Customers Bancorp, Inc. (NYSE:CUBI – Free Report) – Investment analysts at Wedbush lowered their Q3 2024 earnings estimates for shares of Customers Bancorp in a research report issued on Thursday, August 1st. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings per share of $1.54 for the quarter, down from their previous estimate of $1.65. Wedbush has a “Outperform” rating and a $79.00 price target on the stock. The consensus estimate for Customers Bancorp’s current full-year earnings is $6.36 per share. Wedbush also issued estimates for Customers Bancorp’s FY2024 earnings at $6.35 EPS, Q1 2025 earnings at $1.74 EPS and Q4 2025 earnings at $1.94 EPS.
Customers Bancorp (NYSE:CUBI – Get Free Report) last posted its earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The business had revenue of $198.69 million for the quarter, compared to analyst estimates of $184.40 million. During the same period in the previous year, the firm earned $1.65 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year.
View Our Latest Stock Analysis on CUBI
Customers Bancorp Price Performance
Shares of CUBI opened at $57.50 on Friday. Customers Bancorp has a fifty-two week low of $31.16 and a fifty-two week high of $68.49. The firm has a market capitalization of $1.81 billion, a PE ratio of 8.03 and a beta of 1.65. The company’s 50-day moving average is $51.20 and its 200-day moving average is $51.00. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91.
Hedge Funds Weigh In On Customers Bancorp
A number of institutional investors have recently added to or reduced their stakes in CUBI. Ridgewood Investments LLC acquired a new stake in Customers Bancorp in the second quarter valued at approximately $48,000. GAMMA Investing LLC acquired a new stake in shares of Customers Bancorp during the 4th quarter valued at $78,000. Innealta Capital LLC bought a new stake in Customers Bancorp during the 2nd quarter worth $74,000. Aigen Investment Management LP acquired a new position in Customers Bancorp in the 4th quarter worth about $209,000. Finally, Coldstream Capital Management Inc. bought a new position in Customers Bancorp in the fourth quarter valued at about $218,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.
About Customers Bancorp
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.
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