DA Davidson Lowers Earnings Estimates for Customers Bancorp

Customers Bancorp, Inc. (NYSE:CUBI - Free Report) - DA Davidson lowered their FY2025 earnings per share estimates for Customers Bancorp in a research report issued on Wednesday, April 2nd. DA Davidson analyst P. Winter now expects that the bank will post earnings per share of $6.01 for the year, down from their prior estimate of $6.95. DA Davidson has a "Buy" rating and a $71.00 price objective on the stock. The consensus estimate for Customers Bancorp's current full-year earnings is $6.45 per share.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%.

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their price objective on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a "market perform" rating in a report on Monday, January 27th. Maxim Group upped their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Finally, Stephens reiterated an "equal weight" rating and issued a $58.00 price objective on shares of Customers Bancorp in a report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Customers Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $64.00.

Customers Bancorp Stock Performance

Customers Bancorp stock traded up $3.57 during mid-day trading on Friday, hitting $46.32. 234,484 shares of the company's stock traded hands, compared to its average volume of 370,548. Customers Bancorp has a one year low of $40.75 and a one year high of $68.49. The company has a market cap of $1.46 billion, a PE ratio of 9.09 and a beta of 1.47. The firm has a 50 day moving average price of $52.37 and a 200 day moving average price of $50.83. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77.

Hedge Funds Weigh In On Customers Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Picton Mahoney Asset Management boosted its position in Customers Bancorp by 47.7% during the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock valued at $28,000 after purchasing an additional 189 shares during the last quarter. R Squared Ltd bought a new stake in shares of Customers Bancorp in the 4th quarter valued at approximately $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Customers Bancorp in the fourth quarter worth approximately $46,000. KBC Group NV lifted its stake in Customers Bancorp by 82.8% in the fourth quarter. KBC Group NV now owns 1,495 shares of the bank's stock valued at $73,000 after acquiring an additional 677 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Customers Bancorp by 323.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock worth $80,000 after acquiring an additional 1,255 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Customers Bancorp news, insider Glenn Hedde sold 15,815 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $58.25, for a total transaction of $921,223.75. Following the completion of the sale, the insider now directly owns 55,211 shares in the company, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jay S. Sidhu sold 33,173 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $57.25, for a total transaction of $1,899,154.25. Following the completion of the transaction, the chief executive officer now owns 1,032,723 shares in the company, valued at approximately $59,123,391.75. This represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,988 shares of company stock worth $6,627,318 over the last 90 days. 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.