Q4 EPS Estimates for Customers Bancorp Cut by B. Riley

Customers Bancorp, Inc. (NYSE:CUBI) – B. Riley dropped their Q4 2024 earnings estimates for shares of Customers Bancorp in a report released on Monday, November 4th. B. Riley analyst H. Goetsch now expects that the bank will post earnings of $1.39 per share for the quarter, down from their previous estimate of $1.70. B. Riley currently has a “Buy” rating and a $80.00 price target 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.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). The firm had revenue of $167.10 million for the quarter, compared to the consensus estimate of $191.61 million. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The company’s revenue was down 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.59 EPS.

A number of other analysts also recently weighed in on CUBI. DA Davidson upped their target price on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Piper Sandler reduced their price objective on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday. StockNews.com cut shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research report on Friday, August 9th. Finally, Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $79.00 to $53.00 in a research note on Tuesday, September 24th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.88.

Customers Bancorp Stock Performance

NYSE CUBI opened at $46.46 on Wednesday. The firm has a 50-day moving average price of $47.09 and a two-hundred day moving average price of $48.92. Customers Bancorp has a 12-month low of $40.61 and a 12-month high of $68.49. The company has a market capitalization of $1.47 billion, a P/E ratio of 7.54 and a beta of 1.61. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78.

Insider Activity at Customers Bancorp

In other news, CEO Samvir S. Sidhu acquired 2,500 shares of the stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $45.53 per share, with a total value of $113,825.00. Following the completion of the purchase, the chief executive officer now directly owns 144,504 shares of the company’s stock, valued at $6,579,267.12. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Customers Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in CUBI. Hood River Capital Management LLC boosted its holdings in Customers Bancorp by 94.3% in the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock valued at $26,344,000 after acquiring an additional 266,462 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Customers Bancorp by 88.9% during the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock worth $22,284,000 after buying an additional 225,785 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in Customers Bancorp in the second quarter valued at $7,690,000. Vanguard Group Inc. boosted its position in Customers Bancorp by 5.4% during the first quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock valued at $116,038,000 after acquiring an additional 111,654 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Customers Bancorp by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after acquiring an additional 87,557 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.