Customers Bancorp (CUBI) Set to Announce Earnings on Wednesday

Customers Bancorp (NYSE:CUBI) is scheduled to post its quarterly earnings results after the market closes on Wednesday, January 24th. Analysts expect Customers Bancorp to post earnings of $0.62 per share for the quarter.

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 analysts’ consensus estimates of $0.70 by ($0.09). The business had revenue of $86.05 million during the quarter, compared to analyst estimates of $80.32 million. Customers Bancorp had a net margin of 19.75% and a return on equity of 15.38%. During the same quarter in the prior year, the company earned $0.64 EPS. On average, analysts expect Customers Bancorp to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Customers Bancorp (CUBI) opened at $30.38 on Monday. The firm has a market capitalization of $935.89, a PE ratio of 15.74 and a beta of 0.61. Customers Bancorp has a twelve month low of $24.75 and a twelve month high of $35.62. The company has a quick ratio of 0.91, a current ratio of 1.17 and a debt-to-equity ratio of 2.27.

A number of equities analysts have recently weighed in on CUBI shares. Zacks Investment Research downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. BidaskClub upgraded Customers Bancorp from a “hold” rating to a “buy” rating in a report on Friday, September 29th. Boenning Scattergood downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating in a report on Friday, October 20th. Maxim Group reiterated a “buy” rating and issued a $50.00 target price on shares of Customers Bancorp in a report on Friday, October 20th. Finally, TheStreet downgraded Customers Bancorp from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $40.75.

In related news, COO Richard A. Ehst sold 9,000 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $26.70, for a total value of $240,300.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Rick Burkey sold 1,129 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $26.74, for a total value of $30,189.46. Following the completion of the transaction, the director now owns 40,919 shares in the company, valued at approximately $1,094,174.06. The disclosure for this sale can be found here. Insiders sold 60,129 shares of company stock worth $1,603,489 in the last 90 days. 8.67% of the stock is currently owned by corporate insiders.

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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).

Earnings History for Customers Bancorp (NYSE:CUBI)

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