Equities Analysts Issue Forecasts for Customers Bancorp, Inc.’s Q1 2022 Earnings

Customers Bancorp, Inc. (NYSE:CUBI) – Stock analysts at Wedbush lowered their Q1 2022 earnings estimates for shares of Customers Bancorp in a report issued on Monday, November 29th. Wedbush analyst P. Winter now anticipates that the bank will post earnings of $2.30 per share for the quarter, down from their previous forecast of $2.34. Wedbush currently has a “Outperform” rating and a $75.00 target price on the stock. Wedbush also issued estimates for Customers Bancorp’s Q2 2022 earnings at $1.94 EPS, Q3 2022 earnings at $1.38 EPS, FY2022 earnings at $6.96 EPS and FY2023 earnings at $6.09 EPS.

Several other equities analysts have also commented on the company. B. Riley raised their price objective on Customers Bancorp from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, October 29th. DA Davidson reissued a “neutral” rating on shares of Customers Bancorp in a research report on Tuesday, November 2nd. Maxim Group raised their price objective on Customers Bancorp from $52.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, October 29th. Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 2nd. Finally, Jefferies Financial Group lifted their price target on Customers Bancorp from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, October 11th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $64.50.

Shares of CUBI stock opened at $57.64 on Wednesday. The stock has a fifty day moving average of $50.76 and a 200 day moving average of $42.97. Customers Bancorp has a 52 week low of $16.81 and a 52 week high of $61.48. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 7.55 and a beta of 1.62. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Tuesday, October 26th. The bank reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $1.49. Customers Bancorp had a return on equity of 30.45% and a net margin of 33.58%. During the same period last year, the business earned $1.20 earnings per share.

A number of hedge funds and other institutional investors have recently bought and sold shares of CUBI. Basswood Capital Management L.L.C. lifted its holdings in Customers Bancorp by 64.8% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 1,104,205 shares of the bank’s stock worth $43,053,000 after purchasing an additional 434,151 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in Customers Bancorp in the 2nd quarter worth approximately $15,996,000. Peregrine Capital Management LLC purchased a new stake in shares of Customers Bancorp during the 2nd quarter worth approximately $14,831,000. State Street Corp raised its holdings in shares of Customers Bancorp by 18.4% during the 2nd quarter. State Street Corp now owns 1,560,991 shares of the bank’s stock worth $60,863,000 after acquiring an additional 242,377 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Customers Bancorp by 97.0% during the 3rd quarter. Nordea Investment Management AB now owns 418,154 shares of the bank’s stock worth $18,106,000 after acquiring an additional 205,867 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

In other news, insider Glenn Hedde sold 1,767 shares of Customers Bancorp stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $53.78, for a total transaction of $95,029.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jay S. Sidhu sold 50,000 shares of Customers Bancorp stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $59.85, for a total value of $2,992,500.00. The disclosure for this sale can be found here. Insiders sold a total of 183,035 shares of company stock valued at $10,784,518 over the last quarter. 10.23% of the stock is owned by corporate insiders.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as a bank holding company, which engages in the provision of banking services through its subsidiary, Customers Bank. It operates through the Customers Bank Business Banking and BankMobile segments. The Customers Bank Business Banking segment include commercial customers in Southeastern Pennsylvania, New York, New Jersey, Massachusetts, Rhode Island, New Hampshire, Washington, DC, and Illinois through a single-point-of-contact business model and provides liquidity to residential mortgage originators nationwide through commercial loans to mortgage companies.

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