Q1 2018 EPS Estimates for Customers Bancorp, Inc Increased by Boenning Scattergood (NYSE:CUBI)

Customers Bancorp, Inc (NYSE:CUBI) – Equities research analysts at Boenning Scattergood lifted their Q1 2018 earnings per share (EPS) estimates for shares of Customers Bancorp in a report issued on Wednesday, according to Zacks Investment Research. Boenning Scattergood analyst M. Schultheis now forecasts that the bank will post earnings per share of $0.71 for the quarter, up from their prior 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.

CUBI has been the topic of several other reports. Maxim Group reiterated a “buy” rating and issued a $50.00 price target on shares of Customers Bancorp in a research report on Friday, October 20th. Zacks Investment Research lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. B. Riley initiated coverage on shares of Customers Bancorp in a research report on Friday, December 8th. They issued a “buy” rating and a $35.00 price target on the stock. BidaskClub lowered shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, November 10th. Finally, ValuEngine upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Customers Bancorp currently has an average rating of “Hold” and an average target price of $40.75.

Shares of Customers Bancorp (CUBI) traded up $0.26 on Friday, reaching $30.00. 268,781 shares of the company’s stock traded hands, compared to its average volume of 239,676. The firm has a market capitalization of $924.18, a price-to-earnings ratio of 14.63 and a beta of 0.61. Customers Bancorp has a one year low of $24.75 and a one year high of $36.62. The company has a quick ratio of 0.91, a current ratio of 1.17 and a debt-to-equity ratio of 2.27.

Customers Bancorp (NYSE:CUBI) last issued its earnings results 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). Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. The company had revenue of $86.05 million for the quarter, compared to analyst estimates of $80.32 million. During the same quarter in the previous year, the company posted $0.64 earnings per share.

In related news, Director Rick Burkey sold 1,129 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $26.74, for a total transaction of $30,189.46. Following the sale, the director now owns 40,919 shares in the company, valued at $1,094,174.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Richard A. Ehst sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was 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. In the last 90 days, insiders have sold 60,129 shares of company stock worth $1,603,489. 8.67% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of CUBI. Dimensional Fund Advisors LP raised its stake in Customers Bancorp by 18.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,977,458 shares of the bank’s stock worth $55,924,000 after purchasing an additional 301,538 shares during the period. Teachers Advisors LLC raised its stake in Customers Bancorp by 348.5% during the second quarter. Teachers Advisors LLC now owns 310,683 shares of the bank’s stock worth $8,786,000 after purchasing an additional 241,407 shares during the period. Legacy Advisors LLC purchased a new position in Customers Bancorp during the third quarter worth approximately $5,339,000. Kornitzer Capital Management Inc. KS purchased a new position in Customers Bancorp during the third quarter worth approximately $5,190,000. Finally, Citigroup Inc. raised its stake in Customers Bancorp by 467.0% during the second quarter. Citigroup Inc. now owns 151,067 shares of the bank’s stock worth $4,272,000 after purchasing an additional 124,424 shares during the period. 87.79% of the stock is currently owned by institutional investors.

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Customers Bancorp Company Profile

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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Earnings History and Estimates for Customers Bancorp (NYSE:CUBI)

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