Customers Bancorp, Inc. (NYSE: CUBI – Get Rating) – Jefferies Financial Group raised its earnings per share estimate for the second quarter of 2022 for Customers Bancorp in a report released Monday, April 11. Jefferies Financial Group analyst C. Haire now expects the bank to post earnings of $2.03 per share for the quarter, up from its previous forecast of $1.89. Jefferies Financial Group also released estimates of Customers Bancorp Q3 2022 earnings at $1.70, Q1 2023 earnings at $1.78, Q2 2023 earnings at $1.76, Q4 2023 earnings at $1.62 and earnings for fiscal year 2023 at $6.85.
A number of other research companies have also published reports on CUBI recently. B. Riley lowered his target price on Customers Bancorp stock from $100.00 to $90.00 in a research report on Tuesday. Stephens began coverage of Customers Bancorp in a research note on Monday, March 28. They set an “equal weight” rating and a target price of $62.50 on the stock. Maxim Group raised its target price on Customers Bancorp from $75.00 to $85.00 in a Wednesday, January 26 report. StockNews.com launched coverage on Customers Bancorp in a research note on Thursday, March 31. They issued a “maintaining” rating for the company. Finally, Keefe, Bruyette & Woods upgraded Customers Bancorp from a “market performance” rating to an “outperform” rating and increased its target price for the stock from $72.00 to $80.00 in a report from Monday, March 28. Five equity research analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat, the stock has an average buy rating and an average price target of $69.31.
NYSE: CUBI opened at $44.41 on Tuesday. The company has a market capitalization of $1.46 billion, a price-earnings ratio of 5.02 and a beta of 1.54. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt ratio of 0.72. The company’s 50-day moving average is $56.35 and its two-hundred-day moving average is $57.00. Bancorp Clients has a 12-month low of $29.17 and a 12-month high of $76.13.
Customers Bancorp (NYSE:CUBI – Get Rating) last announced its results on Monday, January 24. The bank reported EPS of $2.92 for the quarter, missing analyst consensus estimates of $2.94 per ($0.02). Customers Bancorp had a net margin of 36.64% and a return on equity of 32.38%. The company posted revenue of $210.69 million in the quarter, versus analyst estimates of $225.40 million. In the same period a year earlier, the company earned earnings per share of $1.65.
A number of institutional investors and hedge funds have recently increased or reduced their holdings in CUBI. Victory Capital Management Inc. increased its stake in Customers Bancorp by 501.5% in the fourth quarter. Victory Capital Management Inc. now owns 570,420 shares of the bank worth $37,288,000 after purchasing an additional 475,590 shares during the period. JPMorgan Chase & Co. increased its position in Customers Bancorp by 5.9% in the fourth quarter. JPMorgan Chase & Co. now owns 557,238 shares of the bank worth $36,427,000 after acquiring 30,974 additional shares last quarter. Geode Capital Management LLC increased its position in Customers Bancorp by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 522,349 shares of the bank worth $34,145,000 after acquiring 2,223 additional shares last quarter. Emerald Mutual Fund Advisers Trust increased its position in Customers Bancorp by 258.6% in the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 520,600 shares of the bank worth $34,032,000 after acquiring 375,419 additional shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Customers Bancorp shares by 17.5% during the third quarter. Lord Abbett & CO. LLC now owns 481,862 shares of the bank valued at $20,730,000 after purchasing an additional 71,600 shares during the period. 83.73% of the shares are held by institutional investors and hedge funds.
Clients Company Profile Bancorp (Get an evaluation)
Customers Bancorp, Inc operates as a banking holding company for Customers Bank which provides financial products and services to individuals and small and medium businesses. The Company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers lending products, including commercial warehouse mortgages, multifamily and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgages and installment loans.
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