Customers Bancorp, Inc. (NYSE:CUBI) is expected to report quarterly revenue of $170.48 million
Brokers Expect Clients Bancorp, Inc. (NYSE:CUBI – received rating) to report revenue of $170.48 million for the current fiscal quarter Zacks Investment Research. Four analysts have issued estimates for Customers Bancorp’s revenue, with estimates ranging from $157.05 million to $200.60 million. Customers Bancorp reported revenue of $151.20 million for the same quarter last year, indicating a positive year-over-year growth rate of 12.8%. The company is expected to release its next earnings results after the market close on Monday, January 1st.
On average, analysts expect Customers Bancorp to report full-year revenue of $704.06 million for the current fiscal year, with estimates ranging from $687.70 million to $736.30 million. For the next year, analysts expect the company to post $699.68 million in revenue, with estimates ranging from $678.00 million to $733.52 million. Zacks Investment Research sales calculations are averages based on a survey of analysts who follow Customers Bancorp.
Customer Bancorp (NYSE:CUBI – received rating) last announced its earnings results on Monday, January 24th. The bank reported earnings per share of $2.92 for the quarter, missing Zacks’ consensus estimate of $2.94 ($0.02). The company had revenue of $210.69 million for the quarter, compared to the consensus estimate of $225.40 million. Clients Bancorp had a return on equity of 32.38% and a net margin of 36.64%. In the same quarter last year, the company posted $1.65 per share.
CUBI has been the subject of a number of recent research reports. Maxim Group raised its target price on Customers Bancorp from $75.00 to $85.00 in a research note on Wednesday, January 26. Keefe, Bruyette & Woods upgraded Customers Bancorp to an outperform rating from a market perform rating and raised their price target on the stock on Monday April 28. B. Riley lowered in on Tuesday April 12 a research note, his price target for Customers Bancorp from $100.00 to $90.00. Wedbush raised its price target on Customers Bancorp from $75.00 to $80.00 in a research note on Wednesday, January 26th. Finally, on Monday, March 28, Stephens initiated coverage of Customers Bancorp in a research note. They assigned an “equal weight” rating and a price target of $62.50 to the stock. Five equities research analysts have assigned a hold rating to the stock and five have assigned a buy rating to the company. According to MarketBeat, Customers Bancorp currently has a consensus rating of Buy and an average target price of $69.31.
Several hedge funds have recently bought and sold shares in the company. The Maryland State Retirement & Pension System increased its holdings of Customers Bancorp stock by 1.4% in the fourth quarter. The Maryland State Retirement & Pension System now owns 11,888 shares of the bank, valued at $777,000, after purchasing an additional 161 shares last quarter. Captrust Financial Advisors increased its stake in Customers Bancorp by 9.0% during the third quarter. Captrust Financial Advisors now owns 2,801 shares of the bank, valued at $120,000, having purchased an additional 231 shares during the period. Lazard Asset Management LLC increased its stake in Customers Bancorp by 70.5% in the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank, valued at $44,000, having purchased an additional 284 shares during the period. Exchange Traded Concepts LLC increased its stake in Customers Bancorp by 1.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 18,133 shares of the bank, valued at $1,185,000, having purchased an additional 292 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Customers Bancorp by 3.7% during the third quarter. Two Sigma Advisers LP now owns 8,400 shares of the bank valued at $361,000 after purchasing an additional 300 shares during the period. 83.73% of the shares are owned by hedge funds and other institutional investors.
shares of NYSE CUBI opened at $44.08 on Monday. The company’s 50-day moving average is $55.36 and its 200-day moving average is $57.04. Clients Bancorp has a 1 year low of $29.17 and a 1 year high of $76.13. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt to equity ratio of 0.72. The company has a market cap of $1.45 billion, a P/E of 4.98 and a beta of 1.54.
Clients Bancorp Company Profile (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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