B. Riley Forecasts Reduced Earnings for Customers Bancorp

Customers Bancorp, Inc. (NYSE:CUBI - Free Report) - Analysts at B. Riley cut their Q4 2024 earnings per share (EPS) estimates for Customers Bancorp in a note issued to investors on Monday, November 4th. B. Riley analyst H. Goetsch now expects that the bank will post earnings per share of $1.39 for the quarter, down from their prior forecast of $1.70. B. Riley currently has a "Buy" rating and a $80.00 target price on the stock. The consensus estimate for Customers Bancorp's current full-year earnings is $6.11 per share. B. Riley also issued estimates for Customers Bancorp's FY2025 earnings at $7.23 EPS.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods cut Customers Bancorp from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $57.00 to $52.00 in a research note on Monday. StockNews.com lowered Customers Bancorp from a "hold" rating to a "sell" rating in a report on Monday. DA Davidson raised their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Hovde Group cut Customers Bancorp from an "outperform" rating to a "market perform" rating and set a $49.00 price objective for the company. in a report on Friday, August 9th. Finally, Raymond James dropped their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Customers Bancorp has a consensus rating of "Hold" and a consensus target price of $61.88.

Customers Bancorp Price Performance

Shares of Customers Bancorp stock traded up $9.06 during trading hours on Wednesday, reaching $55.50. The company's stock had a trading volume of 1,034,826 shares, compared to its average volume of 367,464. The firm has a 50 day moving average price of $47.09 and a 200-day moving average price of $48.92. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market cap of $1.76 billion, a P/E ratio of 8.58 and a beta of 1.61. Customers Bancorp has a one year low of $40.61 and a one year high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.09). The business had revenue of $167.10 million during the quarter, compared to analysts' expectations of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company's revenue for the quarter was down 23.2% compared to the same quarter last year. During the same period last year, the business posted $2.59 earnings per share.

Insider Activity at Customers Bancorp

In other news, CEO Samvir S. Sidhu acquired 2,500 shares of the business's stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price of $45.53 per share, with a total value of $113,825.00. Following the transaction, the chief executive officer now directly owns 144,504 shares in the company, valued at approximately $6,579,267.12. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.92% of the stock is owned by corporate insiders.

Institutional Trading of Customers Bancorp

A number of institutional investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC purchased a new stake in shares of Customers Bancorp during the second quarter valued at $2,508,000. Hillsdale Investment Management Inc. acquired a new position in shares of Customers Bancorp in the first quarter valued at about $4,266,000. Intech Investment Management LLC purchased a new position in shares of Customers Bancorp in the second quarter worth about $698,000. SG Americas Securities LLC lifted its holdings in shares of Customers Bancorp by 208.5% during the first quarter. SG Americas Securities LLC now owns 21,632 shares of the bank's stock worth $1,148,000 after purchasing an additional 14,621 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in Customers Bancorp by 26.6% in the second quarter. Thrivent Financial for Lutherans now owns 71,473 shares of the bank's stock valued at $3,429,000 after buying an additional 15,011 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.