Piper Sandler Weighs in on Customers Bancorp Inc’s Q2 2020 Earnings (NYSE:CUBI)

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Customers Bancorp Inc (NYSE:CUBI) – Analysts at Piper Sandler issued their Q2 2020 earnings per share (EPS) estimates for shares of Customers Bancorp in a research note issued to investors on Friday, January 24th. Piper Sandler analyst F. Schiraldi forecasts that the bank will post earnings per share of $0.71 for the quarter. Piper Sandler also issued estimates for Customers Bancorp’s FY2020 earnings at $3.03 EPS, Q2 2021 earnings at $0.78 EPS, Q3 2021 earnings at $0.88 EPS, Q4 2021 earnings at $0.91 EPS and FY2021 earnings at $3.32 EPS.

Several other research analysts have also weighed in on CUBI. Maxim Group reaffirmed a “buy” rating and issued a $38.00 target price on shares of Customers Bancorp in a research report on Friday, October 25th. ValuEngine raised Customers Bancorp from a “strong sell” rating to a “sell” rating in a research report on Saturday, January 4th. Zacks Investment Research lowered Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, January 10th. Finally, TheStreet raised Customers Bancorp from a “c” rating to a “b-” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Customers Bancorp has an average rating of “Hold” and a consensus target price of $32.00.

Shares of Customers Bancorp stock opened at $22.93 on Monday. The company has a current ratio of 1.09, a quick ratio of 1.04 and a debt-to-equity ratio of 1.43. Customers Bancorp has a 1 year low of $17.35 and a 1 year high of $25.72. The stock has a 50-day moving average price of $23.34 and a 200 day moving average price of $21.65. The company has a market cap of $735.71 million, a P/E ratio of 11.19 and a beta of 1.09.

A number of hedge funds have recently modified their holdings of the business. California State Teachers Retirement System increased its holdings in shares of Customers Bancorp by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 44,191 shares of the bank’s stock valued at $917,000 after acquiring an additional 528 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Customers Bancorp by 0.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 111,524 shares of the bank’s stock valued at $2,342,000 after acquiring an additional 589 shares during the last quarter. State of Tennessee Treasury Department increased its holdings in shares of Customers Bancorp by 8.5% during the 3rd quarter. State of Tennessee Treasury Department now owns 11,983 shares of the bank’s stock valued at $249,000 after acquiring an additional 942 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Customers Bancorp by 58.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,729 shares of the bank’s stock valued at $57,000 after acquiring an additional 1,003 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Customers Bancorp during the 2nd quarter valued at about $26,000. 79.85% of the stock is currently 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 operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.

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

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