B. Riley Weighs in on Customers Bancorp Inc’s Q3 2019 Earnings (CUBI)

Customers Bancorp Inc (NYSE:CUBI) – Stock analysts at B. Riley reduced their Q3 2019 EPS estimates for Customers Bancorp in a research report issued on Tuesday, October 16th. B. Riley analyst S. Moss now forecasts that the bank will post earnings per share of $0.70 for the quarter, down from their previous forecast of $0.84. B. Riley also issued estimates for Customers Bancorp’s Q4 2019 earnings at $0.66 EPS, Q1 2020 earnings at $0.60 EPS, Q2 2020 earnings at $0.66 EPS and Q3 2020 earnings at $0.75 EPS.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Wednesday, July 25th. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.07. Customers Bancorp had a return on equity of 12.75% and a net margin of 16.24%. The business had revenue of $83.45 million for the quarter, compared to analysts’ expectations of $86.16 million. During the same period in the previous year, the business posted $0.78 EPS.

CUBI has been the subject of several other research reports. Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 27th. Sandler O’Neill raised Customers Bancorp from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Monday. ValuEngine lowered Customers Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Boenning Scattergood reissued a “hold” rating on shares of Customers Bancorp in a report on Wednesday. Finally, Maxim Group reissued a “buy” rating and set a $46.00 price objective on shares of Customers Bancorp in a report on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $35.80.

Shares of NYSE CUBI opened at $20.78 on Wednesday. Customers Bancorp has a 12 month low of $19.95 and a 12 month high of $33.85. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 3.48. The stock has a market cap of $745.19 million, a PE ratio of 9.40, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning boosted its stake in Customers Bancorp by 15.5% in the second quarter. Creative Planning now owns 14,904 shares of the bank’s stock worth $423,000 after buying an additional 2,000 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in Customers Bancorp by 44.8% in the second quarter. Riverhead Capital Management LLC now owns 6,784 shares of the bank’s stock worth $192,000 after buying an additional 2,100 shares in the last quarter. Strs Ohio boosted its stake in Customers Bancorp by 7.9% in the second quarter. Strs Ohio now owns 30,100 shares of the bank’s stock worth $854,000 after buying an additional 2,200 shares in the last quarter. Tyers Asset Management LLC boosted its stake in Customers Bancorp by 44.6% in the second quarter. Tyers Asset Management LLC now owns 7,448 shares of the bank’s stock worth $211,000 after buying an additional 2,296 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Customers Bancorp by 4.5% in the first quarter. Legal & General Group Plc now owns 54,787 shares of the bank’s stock worth $1,598,000 after buying an additional 2,373 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.

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 accepts various deposit products, such as checking, savings, money market deposit, time deposit, individual retirement, and non-retail time deposit accounts, as well as certificates of deposit.

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

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