Customers Bancorp Inc (NYSE:CUBI) – Equities researchers at B. Riley reduced their Q3 2019 earnings estimates for shares of Customers Bancorp in a research report issued on Thursday, November 8th. B. Riley analyst S. Moss now forecasts that the bank will earn $0.53 per share for the quarter, down from their prior estimate of $0.70. B. Riley currently has a “Neutral” rating and a $23.00 target price on the stock. B. Riley also issued estimates for Customers Bancorp’s FY2019 earnings at $2.00 EPS and FY2020 earnings at $2.20 EPS.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, October 25th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.03). Customers Bancorp had a net margin of 16.01% and a return on equity of 13.10%. The company had revenue of $66.09 million during the quarter, compared to analysts’ expectations of $64.64 million.

Several other equities analysts have also commented on CUBI. Maxim Group dropped their target price on Customers Bancorp to $38.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. They noted that the move was a valuation call. Boenning Scattergood reiterated a “hold” rating on shares of Customers Bancorp in a research note on Wednesday, October 17th. Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. ValuEngine lowered Customers Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, August 13th. Finally, Sandler O’Neill upgraded Customers Bancorp from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Monday, October 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.33.

Customers Bancorp stock opened at $19.65 on Monday. The firm has a market capitalization of $641.95 million, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 0.80 and a beta of 0.85. Customers Bancorp has a 52 week low of $18.57 and a 52 week high of $32.34. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 1.28.

A number of institutional investors have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC increased its stake in Customers Bancorp by 44.8% during the second quarter. Riverhead Capital Management LLC now owns 6,784 shares of the bank’s stock worth $192,000 after acquiring an additional 2,100 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Customers Bancorp during the second quarter worth about $196,000. Tyers Asset Management LLC increased its stake in Customers Bancorp by 44.6% during the second quarter. Tyers Asset Management LLC now owns 7,448 shares of the bank’s stock worth $211,000 after acquiring an additional 2,296 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Customers Bancorp during the second quarter worth about $251,000. Finally, Flinton Capital Management LLC increased its stake in Customers Bancorp by 44.6% during the second quarter. Flinton Capital Management LLC now owns 9,044 shares of the bank’s stock worth $257,000 after acquiring an additional 2,788 shares during the last quarter. Hedge funds and other institutional investors own 81.64% 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 small and middle market businesses, not-for-profits, and consumers. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, individual retirement, and non-retail time deposit accounts, as well as certificates of deposit.

See Also: Cost of Equity For A Business, Investors

Earnings History and Estimates for Customers Bancorp (NYSE:CUBI)

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