Customers Bancorp, Inc. (NYSE:CUBI) Expected to Earn Q4 2024 Earnings of $1.81 Per Share

Customers Bancorp, Inc. (NYSE:CUBI) – Research analysts at B. Riley upped their Q4 2024 EPS estimates for shares of Customers Bancorp in a research note issued to investors on Friday, April 12th. B. Riley analyst H. Goetsch now anticipates that the bank will earn $1.81 per share for the quarter, up from their previous estimate of $1.73. B. Riley has a “Buy” rating and a $77.00 price objective on the stock. The consensus estimate for Customers Bancorp’s current full-year earnings is $6.87 per share.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. Customers Bancorp had a net margin of 17.23% and a return on equity of 18.75%. The company had revenue of $191.18 million for the quarter, compared to analyst estimates of $187.87 million.

A number of other research firms have also commented on CUBI. Raymond James upped their price objective on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. Jefferies Financial Group upped their price objective on shares of Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Wedbush cut their target price on shares of Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Customers Bancorp has a consensus rating of “Moderate Buy” and an average target price of $61.86.

Customers Bancorp Trading Down 4.9 %

NYSE:CUBI opened at $46.62 on Monday. The firm’s fifty day moving average is $52.07 and its 200-day moving average is $48.26. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp has a 52 week low of $15.80 and a 52 week high of $60.09. The firm has a market cap of $1.47 billion, a P/E ratio of 6.38 and a beta of 1.67.

Insider Buying and Selling

In other Customers Bancorp news, CFO Carla A. Leibold sold 35,832 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the transaction, the chief financial officer now owns 41,224 shares in the company, valued at $2,191,055.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Customers Bancorp news, insider Glenn Hedde sold 666 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total transaction of $36,097.20. Following the transaction, the insider now owns 69,428 shares in the company, valued at $3,762,997.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Carla A. Leibold sold 35,832 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the transaction, the chief financial officer now owns 41,224 shares in the company, valued at approximately $2,191,055.60. The disclosure for this sale can be found here. 9.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Customers Bancorp by 4.6% during the first quarter. BlackRock Inc. now owns 4,837,269 shares of the bank’s stock worth $252,216,000 after buying an additional 214,065 shares during the last quarter. State Street Corp raised its holdings in shares of Customers Bancorp by 56.3% in the first quarter. State Street Corp now owns 2,282,972 shares of the bank’s stock valued at $119,034,000 after purchasing an additional 822,072 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Customers Bancorp by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,153,952 shares of the bank’s stock valued at $124,114,000 after purchasing an additional 40,134 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Customers Bancorp by 28.7% in the third quarter. Wellington Management Group LLP now owns 2,132,205 shares of the bank’s stock valued at $73,454,000 after purchasing an additional 475,907 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Customers Bancorp by 3.0% in the third quarter. Vanguard Group Inc. now owns 2,075,046 shares of the bank’s stock valued at $61,172,000 after purchasing an additional 61,350 shares during the last quarter. Institutional investors and hedge funds own 89.29% 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 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.