Customers Bancorp (NYSE:CUBI) announced its quarterly earnings results on Thursday, October 25th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.03), Fidelity Earnings reports. Customers Bancorp had a net margin of 16.01% and a return on equity of 13.10%. The business had revenue of $66.09 million during the quarter, compared to analyst estimates of $64.64 million.
NYSE CUBI traded down $0.40 on Friday, hitting $20.27. 172,909 shares of the company were exchanged, compared to its average volume of 425,393. The firm has a market cap of $682.80 million, a PE ratio of 9.21, a P/E/G ratio of 0.85 and a beta of 0.85. Customers Bancorp has a 12 month low of $18.57 and a 12 month 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.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Customers Bancorp from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 18th. ValuEngine cut shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, August 13th. Maxim Group reiterated a “buy” rating and set a $46.00 price objective on shares of Customers Bancorp in a research report on Tuesday, August 14th. Boenning Scattergood reiterated a “hold” rating on shares of Customers Bancorp in a research report on Wednesday, October 17th. Finally, B. Riley lowered shares of Customers Bancorp from a “buy” rating to a “neutral” rating and cut their target price for the stock from $29.00 to $23.00 in a research note on Thursday. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Customers Bancorp currently has a consensus rating of “Hold” and a consensus price target of $29.33.
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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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