Equities research analysts predict that Customers Bancorp Inc (NYSE:CUBI) will report earnings per share of $0.73 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Customers Bancorp’s earnings. Customers Bancorp posted earnings per share of $0.62 in the same quarter last year, which suggests a positive year over year growth rate of 17.7%. The company is expected to announce its next quarterly earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Customers Bancorp will report full-year earnings of $1.95 per share for the current fiscal year. For the next year, analysts expect that the company will report earnings of $2.90 per share. 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 Wednesday, July 24th. The bank reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $64.68 million for the quarter, compared to the consensus estimate of $64.51 million. Customers Bancorp had a return on equity of 9.54% and a net margin of 10.13%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.73 EPS.

CUBI has been the topic of several analyst reports. TheStreet downgraded Customers Bancorp from a “b-” rating to a “c+” rating in a research report on Thursday, May 23rd. Sandler O’Neill downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Zacks Investment Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, August 21st. Finally, Maxim Group reaffirmed a “buy” rating and set a $38.00 price target on shares of Customers Bancorp in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $27.95.

In other news, insider James T. Collins sold 5,500 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $20.61, for a total transaction of $113,355.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.54% of the company’s stock.

Several hedge funds have recently bought and sold shares of CUBI. JPMorgan Chase & Co. boosted its stake in shares of Customers Bancorp by 1,274.4% during the 1st quarter. JPMorgan Chase & Co. now owns 911,951 shares of the bank’s stock worth $16,697,000 after acquiring an additional 845,596 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Customers Bancorp during the 2nd quarter worth about $14,422,000. Invesco Ltd. boosted its stake in shares of Customers Bancorp by 338.7% during the 2nd quarter. Invesco Ltd. now owns 640,090 shares of the bank’s stock worth $13,442,000 after acquiring an additional 494,195 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Customers Bancorp during the 2nd quarter worth about $4,699,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Customers Bancorp by 88.0% during the 2nd quarter. Wells Fargo & Company MN now owns 426,630 shares of the bank’s stock worth $8,959,000 after acquiring an additional 199,732 shares in the last quarter. 82.00% of the stock is currently owned by institutional investors and hedge funds.

CUBI traded up $0.10 during midday trading on Friday, hitting $20.66. 126,300 shares of the company were exchanged, compared to its average volume of 164,948. The company’s 50 day simple moving average is $19.27 and its 200 day simple moving average is $20.15. The firm has a market capitalization of $629.57 million, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 0.94 and a beta of 1.05. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.77. Customers Bancorp has a 1-year low of $16.72 and a 1-year high of $24.91.

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 operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.

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

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