Customers Bancorp Inc Expected to Post Q3 2018 Earnings of $0.50 Per Share (CUBI)
Customers Bancorp Inc (NYSE:CUBI) – Analysts at Boenning Scattergood cut their Q3 2018 earnings per share estimates for shares of Customers Bancorp in a research note issued on Wednesday, October 17th. Boenning Scattergood analyst M. Schultheis now anticipates that the bank will post earnings of $0.50 per share for the quarter, down from their prior estimate of $0.65. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Customers Bancorp’s Q4 2018 earnings at $0.56 EPS, Q1 2019 earnings at $0.55 EPS and FY2020 earnings at $2.57 EPS.
Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, July 25th. The bank reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. The firm had revenue of $83.45 million during the quarter, compared to analysts’ expectations of $86.16 million. Customers Bancorp had a return on equity of 12.75% and a net margin of 16.24%. During the same quarter in the prior year, the business earned $0.78 earnings per share.
Shares of Customers Bancorp stock opened at $19.87 on Friday. The company has a market cap of $633.71 million, a price-to-earnings ratio of 9.03, a P/E/G ratio of 0.91 and a beta of 0.72. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.22 and a quick ratio of 0.97. Customers Bancorp has a 12-month low of $19.71 and a 12-month high of $33.85.
Institutional investors and hedge funds have recently bought and sold shares of the company. Riverhead Capital Management LLC boosted its position in shares of Customers Bancorp by 44.8% in the second quarter. Riverhead Capital Management LLC now owns 6,784 shares of the bank’s stock valued at $192,000 after acquiring an additional 2,100 shares during the period. Piedmont Investment Advisors LLC bought a new stake in shares of Customers Bancorp in the second quarter valued at approximately $196,000. Tyers Asset Management LLC boosted its position in shares of Customers Bancorp by 44.6% in the second quarter. Tyers Asset Management LLC now owns 7,448 shares of the bank’s stock valued at $211,000 after acquiring an additional 2,296 shares during the period. Private Advisor Group LLC bought a new stake in shares of Customers Bancorp in the second quarter valued at approximately $251,000. Finally, Flinton Capital Management LLC boosted its position in shares of Customers Bancorp by 44.6% in the second quarter. Flinton Capital Management LLC now owns 9,044 shares of the bank’s stock valued at $257,000 after acquiring an additional 2,788 shares during the period. 81.83% of the stock is owned by institutional investors.
Customers Bancorp Company Profile
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.
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