Customers Bancorp (CUBI) Expected to Announce Earnings on Thursday

Customers Bancorp (NYSE:CUBI - Get Free Report) is anticipated to post its quarterly earnings results after the market closes on Thursday, January 23rd. Analysts expect Customers Bancorp to post earnings of $1.21 per share and revenue of $160,480.00 billion for the quarter. Investors that are interested in registering for the company's conference call can do so using this link.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The business had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. During the same period in the prior year, the business posted $2.59 EPS. Customers Bancorp's revenue was down 23.2% compared to the same quarter last year. On average, analysts expect Customers Bancorp to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Customers Bancorp Stock Down 0.0 %

Shares of CUBI traded down $0.00 during mid-day trading on Thursday, hitting $48.99. 343,239 shares of the company traded hands, compared to its average volume of 315,014. The business has a 50 day moving average of $51.90 and a 200 day moving average of $50.89. The company has a market capitalization of $1.54 billion, a PE ratio of 7.95 and a beta of 1.68. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. Customers Bancorp has a 1-year low of $42.31 and a 1-year high of $68.49.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CUBI shares. Wedbush cut shares of Customers Bancorp from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. StockNews.com raised Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, December 1st. B. Riley boosted their price target on Customers Bancorp from $78.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Piper Sandler reduced their price objective on Customers Bancorp from $61.00 to $55.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods upped their target price on Customers Bancorp from $52.00 to $62.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $62.22.

Insider Buying and Selling at Customers Bancorp

In related news, Director Robert Neil Mackay sold 4,000 shares of Customers Bancorp stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total value of $215,120.00. Following the completion of the transaction, the director now owns 4,567 shares in the company, valued at $245,613.26. The trade was a 46.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Glenn Hedde sold 5,002 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the completion of the transaction, the insider now directly owns 66,256 shares of the company's stock, valued at $3,556,622.08. The trade was a 7.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,440 shares of company stock valued at $5,425,815. 6.92% of the stock is owned by company 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.