Customers Bancorp (NYSE: CUBI) Releases FY 2022 Earnings Guidance

Customers Bancorp (NYSE: CUBI – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $ 4.75- $ 5.00 for the period, compared to the consensus estimate of $ 7.56. The company issued revenue guidance of -.

A number of equities research analysts have recently issued reports on the company. StockNews.com assumed coverage on Customers Bancorp in a research report on Thursday, March 31st. They issued a hold rating for the company. B. Riley reduced their price objective on Customers Bancorp from $ 100.00 to $ 90.00 in a report on Tuesday, April 12th. Keefe, Bruyette & Woods upgraded Customers Bancorp from a market perform rating to an outperform rating and upped their price objective for the company from $ 72.00 to $ 80.00 in a report on Monday, March 28th. Stephens began coverage on Customers Bancorp in a report on Monday, March 28th. They issued an equal weight rating and a $ 62.50 price objective on the stock. Finally, Maxim Group reiterated a buy rating and issued a $ 85.00 price objective on shares of Customers Bancorp in a report on Friday, April 29th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Customers Bancorp currently has a consensus rating of Moderate Buy and a consensus target price of $ 72.36.

Customers Bancorp stock opened at $ 34.35 on Thursday. Customers Bancorp has a twelve month low of $ 32.19 and a twelve month high of $ 76.13. The stock’s fifty day simple moving average is $ 40.16 and its 200-day simple moving average is $ 52.87. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $ 1.13 billion, a P / E ratio of 3.43 and a beta of 1.58.

Customers Bancorp (NYSE: CUBI – Get Rating) last posted its earnings results on Wednesday, April 27th. The bank reported $ 2.19 EPS for the quarter, beating the consensus estimate of $ 1.66 by $ 0.53. The firm had revenue of $ 185.90 million for the quarter, compared to analyst estimates of $ 170.48 million. Customers Bancorp had a return on equity of 30.79% and a net margin of 40.14%. Sell-side analysts predict that Customers Bancorp will post 7.82 earnings per share for the current year.

In other Customers Bancorp news, CEO Samvir S. Sidhu bought 2,965 shares of the firm’s stock in a transaction dated Friday, May 6th. The stock was acquired at an average price of $ 42.10 per share, for a total transaction of $ 124,826.50. Following the completion of the purchase, the chief executive officer now owns 80,637 shares of the company’s stock, valued at $ 3,394,817.70. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Lyle Cunningham sold 1,000 shares of the stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $ 43.06, for a total transaction of $ 43,060.00. Following the sale, the director now owns 11,051 shares of the company’s stock, valued at approximately $ 475,856.06. The disclosure for this sale can be found here. Insiders purchased 4,465 shares of company stock worth $ 186,912 in the last three months. 6.75% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors lifted its position in Customers Bancorp by 38.9% in the first quarter. Captrust Financial Advisors now owns 3,761 shares of the bank’s stock valued at $ 196,000 after purchasing an additional 1,054 shares during the period. Wellington Management Group LLP acquired a new stake in Customers Bancorp in the first quarter valued at about $ 255,000. Point72 Hong Kong Ltd lifted its position in Customers Bancorp by 1,062.7% in the first quarter. Point72 Hong Kong Ltd now owns 5,988 shares of the bank’s stock valued at $ 312,000 after purchasing an additional 5,473 shares during the period. Walleye Capital LLC acquired a new stake in Customers Bancorp in the first quarter valued at about $ 361,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Customers Bancorp in the first quarter valued at about $ 497,000. Institutional investors and hedge funds own 83.48% of the company’s stock.

Customers Bancorp Company Profile (Get Rating)

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 offers deposits products, including checking, savings, MMDA, and other deposits accounts. It offers loan products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans.

Further Reading

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

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