Customers Bancorp, Inc. (NYSE:CUBI – Free Report) – Wedbush cut their Q3 2024 EPS estimates for shares of Customers Bancorp in a research report issued on Thursday, August 1st. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings of $1.54 per share for the quarter, down from their previous estimate of $1.65. Wedbush currently has a “Outperform” rating and a $79.00 target price on the stock. The consensus estimate for Customers Bancorp’s current full-year earnings is $6.36 per share. Wedbush also issued estimates for Customers Bancorp’s FY2024 earnings at $6.35 EPS, Q1 2025 earnings at $1.74 EPS and Q4 2025 earnings at $1.94 EPS.
Customers Bancorp (NYSE:CUBI – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.06. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The company had revenue of $198.69 million during the quarter, compared to the consensus estimate of $184.40 million. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Customers Bancorp’s revenue for the quarter was up 3.9% on a year-over-year basis.
Get Our Latest Stock Analysis on Customers Bancorp
Customers Bancorp Price Performance
Shares of NYSE CUBI opened at $57.50 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75. The stock has a market cap of $1.81 billion, a P/E ratio of 8.03 and a beta of 1.65. The stock has a 50 day moving average of $51.20 and a two-hundred day moving average of $51.00. Customers Bancorp has a twelve month low of $31.16 and a twelve month high of $68.49.
Hedge Funds Weigh In On Customers Bancorp
Several hedge funds have recently bought and sold shares of CUBI. Ridgewood Investments LLC purchased a new position in shares of Customers Bancorp in the second quarter valued at $48,000. GAMMA Investing LLC acquired a new position in Customers Bancorp during the fourth quarter worth about $78,000. Innealta Capital LLC purchased a new stake in shares of Customers Bancorp in the second quarter valued at about $74,000. Aigen Investment Management LP acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at approximately $209,000. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Customers Bancorp during the 4th quarter worth approximately $218,000. 89.29% of the stock is owned by hedge funds and other institutional investors.
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.
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