Customers Bancorp Inc (NYSE:CUBI) Forecasted to Post Q3 2018 Earnings of $0.51 Per Share

Customers Bancorp Inc (NYSE:CUBI) – Equities research analysts at DA Davidson cut their Q3 2018 EPS estimates for Customers Bancorp in a research report issued to clients and investors on Wednesday, October 17th, Zacks Investment Research reports. DA Davidson analyst R. Gunther now forecasts that the bank will post earnings of $0.51 per share for the quarter, down from their prior estimate of $0.66. DA Davidson also issued estimates for Customers Bancorp’s Q1 2019 earnings at $0.53 EPS.

CUBI has been the subject of several other research reports. Sandler O’Neill upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Monday, October 15th. Zacks Investment Research upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Maxim Group reduced their price target on shares of Customers Bancorp to $38.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. They noted that the move was a valuation call. Boenning Scattergood upgraded shares of Customers Bancorp from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Friday, October 26th. Finally, B. Riley downgraded shares of Customers Bancorp from a “buy” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $23.00 in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $29.33.

Shares of NYSE:CUBI traded down $0.40 during mid-day trading on Thursday, hitting $20.27. The stock had a trading volume of 172,909 shares, compared to its average volume of 425,393. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.91 and a current ratio of 1.08. The company has a market cap of $682.80 million, a PE ratio of 9.21, a price-to-earnings-growth 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.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, October 25th. The bank reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.03). The firm had revenue of $66.09 million during the quarter, compared to analysts’ expectations of $64.64 million. Customers Bancorp had a net margin of 16.01% and a return on equity of 13.10%.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Customers Bancorp by 3.3% in the 3rd quarter. BlackRock Inc. now owns 4,374,667 shares of the bank’s stock valued at $102,936,000 after buying an additional 139,000 shares during the period. Tieton Capital Management LLC increased its stake in Customers Bancorp by 29.5% in the 3rd quarter. Tieton Capital Management LLC now owns 214,139 shares of the bank’s stock valued at $5,039,000 after buying an additional 48,776 shares during the period. Seizert Capital Partners LLC acquired a new position in Customers Bancorp in the 3rd quarter valued at approximately $1,746,000. Bank of New York Mellon Corp increased its stake in Customers Bancorp by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 380,615 shares of the bank’s stock valued at $8,957,000 after buying an additional 12,315 shares during the period. Finally, LaSalle Street Capital Management LLC acquired a new position in Customers Bancorp in the 3rd quarter valued at approximately $443,000. Hedge funds and other institutional investors own 81.74% of the company’s stock.

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

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