a new stake in Customers Bancorp during the 3rd quarter worth approximately $1,416,000. Piedmont Investment Advisors LLC acquired a new stake in Customers Bancorp during the 3rd quarter worth approximately $205,000. Janney Montgomery Scott LLC acquired a new stake in Customers Bancorp during the 3rd quarter worth approximately $241,000. Finally, Kalos Management Inc. increased its position in Customers Bancorp by 23.7% during the 3rd quarter. Kalos Management Inc. now owns 21,491 shares of the bank’s stock worth $701,000 after purchasing an additional 4,119 shares in the last quarter. 87.79% of the stock is owned by institutional investors.
About Customers Bancorp
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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