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

Customers Bancorp, Inc. (NYSE:CUBI) – Stock analysts at B. Riley upped their Q4 2024 earnings per share estimates for shares of Customers Bancorp in a research note issued on Friday, April 12th. B. Riley analyst H. Goetsch now forecasts that the bank will post earnings of $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.

Other research analysts also recently issued reports about the stock. Wedbush lowered their price objective on shares of Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Raymond James boosted their price target on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, January 29th. Finally, Jefferies Financial Group increased their price objective on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Two investment 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.86.

Customers Bancorp Price Performance

NYSE CUBI opened at $46.62 on Monday. The company has a market cap of $1.47 billion, a PE ratio of 6.38 and a beta of 1.67. Customers Bancorp has a 1 year low of $15.80 and a 1 year high of $60.09. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92. The stock’s 50-day moving average price is $52.07 and its two-hundred day moving average price is $48.26.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its position in Customers Bancorp by 4.6% during the 1st quarter. BlackRock Inc. now owns 4,837,269 shares of the bank’s stock worth $252,216,000 after acquiring an additional 214,065 shares during the last quarter. State Street Corp lifted its position in Customers Bancorp by 56.3% during the 1st quarter. State Street Corp now owns 2,282,972 shares of the bank’s stock worth $119,034,000 after acquiring an additional 822,072 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Customers Bancorp by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,153,952 shares of the bank’s stock worth $124,114,000 after acquiring an additional 40,134 shares during the last quarter. Wellington Management Group LLP lifted its position in Customers Bancorp by 28.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,132,205 shares of the bank’s stock worth $73,454,000 after acquiring an additional 475,907 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Customers Bancorp by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,075,046 shares of the bank’s stock worth $61,172,000 after purchasing an additional 61,350 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Buying and Selling

In other news, insider Glenn Hedde sold 666 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total transaction of $36,097.20. Following the completion of the sale, the insider now owns 69,428 shares in the company, valued at approximately $3,762,997.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total value of $36,097.20. Following the transaction, the insider now owns 69,428 shares of the company’s stock, valued at $3,762,997.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 sale, the chief financial officer now directly owns 41,224 shares of the company’s stock, valued at $2,191,055.60. The disclosure for this sale can be found here. 9.40% of the stock is currently owned by corporate insiders.

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.