DA Davidson Comments on Customers Bancorp Inc’s FY2018 Earnings (CUBI)

Customers Bancorp Inc (NYSE:CUBI) – Equities research analysts at DA Davidson reduced their FY2018 earnings per share (EPS) estimates for shares of Customers Bancorp in a report issued on Wednesday, October 17th. DA Davidson analyst R. Gunther now anticipates that the bank will earn $2.20 per share for the year, down from their previous forecast of $2.70. DA Davidson also issued estimates for Customers Bancorp’s Q4 2018 earnings at $0.41 EPS, Q2 2019 earnings at $0.49 EPS, Q3 2019 earnings at $0.56 EPS, Q4 2019 earnings at $0.57 EPS, FY2019 earnings at $2.15 EPS, Q1 2020 earnings at $0.48 EPS, Q2 2020 earnings at $0.58 EPS, Q3 2020 earnings at $0.61 EPS and FY2020 earnings at $2.25 EPS.

Other research analysts have also issued research reports about the company. Maxim Group restated a “buy” rating and set a $46.00 target price on shares of Customers Bancorp in a research report on Tuesday, August 14th. Sandler O’Neill upgraded Customers Bancorp from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Monday, October 15th. Zacks Investment Research upgraded Customers Bancorp from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Tuesday, July 3rd. Boenning Scattergood restated a “hold” rating on shares of Customers Bancorp in a research report on Wednesday. Finally, ValuEngine lowered Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $35.80.

Shares of NYSE:CUBI opened at $19.87 on Friday. Customers Bancorp has a 1 year low of $19.71 and a 1 year high of $33.85. The company has a market cap of $633.71 million, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 0.91 and a beta of 0.72. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 3.48.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, July 25th. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.07. Customers Bancorp had a return on equity of 12.75% and a net margin of 16.24%. The business had revenue of $83.45 million during the quarter, compared to analyst estimates of $86.16 million. During the same quarter in the previous year, the business earned $0.78 earnings per share.

Institutional investors have recently bought and sold shares of the company. Riverhead Capital Management LLC raised its stake in shares of Customers Bancorp by 44.8% during the second quarter. Riverhead Capital Management LLC now owns 6,784 shares of the bank’s stock valued at $192,000 after acquiring an additional 2,100 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Customers Bancorp during the second quarter valued at approximately $196,000. Tyers Asset Management LLC raised its stake in shares of Customers Bancorp by 44.6% during the second quarter. Tyers Asset Management LLC now owns 7,448 shares of the bank’s stock valued at $211,000 after acquiring an additional 2,296 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Customers Bancorp during the second quarter valued at approximately $251,000. Finally, Flinton Capital Management LLC raised its stake in shares of Customers Bancorp by 44.6% during the second quarter. Flinton Capital Management LLC now owns 9,044 shares of the bank’s stock valued at $257,000 after acquiring an additional 2,788 shares in the last quarter. 81.83% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, individual retirement, and non-retail time deposit accounts, as well as certificates of deposit.

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

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