Q3 2024 EPS Estimates for Customers Bancorp, Inc. (NYSE:CUBI) Lowered by Analyst

Customers Bancorp, Inc. (NYSE:CUBI) – Equities research analysts at DA Davidson cut their Q3 2024 earnings per share estimates for shares of Customers Bancorp in a research note issued on Thursday, October 3rd. DA Davidson analyst P. Winter now forecasts that the bank will post earnings per share of $1.46 for the quarter, down from their prior forecast of $1.54. DA Davidson currently has a “Buy” rating and a $79.00 target price on the stock. The consensus estimate for Customers Bancorp’s current full-year earnings is $6.34 per share. DA Davidson also issued estimates for Customers Bancorp’s FY2024 earnings at $6.14 EPS and FY2025 earnings at $7.24 EPS.

A number of other research analysts have also weighed in on the stock. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research note on Friday, August 9th. Keefe, Bruyette & Woods decreased their price target on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. B. Riley raised their price target on shares of Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group decreased their price target on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Customers Bancorp has an average rating of “Moderate Buy” and an average price target of $62.00.

Customers Bancorp Trading Up 0.7 %

Shares of Customers Bancorp stock opened at $45.34 on Friday. The firm has a market capitalization of $1.43 billion, a PE ratio of 6.33 and a beta of 1.61. Customers Bancorp has a twelve month low of $31.16 and a twelve month high of $68.49. The firm’s 50-day moving average price is $49.63 and its 200 day moving average price is $49.63. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $198.69 million for the quarter, compared to analysts’ expectations of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $1.65 EPS.

Institutional Trading of Customers Bancorp

Institutional investors have recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new stake in shares of Customers Bancorp during the 2nd quarter valued at approximately $48,000. Innealta Capital LLC acquired a new stake in Customers Bancorp in the 2nd quarter valued at approximately $74,000. Ashton Thomas Private Wealth LLC acquired a new stake in Customers Bancorp in the 2nd quarter valued at approximately $151,000. Capstone Investment Advisors LLC acquired a new stake in Customers Bancorp in the 1st quarter valued at approximately $220,000. Finally, SG Americas Securities LLC acquired a new stake in Customers Bancorp in the 3rd quarter valued at approximately $244,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Samvir S. Sidhu purchased 2,500 shares of Customers Bancorp stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price of $45.53 per share, with a total value of $113,825.00. Following the transaction, the chief executive officer now owns 144,504 shares in the company, valued at $6,579,267.12. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.92% of the company’s stock.

About Customers Bancorp

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 provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.