B. Riley Weighs in on Customers Bancorp, Inc.’s FY2021 Earnings (NYSE:CUBI)

Customers Bancorp, Inc. (NYSE:CUBI) – Stock analysts at B. Riley upped their FY2021 earnings per share (EPS) estimates for Customers Bancorp in a research note issued to investors on Wednesday, January 12th. B. Riley analyst S. Moss now anticipates that the bank will post earnings per share of $10.52 for the year, up from their previous estimate of $10.00. B. Riley currently has a “Buy” rating and a $100.00 target price on the stock. B. Riley also issued estimates for Customers Bancorp’s Q1 2022 earnings at $1.87 EPS, Q2 2022 earnings at $1.59 EPS, Q3 2022 earnings at $1.29 EPS, Q4 2022 earnings at $1.25 EPS, FY2022 earnings at $6.00 EPS and Q1 2023 earnings at $1.51 EPS.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group boosted their target price on Customers Bancorp from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, October 11th. DA Davidson reissued a “neutral” rating on shares of Customers Bancorp in a report on Tuesday, November 2nd. Wedbush upped their price target on Customers Bancorp from $61.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 29th. They noted that the move was a valuation call. Zacks Investment Research downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 2nd. Finally, Piper Sandler upped their price target on Customers Bancorp from $42.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, November 1st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $67.83.

Shares of Customers Bancorp stock opened at $74.71 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94. The business’s 50 day simple moving average is $61.86 and its two-hundred day simple moving average is $48.58. The stock has a market capitalization of $2.42 billion, a P/E ratio of 9.79 and a beta of 1.60. Customers Bancorp has a one year low of $20.97 and a one year high of $76.13.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Tuesday, October 26th. The bank reported $3.47 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.49. The company had revenue of $245.48 million during the quarter, compared to analyst estimates of $176.43 million. Customers Bancorp had a return on equity of 30.45% and a net margin of 33.58%. During the same quarter last year, the firm posted $1.20 EPS.

In other news, insider Glenn Hedde sold 1,767 shares of the firm’s stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $53.78, for a total value of $95,029.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director T Lawrence Way sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 9th. The shares were sold at an average price of $59.39, for a total value of $118,780.00. The disclosure for this sale can be found here. Insiders have sold 354,736 shares of company stock valued at $20,779,296 in the last quarter. 10.23% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC purchased a new position in shares of Customers Bancorp in the 2nd quarter valued at $15,996,000. Knights of Columbus Asset Advisors LLC grew its stake in Customers Bancorp by 1.0% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 82,736 shares of the bank’s stock worth $3,226,000 after buying an additional 814 shares during the last quarter. AQR Capital Management LLC grew its stake in Customers Bancorp by 15.6% during the 2nd quarter. AQR Capital Management LLC now owns 142,025 shares of the bank’s stock worth $5,538,000 after buying an additional 19,197 shares during the last quarter. Ziegler Capital Management LLC acquired a new stake in Customers Bancorp during the 3rd quarter worth about $1,832,000. Finally, State of Wisconsin Investment Board acquired a new stake in Customers Bancorp during the 2nd quarter worth about $289,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

About Customers Bancorp

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.

See Also: Bar Chart

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

Receive News & Ratings for Customers Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Customers Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.