Customers Bancorp (NYSE:CUBI) Releases Earnings Results, Beats Expectations By $0.17 EPS
Customers Bancorp (NYSE:CUBI) announced its quarterly earnings results on Thursday. The bank reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.17, MarketWatch Earnings reports. The business had revenue of $114.22 million for 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%. Customers Bancorp updated its FY 2020
Pre-Market guidance to 3.00-3.00 EPS.
NYSE CUBI traded down $0.12 during trading hours on Friday, reaching $11.85. 263,942 shares of the company’s stock were exchanged, compared to its average volume of 197,299. The company’s 50-day moving average is $11.32 and its two-hundred day moving average is $14.35. Customers Bancorp has a one year low of $8.36 and a one year high of $25.72. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.42. The company has a market capitalization of $373.16 million, a price-to-earnings ratio of 5.07 and a beta of 1.48.
A number of analysts recently weighed in on CUBI shares. ValuEngine upgraded shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 2nd. Zacks Investment Research downgraded shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $21.33.
Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company 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 certificates of deposit.
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