B. Riley Predicts Lower Earnings for Customers Bancorp

Customers Bancorp, Inc. (NYSE:CUBI) – Equities researchers at B. Riley lowered their Q4 2024 EPS estimates for Customers Bancorp in a report issued on Monday, November 4th. B. Riley analyst H. Goetsch now forecasts that the bank will earn $1.39 per share for the quarter, down from their prior estimate of $1.70. B. Riley has a “Buy” rating and a $80.00 price objective on the stock. The consensus estimate for Customers Bancorp’s current full-year earnings is $5.98 per share. B. Riley also issued estimates for Customers Bancorp’s FY2025 earnings at $7.23 EPS.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The firm had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $191.61 million. During the same quarter last year, the company posted $2.59 EPS. The firm’s revenue was down 23.2% compared to the same quarter last year.

Several other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $57.00 to $52.00 in a research note on Monday. DA Davidson increased their price target on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. StockNews.com cut shares of Customers Bancorp from a “hold” rating to a “sell” rating in a report on Monday. Raymond James cut their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Hovde Group cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Customers Bancorp currently has a consensus rating of “Hold” and an average target price of $61.88.

Customers Bancorp Price Performance

CUBI opened at $51.76 on Wednesday. Customers Bancorp has a 12-month low of $40.61 and a 12-month high of $68.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $1.64 billion, a P/E ratio of 8.40 and a beta of 1.61. The stock has a fifty day moving average of $47.19 and a 200-day moving average of $48.99.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, CEO Samvir S. Sidhu acquired 2,500 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average price of $45.53 per share, with a total value of $113,825.00. Following the purchase, the chief executive officer now owns 144,504 shares in the company, valued at approximately $6,579,267.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Glenn Hedde sold 5,002 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the transaction, the insider now owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Samvir S. Sidhu bought 2,500 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of $45.53 per share, with a total value of $113,825.00. Following the completion of the acquisition, the chief executive officer now owns 144,504 shares in the company, valued at approximately $6,579,267.12. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 6.92% of the stock is currently owned by company insiders.

Institutional Trading of Customers Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Quest Partners LLC grew its stake in Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after buying an additional 962 shares during the last quarter. Empowered Funds LLC boosted its holdings in Customers Bancorp by 5.2% during the third quarter. Empowered Funds LLC now owns 21,640 shares of the bank’s stock valued at $1,005,000 after acquiring an additional 1,072 shares during the period. GSA Capital Partners LLP grew its position in shares of Customers Bancorp by 10.5% in the third quarter. GSA Capital Partners LLP now owns 30,001 shares of the bank’s stock valued at $1,394,000 after purchasing an additional 2,857 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of Customers Bancorp in the third quarter worth about $3,470,000. Finally, Los Angeles Capital Management LLC bought a new stake in Customers Bancorp during the 3rd quarter valued at approximately $294,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Company Profile

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.