Brokerages Anticipate Customers Bancorp, Inc. (NYSE:CUBI) Will Announce Quarterly Sales of $173.09 Million

Equities research analysts expect Customers Bancorp, Inc. (NYSE:CUBI – Get Rating) to announce sales of $173.09 million for the current quarter, Zacks reports. Four analysts have provided estimates for Customers Bancorp’s earnings, with the lowest sales estimate coming in at $164.80 million and the highest estimate coming in at $179.45 million. Customers Bancorp reported sales of $155.58 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.3%. The firm is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Customers Bancorp will report full year sales of $719.66 million for the current fiscal year, with estimates ranging from $703.39 million to $754.95 million. For the next financial year, analysts anticipate that the business will report sales of $705.09 million, with estimates ranging from $642.30 million to $769.41 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Customers Bancorp.

A number of equities analysts have recently commented on the stock. B. Riley reduced their price objective on shares of Customers Bancorp from $100.00 to $90.00 in a report on Tuesday, April 12th. Stephens assumed coverage on shares of Customers Bancorp in a research report on Monday, March 28th. They set an “equal weight” rating and a $62.50 target price for the company. Zacks Investment Research upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Friday. Wedbush increased their target price on shares of Customers Bancorp from $75.00 to $80.00 in a research report on Wednesday, January 26th. Finally, StockNews.com assumed coverage on shares of Customers Bancorp in a research report on Thursday, March 31st. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $69.31.

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NYSE:CUBI opened at $43.12 on Friday. The company has a 50-day moving average of $49.95 and a 200-day moving average of $56.94. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 4.30 and a beta of 1.58. Customers Bancorp has a 52 week low of $33.25 and a 52 week high of $76.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81.

In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 2,965 shares of the stock in a transaction dated Friday, May 6th. The stock was bought at an average price of $42.10 per share, for a total transaction of $124,826.50. Following the transaction, the chief executive officer now directly owns 80,637 shares in the company, valued at $3,394,817.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Carla A. Leibold purchased 1,000 shares of the stock in a transaction dated Friday, May 6th. The shares were acquired at an average price of $42.10 per share, with a total value of $42,100.00. Following the transaction, the chief financial officer now owns 68,348 shares in the company, valued at $2,877,450.80. The disclosure for this purchase can be found here. Company insiders own 10.23% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Kings Point Capital Management bought a new position in Customers Bancorp in the third quarter valued at approximately $31,000. Point72 Hong Kong Ltd bought a new stake in shares of Customers Bancorp in the fourth quarter worth $34,000. Lazard Asset Management LLC lifted its position in shares of Customers Bancorp by 70.5% in the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank’s stock worth $44,000 after purchasing an additional 284 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of Customers Bancorp in the fourth quarter worth $87,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Customers Bancorp in the fourth quarter worth $92,000. 83.48% of the stock is currently owned by institutional investors and hedge funds.

About Customers Bancorp (Get Rating)

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company offers deposits products, including checking, savings, MMDA, and other deposits accounts. It offers loan products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans.

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

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