Equities research analysts expect Customers Bancorp Inc (NYSE:CUBI) to report sales of $93.02 million for the current quarter, according to Zacks. Two analysts have issued estimates for Customers Bancorp’s earnings, with estimates ranging from $92.81 million to $93.24 million. Customers Bancorp reported sales of $66.09 million during the same quarter last year, which would suggest a positive year over year growth rate of 40.7%. The company is expected to report its next quarterly earnings report on Thursday, October 24th.
On average, analysts expect that Customers Bancorp will report full year sales of $345.78 million for the current fiscal year, with estimates ranging from $340.05 million to $351.50 million. For the next year, analysts expect that the firm will report sales of $372.39 million, with estimates ranging from $368.24 million to $376.55 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Customers Bancorp.
Customers Bancorp (NYSE:CUBI) last released its earnings results on Wednesday, July 24th. The bank reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. Customers Bancorp had a net margin of 10.13% and a return on equity of 9.54%. The firm had revenue of $64.68 million for the quarter, compared to analyst estimates of $64.51 million. During the same period last year, the firm earned $0.73 EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year.
In related news, insider James T. Collins sold 5,500 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $20.61, for a total transaction of $113,355.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 9.54% of the company’s stock.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Customers Bancorp by 2.4% in the 4th quarter. BlackRock Inc. now owns 4,480,650 shares of the bank’s stock worth $81,547,000 after buying an additional 105,983 shares during the last quarter. JPMorgan Chase & Co. increased its position in 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 purchasing an additional 845,596 shares during the period. LSV Asset Management increased its position in Customers Bancorp by 25.3% during the 1st quarter. LSV Asset Management now owns 514,652 shares of the bank’s stock worth $9,423,000 after purchasing an additional 104,052 shares during the period. Bank of New York Mellon Corp increased its position in Customers Bancorp by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 385,164 shares of the bank’s stock worth $7,009,000 after purchasing an additional 4,549 shares during the period. Finally, Nordea Investment Management AB increased its position in Customers Bancorp by 1.5% during the 1st quarter. Nordea Investment Management AB now owns 305,313 shares of the bank’s stock worth $5,591,000 after purchasing an additional 4,591 shares during the period. Institutional investors and hedge funds own 81.15% of the company’s stock.
CUBI stock traded down $0.31 during mid-day trading on Friday, hitting $19.36. The stock had a trading volume of 112,299 shares, compared to its average volume of 172,479. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.11 and a quick ratio of 1.11. Customers Bancorp has a 52 week low of $16.72 and a 52 week high of $26.77. The stock has a market capitalization of $644.72 million, a price-to-earnings ratio of 7.97, a P/E/G ratio of 1.06 and a beta of 1.02. The stock’s fifty day moving average is $20.30.
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 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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