Q4 EPS Estimates for Customers Bancorp Reduced by B. Riley

Customers Bancorp, Inc. (NYSE:CUBI) – Stock analysts at B. Riley lowered their Q4 2024 EPS estimates for shares of Customers Bancorp in a report issued on Monday, November 4th. B. Riley analyst H. Goetsch now anticipates that the bank will post earnings per share of $1.39 for the quarter, down from their previous estimate of $1.70. B. Riley has a “Buy” rating and a $80.00 price objective on the stock. The consensus estimate for Customers Bancorp’s current full-year earnings is $6.11 per share. B. Riley also issued estimates for Customers Bancorp’s FY2025 earnings at $7.23 EPS.

A number of other research firms have also recently commented on CUBI. Raymond James dropped their price objective on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. DA Davidson boosted their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Piper Sandler decreased their target price on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday. Hovde Group cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a research note on Friday, August 9th. Finally, Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.88.

Customers Bancorp Stock Performance

NYSE CUBI opened at $55.50 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. Customers Bancorp has a fifty-two week low of $40.61 and a fifty-two week high of $68.49. The business has a fifty day moving average of $47.19 and a 200-day moving average of $48.97. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 9.01 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data 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). The company had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The company’s revenue for the quarter was down 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.59 earnings per share.

Institutional Trading of Customers Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ridgewood Investments LLC purchased a new stake in Customers Bancorp during the second quarter worth approximately $48,000. GAMMA Investing LLC increased its holdings in Customers Bancorp by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after purchasing an additional 282 shares in the last quarter. Innealta Capital LLC purchased a new position in Customers Bancorp in the second quarter valued at about $74,000. CWM LLC lifted its stake in shares of Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after purchasing an additional 274 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Customers Bancorp in the second quarter worth about $151,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Buying and Selling at Customers Bancorp

In other news, CEO Samvir S. Sidhu bought 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $45.53 per share, with a total value of $113,825.00. Following the transaction, the chief executive officer now owns 144,504 shares of the company’s stock, valued at $6,579,267.12. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.92% of the stock is owned by company insiders.

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.