Customers Bancorp, Inc (NYSE:CUBI) – Stock analysts at B. Riley boosted their Q1 2018 earnings estimates for shares of Customers Bancorp in a report released on Wednesday. B. Riley analyst S. Moss now forecasts that the bank will post earnings of $0.44 per share for the quarter, up from their previous forecast of $0.35. B. Riley currently has a “Buy” rating and a $41.00 target price on the stock. B. Riley also issued estimates for Customers Bancorp’s Q3 2018 earnings at $0.78 EPS, Q4 2018 earnings at $0.75 EPS, Q1 2019 earnings at $0.70 EPS, Q2 2019 earnings at $0.84 EPS, Q3 2019 earnings at $0.89 EPS and Q4 2019 earnings at $0.86 EPS.
A number of other equities analysts have also weighed in on the stock. ValuEngine upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Maxim Group reiterated a “buy” rating and set a $50.00 target price on shares of Customers Bancorp in a research report on Wednesday, November 22nd. TheStreet lowered shares of Customers Bancorp from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Zacks Investment Research upgraded shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating and set a $36.00 target price for the company in a research report on Tuesday, October 24th. Finally, BidaskClub upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, September 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $40.75.
Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.09). The company had revenue of $86.05 million for the quarter, compared to analysts’ expectations of $80.32 million. Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. During the same quarter last year, the business posted $0.64 EPS.
In other news, CFO Robert E. Wahlman sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $26.66, for a total value of $1,333,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rick Burkey sold 1,129 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $26.74, for a total transaction of $30,189.46. Following the completion of the transaction, the director now owns 40,919 shares of the company’s stock, valued at $1,094,174.06. The disclosure for this sale can be found here. Insiders have sold 60,129 shares of company stock valued at $1,603,489 in the last quarter. Company insiders own 8.67% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Kalos Management Inc. boosted its position in shares of Customers Bancorp by 23.7% in the third quarter. Kalos Management Inc. now owns 21,491 shares of the bank’s stock valued at $701,000 after acquiring an additional 4,119 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Customers Bancorp by 3.4% in the third quarter. Ameriprise Financial Inc. now owns 1,407,426 shares of the bank’s stock valued at $45,913,000 after acquiring an additional 46,459 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Customers Bancorp in the third quarter valued at approximately $301,000. Northern Trust Corp boosted its position in shares of Customers Bancorp by 3.0% in the second quarter. Northern Trust Corp now owns 349,766 shares of the bank’s stock valued at $9,891,000 after acquiring an additional 10,292 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Customers Bancorp by 5.9% in the third quarter. Nordea Investment Management AB now owns 249,021 shares of the bank’s stock valued at $8,123,000 after acquiring an additional 13,877 shares during the period. Institutional investors own 87.79% of the company’s stock.
Customers Bancorp Company Profile
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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