Customers Bancorp (CUBI) set to announce quarterly results on Wednesday

Customers Bancorp (NYSE:CUBI – Get Rating) is expected to report earnings after market close on Wednesday, October 26. Analysts expect the company to report earnings of $1.92 per share for the quarter. Individuals wishing to register for the company’s earnings conference call can do so using this link.

Customers Bancorp (NYSE:CUBI – Get Rating) last released its quarterly results on Wednesday, July 27. The bank reported EPS of $1.77 for the quarter, missing analyst consensus estimates of $1.80 per ($0.03). Clients Bancorp had a net margin of 38.56% and a return on equity of 29.54%. The company posted revenue of $177.60 million for the quarter, versus a consensus estimate of $178.09 million. In the same period a year earlier, the company had earned earnings per share of $1.76. On average, analysts expect Customers Bancorp to post EPS of $8 for the current fiscal year and EPS of $6 for the next fiscal year.

Bancorp Stock customers down 0.2%

NYSE:CUBI shares opened at $33.29 on Wednesday. The company has a debt ratio of 0.67, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $1.08 billion, a PE ratio of 3.34 and a beta of 1.59. The company has a 50-day simple moving average of $33.89 and a two-hundred-day simple moving average of $37.36. Bancorp Customers has a 1-year minimum of $29.21 and a 1-year maximum of $76.13.

Analyst upgrades and downgrades

A number of brokerages have recently released reports on CUBI. StockNews.com began covering Customers Bancorp shares in a report on Wednesday, October 12. They set a “hold” rating for the company. DA Davidson reaffirmed a “neutral” rating on Customers Bancorp shares in a Wednesday, July 27 research report. Wedbush reaffirmed an “outperform” rating and set a $45.00 price target on Customers Bancorp stock in a Wednesday, September 28 research report. Jefferies Financial Group lowered its price target on Customers Bancorp stock from $63.00 to $48.00 in a Monday, July 11 research report. Finally, Stephens cut his price target on Customers Bancorp stock from $54.00 to $52.00 and set an “equal weight” rating for the company in a Tuesday, Aug. 2 research report. Four analysts gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.57.

Hedge funds weigh on Bancorp customers

Several institutional investors and hedge funds have recently changed their holdings in CUBI. State Street Corp increased its position in Customers Bancorp by 56.3% in the first quarter. State Street Corp now owns 2,282,972 shares of the bank worth $119,034,000 after purchasing an additional 822,072 shares during the period. BlackRock Inc. increased its stake in Customers Bancorp by 4.6% in the first quarter. BlackRock Inc. now owns 4,837,269 shares of the bank worth $252,216,000 after buying an additional 214,065 shares last quarter. Goldman Sachs Group Inc. increased its holdings of Customers Bancorp stock by 62.1% in the first quarter. Goldman Sachs Group Inc. now owns 151,517 shares of the bank valued at $7,900,000 after acquiring 58,027 additional shares last quarter. EJF Capital LLC increased its position in Customers Bancorp shares by 71.4% during the first quarter. EJF Capital LLC now owns 120,000 shares of the bank valued at $6,257,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Customers Bancorp by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,948,419 shares of the bank worth $101,591,000 after buying 37,717 additional shares in the last quarter. 86.12% of the shares are currently held by institutional investors and hedge funds.

About Bancorp Customers

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Customers Bancorp, Inc operates as a banking holding company for Customers Bank which provides financial products and services to individuals and small and medium businesses. The Company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers lending products, including commercial warehouse mortgages, multifamily and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgages and installment loans.

Further reading

Earnings history for Bancorp customers (NYSE: CUBI)

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