Customers Bancorp (NYSE:CUBI) Releases Fiscal 2022 Earnings Forecast
Bancorp Customers (NYSE: CUBI – Get a rating) released an update to its fiscal 2022 earnings guidance Thursday morning. The company provided earnings per share (EPS) guidance of $4.75 to $5.00 for the period, compared to the consensus estimate of $7.56. The company released a revenue forecast of -.
A number of equity research analysts have recently released reports on the company. StockNews.com supposed coverage of Customers Bancorp in a Thursday, March 31 research report. They issued a holding note for the company. B. Riley reduced his price target on Customers Bancorp from $100.00 to $90.00 in a Tuesday, April 12 report. Keefe, Bruyette & Woods upgraded Customers Bancorp from a market performance rating to an outperformance rating and raised its price target for the company from $72.00 to $80.00 in a report on Monday 28 march. Stephens began covering Customers Bancorp in a report on Monday, March 28. They issued an equal weight rating and a price target of $62.50 on the stock. Finally, Maxim Group reiterated a buy rating and issued a price target of $85.00 on Customers Bancorp stock in a Friday, April 29 report. Four research analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat, Customers Bancorp currently has a Moderate Buy consensus rating and a consensus target price of $72.36.
Shares of Customers Bancorp opened at $34.35 on Thursday. Bancorp Clients has a 12-month low of $32.19 and a 12-month high of $76.13. The stock’s fifty-day simple moving average is $40.16 and its 200-day simple moving average is $52.87. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt ratio of 0.15. The company has a market capitalization of $1.13 billion, a P/E ratio of 3.43 and a beta of 1.58.
Bancorp Customers (NYSE: CUBI – Get a rating) last reported results on Wednesday, April 27. The bank reported EPS of $2.19 for the quarter, beating the consensus estimate of $1.66 by $0.53. The company posted revenue of $185.90 million for the quarter, versus analyst estimates of $170.48 million. Customers Bancorp had a return on equity of 30.79% and a net margin of 40.14%. Sell-side analysts expect Customers Bancorp to post earnings per share of 7.82 for the current year.
In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 2,965 shares of the company in a trade dated Friday, May 6. The stock was acquired at an average price of $42.10 per share, for a total transaction of $124,826.50. After the purchase was completed, the CEO now owns 80,637 shares of the company, valued at $3,394,817.70. The acquisition was disclosed in a filing with the SEC, which is available via this link. Additionally, manager Lyle Cunningham sold 1,000 shares in a trade dated Tuesday, May 3. The stock was sold at an average price of $43.06, for a total transaction of $43,060.00. Following the sale, the director now owns 11,051 shares of the company, valued at approximately $475,856.06. Disclosure of this sale can be found here. Insiders have purchased 4,465 shares of the company worth $186,912 over the past three months. 6.75% of the shares are currently held by company insiders.
Institutional investors and hedge funds have recently changed their positions in the company. Captrust Financial Advisors increased its position in Customers Bancorp by 38.9% in the first quarter. Captrust Financial Advisors now owns 3,761 shares of the bank valued at $196,000 after purchasing an additional 1,054 shares during the period. Wellington Management Group LLP acquired a new stake in Customers Bancorp in the first quarter worth approximately $255,000. Point72 Hong Kong Ltd increased its position in Customers Bancorp by 1,062.7% in the first quarter. Point72 Hong Kong Ltd now owns 5,988 shares in the bank valued at $312,000 after purchasing an additional 5,473 shares during the period. Walleye Capital LLC acquired a new stake in Customers Bancorp in the first quarter valued at approximately $361,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Customers Bancorp in the first quarter valued at approximately $497,000. Institutional investors and hedge funds hold 83.48% of the company’s shares.
Clients Company Profile Bancorp (Get a rating)
Customers Bancorp, Inc operates as a banking holding company for Customers Bank which provides financial products and services to individuals and small and medium businesses. The Company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers lending products, including commercial warehouse mortgages, multifamily and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgages and installment loans.
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