Customers Bancorp Inc (NYSE:CUBI) – Equities research analysts at B. Riley dropped their Q4 2018 earnings per share estimates for shares of Customers Bancorp in a research note issued on Thursday, November 8th. B. Riley analyst S. Moss now forecasts that the bank will post earnings of $0.47 per share for the quarter, down from their previous forecast of $0.50. B. Riley has a “Neutral” rating and a $23.00 price objective on the stock. B. Riley also issued estimates for Customers Bancorp’s Q1 2019 earnings at $0.45 EPS, Q2 2019 earnings at $0.50 EPS, Q4 2019 earnings at $0.53 EPS, Q1 2020 earnings at $0.45 EPS, Q2 2020 earnings at $0.54 EPS and Q3 2020 earnings at $0.59 EPS.
A number of other brokerages have also recently issued reports on CUBI. Zacks Investment Research cut Customers Bancorp from a “hold” rating to a “strong sell” rating in a report on Thursday, October 18th. Maxim Group reissued a “buy” rating and issued a $46.00 target price on shares of Customers Bancorp in a report on Tuesday, August 14th. Boenning Scattergood raised Customers Bancorp from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Friday, October 26th. ValuEngine cut Customers Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, August 13th. Finally, Sandler O’Neill set a $27.00 target price on Customers Bancorp and gave the stock a “hold” rating in a report on Monday, September 24th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Customers Bancorp currently has an average rating of “Hold” and an average target price of $29.33.
Shares of CUBI opened at $20.27 on Friday. Customers Bancorp has a 1 year low of $18.57 and a 1 year high of $32.34. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $682.80 million, a PE ratio of 8.80, a P/E/G ratio of 0.85 and a beta of 0.85.
Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, October 25th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.03). Customers Bancorp had a return on equity of 13.10% and a net margin of 16.01%. The company had revenue of $66.09 million during the quarter, compared to analyst estimates of $64.64 million.
Hedge funds have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC increased its holdings in Customers Bancorp by 44.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,784 shares of the bank’s stock valued at $192,000 after purchasing an additional 2,100 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Customers Bancorp during the 2nd quarter valued at $196,000. Tyers Asset Management LLC increased its holdings in Customers Bancorp by 44.6% during the 2nd quarter. Tyers Asset Management LLC now owns 7,448 shares of the bank’s stock valued at $211,000 after purchasing an additional 2,296 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Customers Bancorp during the 2nd quarter valued at $251,000. Finally, Flinton Capital Management LLC increased its holdings in Customers Bancorp by 44.6% during the 2nd quarter. Flinton Capital Management LLC now owns 9,044 shares of the bank’s stock valued at $257,000 after purchasing an additional 2,788 shares in the last quarter. 81.74% of the stock is owned by hedge funds and other institutional investors.
About Customers Bancorp
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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