Customers Bancorp Inc (CUBI) Expected to Announce Earnings of $0.58 Per Share
Equities research analysts expect that Customers Bancorp Inc (NYSE:CUBI) will report earnings per share of $0.58 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Customers Bancorp’s earnings, with estimates ranging from $0.47 to $0.75. Customers Bancorp posted earnings per share of $0.55 during the same quarter last year, which indicates a positive year-over-year growth rate of 5.5%. The business is scheduled to issue its next quarterly earnings report on Wednesday, January 23rd.
On average, analysts expect that Customers Bancorp will report full-year earnings of $2.53 per share for the current fiscal year, with EPS estimates ranging from $2.43 to $2.62. For the next financial year, analysts anticipate that the firm will post earnings of $2.12 per share, with EPS estimates ranging from $2.00 to $2.25. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Customers Bancorp.
Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, October 25th. The bank reported $0.62 earnings per share for the quarter, missing the 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 business had revenue of $66.09 million during the quarter, compared to the consensus estimate of $64.64 million.
CUBI traded up $0.08 during trading hours on Wednesday, hitting $20.05. The company’s stock had a trading volume of 17,178 shares, compared to its average volume of 328,335. Customers Bancorp has a 12 month low of $18.57 and a 12 month high of $32.34. The stock has a market capitalization of $632.80 million, a PE ratio of 9.20, a P/E/G ratio of 0.79 and a beta of 0.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.08 and a current ratio of 1.08.
A number of hedge funds have recently bought and sold shares of CUBI. California Public Employees Retirement System bought a new position in Customers Bancorp during the first quarter valued at $372,000. UBS Group AG boosted its stake in shares of Customers Bancorp by 124.7% during the first quarter. UBS Group AG now owns 89,062 shares of the bank’s stock valued at $2,597,000 after purchasing an additional 49,423 shares during the period. Legal & General Group Plc boosted its stake in shares of Customers Bancorp by 4.5% during the first quarter. Legal & General Group Plc now owns 54,787 shares of the bank’s stock valued at $1,598,000 after purchasing an additional 2,373 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Customers Bancorp by 5.2% during the first quarter. Principal Financial Group Inc. now owns 243,728 shares of the bank’s stock valued at $7,105,000 after purchasing an additional 12,127 shares during the period. Finally, Creative Planning boosted its stake in shares of Customers Bancorp by 15.5% during the second quarter. Creative Planning now owns 14,904 shares of the bank’s stock valued at $423,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 80.18% of the company’s stock.
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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