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

Customers Bancorp (NYSE:CUBI) is projected to issue its quarterly earnings data after the market closes on Thursday, January 23rd. Analysts expect the company to announce earnings of $1.21 per share and revenue of $160,480.00 billion for the quarter.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). The firm had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The firm’s revenue for the quarter was down 23.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.59 EPS. 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 Trading Up 3.0 %

Shares of NYSE CUBI opened at $48.91 on Thursday. Customers Bancorp has a twelve month low of $42.31 and a twelve month high of $68.49. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 7.94 and a beta of 1.65. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The company’s fifty day moving average is $52.08 and its 200-day moving average is $50.91.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, Director Robert Neil Mackay sold 4,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total transaction of $215,120.00. Following the transaction, the director now owns 4,567 shares in the company, valued at $245,613.26. This trade represents a 46.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay S. Sidhu sold 860 shares of Customers Bancorp stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $54.73, for a total value of $47,067.80. Following the sale, the chief executive officer now directly owns 1,189,738 shares of the company’s stock, valued at $65,114,360.74. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,440 shares of company stock valued at $5,425,815 in the last three months. 6.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. B. Riley lifted their price target on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wedbush downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. Finally, Stephens boosted their price objective on shares of Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Customers Bancorp has an average rating of “Moderate Buy” and a consensus price target of $62.22.

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.