Customers Bancorp, Inc (NYSE:CUBI) released its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.09), Bloomberg Earnings reports. Customers Bancorp had a net margin of 19.75% and a return on equity of 15.38%. The firm had revenue of $86.05 million during the quarter, compared to the consensus estimate of $80.32 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share.
Shares of Customers Bancorp (CUBI) traded down $0.13 during mid-day trading on Friday, hitting $25.06. The stock had a trading volume of 287,000 shares, compared to its average volume of 209,299. The company has a current ratio of 1.17, a quick ratio of 0.91 and a debt-to-equity ratio of 2.27. The firm has a market cap of $776.01, a P/E ratio of 8.81 and a beta of 0.63. Customers Bancorp has a twelve month low of $24.83 and a twelve month high of $36.93.
A number of equities research analysts have recently weighed in on CUBI shares. BidaskClub upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, September 23rd. Zacks Investment Research downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Boenning Scattergood reaffirmed a “hold” rating on shares of Customers Bancorp in a report on Friday, October 27th. Finally, Maxim Group reaffirmed a “buy” rating and set a $50.00 target price on shares of Customers Bancorp in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $40.50.
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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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