Q2 2024 EPS Estimates for Customers Bancorp, Inc. (NYSE:CUBI) Lowered by Wedbush

Customers Bancorp, Inc. (NYSE:CUBI) – Investment analysts at Wedbush lowered their Q2 2024 earnings estimates for Customers Bancorp in a research note issued on Monday, June 24th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings of $1.50 per share for the quarter, down from their previous estimate of $1.61. Wedbush has a “Outperform” rating and a $61.00 price target on the stock. The consensus estimate for Customers Bancorp’s current full-year earnings is $6.38 per share. Wedbush also issued estimates for Customers Bancorp’s Q3 2024 earnings at $1.69 EPS, Q4 2024 earnings at $1.76 EPS and FY2024 earnings at $6.35 EPS.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Friday, April 26th. The bank reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.05. Customers Bancorp had a net margin of 16.88% and a return on equity of 18.17%. The business had revenue of $181.62 million during the quarter, compared to analysts’ expectations of $183.48 million. During the same quarter in the previous year, the company earned $1.58 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year.

A number of other equities research analysts have also commented on the stock. Hovde Group lowered their price target on shares of Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Jefferies Financial Group upped their price target on shares of Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.50.

Customers Bancorp Trading Down 0.6 %

Shares of CUBI opened at $46.49 on Tuesday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 6.49 and a beta of 1.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp has a fifty-two week low of $27.41 and a fifty-two week high of $60.09. The firm has a 50 day moving average price of $46.42 and a 200-day moving average price of $50.55.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CUBI. GAMMA Investing LLC bought a new position in Customers Bancorp in the 4th quarter worth $78,000. Federated Hermes Inc. grew its position in shares of Customers Bancorp by 29,550.0% in the 3rd quarter. Federated Hermes Inc. now owns 3,558 shares of the bank’s stock worth $123,000 after buying an additional 3,546 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Customers Bancorp in the 4th quarter worth about $209,000. Coldstream Capital Management Inc. purchased a new stake in shares of Customers Bancorp in the 4th quarter worth about $218,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Customers Bancorp in the 1st quarter worth about $220,000. 89.29% of the stock is currently owned by institutional investors.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.