Customers Bancorp (NYSE:CUBI) Releases Earnings Results, Misses Estimates By $0.09 EPS

Customers Bancorp (NYSE:CUBI - Get Free Report) posted its quarterly earnings data on Thursday. The bank reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.09), Briefing.com reports. The business had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.79%. The company's revenue for the quarter was down 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.59 earnings per share.

Customers Bancorp Price Performance

CUBI stock traded down $0.45 during trading on Friday, reaching $45.68. 887,899 shares of the company were exchanged, compared to its average volume of 346,592. The company has a market cap of $1.45 billion, a P/E ratio of 7.42 and a beta of 1.61. Customers Bancorp has a 52-week low of $40.46 and a 52-week high of $68.49. The stock's 50 day moving average price is $47.26 and its 200 day moving average price is $48.92. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CUBI shares. B. Riley lifted their target price on shares of Customers Bancorp from $77.00 to $78.00 and gave the company a "buy" rating in a report on Monday, July 29th. Hovde Group downgraded shares of Customers Bancorp from an "outperform" rating to a "market perform" rating and set a $49.00 target price on the stock. in a report on Friday, August 9th. Keefe, Bruyette & Woods lowered their target price on shares of Customers Bancorp from $76.00 to $63.00 and set an "outperform" rating on the stock in a report on Friday, August 9th. Wedbush downgraded shares of Customers Bancorp from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. Finally, DA Davidson lifted their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a "buy" rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Customers Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $64.14.

Insider Buying and Selling

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

Customers Bancorp Company Profile

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.