Customers Bancorp Inc (NYSE:CUBI) Expected to Announce Quarterly Sales of $103.31 Million

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Equities research analysts expect that Customers Bancorp Inc (NYSE:CUBI) will report $103.31 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Customers Bancorp’s earnings. The lowest sales estimate is $102.74 million and the highest is $103.87 million. Customers Bancorp reported sales of $79.02 million in the same quarter last year, which would suggest a positive year over year growth rate of 30.7%. The business is scheduled to issue its next earnings results on Wednesday, April 22nd.

On average, analysts expect that Customers Bancorp will report full-year sales of $428.42 million for the current fiscal year, with estimates ranging from $427.84 million to $429.00 million. For the next financial year, analysts anticipate that the firm will report sales of $453.33 million, with estimates ranging from $451.00 million to $455.66 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Customers Bancorp.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, January 22nd. The bank reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.01). Customers Bancorp had a return on equity of 10.53% and a net margin of 14.56%. The firm had revenue of $103.41 million during the quarter, compared to the consensus estimate of $93.76 million.

A number of research analysts recently weighed in on the company. Zacks Investment Research raised Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Maxim Group restated a “buy” rating and issued a $38.00 price target on shares of Customers Bancorp in a research note on Tuesday, January 28th. TheStreet raised Customers Bancorp from a “c” rating to a “b-” rating in a report on Friday, November 1st. B. Riley reiterated a “buy” rating and issued a $30.00 price target on shares of Customers Bancorp in a report on Tuesday, February 4th. Finally, ValuEngine upgraded Customers Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $32.00.

A number of institutional investors have recently bought and sold shares of CUBI. Bank of America Corp DE lifted its holdings in Customers Bancorp by 29.5% during the second quarter. Bank of America Corp DE now owns 29,751 shares of the bank’s stock worth $625,000 after buying an additional 6,786 shares during the period. Morgan Stanley increased its position in shares of Customers Bancorp by 463.3% in the 2nd quarter. Morgan Stanley now owns 129,926 shares of the bank’s stock valued at $2,729,000 after acquiring an additional 106,859 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Customers Bancorp by 71.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 24,946 shares of the bank’s stock valued at $524,000 after acquiring an additional 10,419 shares during the period. State of Alaska Department of Revenue increased its position in shares of Customers Bancorp by 127.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 22,107 shares of the bank’s stock valued at $458,000 after acquiring an additional 12,375 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Customers Bancorp by 58.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,729 shares of the bank’s stock valued at $57,000 after acquiring an additional 1,003 shares during the period. Institutional investors own 80.40% of the company’s stock.

CUBI stock traded down $0.05 on Friday, reaching $22.19. 84,438 shares of the company traded hands, compared to its average volume of 152,529. Customers Bancorp has a one year low of $17.35 and a one year high of $25.72. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.09 and a quick ratio of 1.04. The company has a market cap of $686.23 million, a P/E ratio of 10.82 and a beta of 1.13. The firm has a fifty day simple moving average of $22.43 and a 200-day simple moving average of $21.90.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.

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

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