Research Analysts Offer Predictions for Customers Bancorp Inc’s Q3 2019 Earnings (CUBI)
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.
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
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