Bancorp (NYSE:CUBI) releases earnings guidance for fiscal 2022
Clients Bancorp (NYSE:CUBI – received rating) released an update to its earnings guidance for fiscal 2022 on Thursday morning. The company provided guidance for earnings per share (EPS) of $4.75 to $5.00 for the period, compared to the consensus estimate of $7.56. The company gave a sales forecast of -.
NYSE:CUBI opened at $34.45 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt to equity ratio of 0.15. Client Bancorp has a 12-month low of $32.19 and a 12-month high of $76.13. The company has a market cap of $1.14 billion, a P/E of 3.44 and a beta of 1.58. The company has a 50-day simple moving average of $41.25 and a 200-day simple moving average of $53.71.
CUBI has been the subject of several analyst reports. Stephens began coverage on Customers Bancorp shares in a research note on Monday, March 28th. They set an equal weight rating and price target of $62.50 on the stock. Maxim Group downgraded a buy rating and price target of $85.00 on Customers Bancorp stock in a research note on Friday, April. StockNews.com began reporting on Customers Bancorp stock in a research note on Thursday, March 31st. You set a hold rating on the stock. Keefe, Bruyette & Woods upgraded shares of Customers Bancorp to an outperform rating from a market perform rating and raised their price target on the company to $80.00 from $72.00 in a research note on Monday, March , to th. Finally, B. Riley lowered its target price on shares of Customers Bancorp from $100.00 to $90.00 in a research note on Tuesday, April th. Four investment analysts have rated the stock with a hold rating and five have rated the company’s stock with a buy. According to data from MarketBeat.com, Customers Bancorp currently has a consensus rating of Buy and an average target price of $72.36.
Also, CEO Samvir S. Sidhu acquired 2,965 shares of the company’s stock in a transaction that took place on Friday, May 6th. The shares were purchased at an average price of $42.10 per share for a total transaction of $124,826.50. Following the acquisition, the Chief Executive Officer now owns 80,637 shares of the Company, valued at approximately $3,394,817.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed here the SEC website. In addition, CFO Carla A. Leibold acquired 1,000 shares of the company in a transaction that took place on Friday, May 6th. The shares were purchased at an average price of $42.10 per share for a total transaction of $42,100.00. Upon completion of the acquisition, the Chief Financial Officer now directly owns 68,348 shares of the Company, valued at approximately $2,877,450.80. The disclosure for this purchase can be found here. Over the past 90 days, insiders bought 4,465 shares of the company’s stock, valued at $186,912. Insiders own 10.23% of the company’s shares.
A number of large investors have recently changed their stock holdings. The Royal Bank of Canada increased its position in Customers Bancorp by 67.6% in the second quarter. The Royal Bank of Canada now owns 2,358 shares of the bank, valued at $92,000, having bought an additional 951 shares during this period. Captrust Financial Advisors increased its position in Customers Bancorp by 38.9% during the first quarter. Captrust Financial Advisors now owns 3,761 shares of the bank, valued at $196,000, having purchased an additional 1,054 shares during the period. Wellington Management Group LLP acquired a new interest in Customers Bancorp in Q1 for approximately $255,000. Millennium Management LLC acquired a new interest in Customers Bancorp valued at approximately $203,000 during the second quarter. Finally, Point72 Hong Kong Ltd increased its position in Customers Bancorp by 1,062.7% during the first quarter. Point72 Hong Kong Ltd now owns 5,988 shares in the bank, valued at $312,000, having bought a further 5,473 shares during the period. Institutional investors own 83.48% of the company’s shares.
About Clients Bancorp (received rating)
Customers Bancorp, Inc acts as the banking holding company for Customers Bank, which provides financial products and services to consumers and small and medium sized businesses. The Company offers deposit products including checking, savings, MMDA and other deposit accounts. It offers lending products including commercial mortgage inventory loans, multi-family and commercial real estate loans, commercial banks, small business loans, equipment financing, residential mortgage loans and personal loans.
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