Customers Bancorp (NYSE:CUBI) Issues Earnings Results, Beats Estimates By $0.17 EPS

Customers Bancorp (NYSE:CUBI) issued its earnings results on Thursday. The bank reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.17, MarketWatch Earnings reports. Customers Bancorp had a net margin of 14.19% and a return on equity of 10.77%. The company had revenue of $114.22 million during the quarter, compared to analyst estimates of $108.09 million. Customers Bancorp updated its FY 2020
Pre-Market guidance to 3.00-3.00 EPS.

CUBI stock traded down $0.12 during mid-day trading on Friday, hitting $11.85. The stock had a trading volume of 263,942 shares, compared to its average volume of 197,299. The company has a current ratio of 1.42, a quick ratio of 1.06 and a debt-to-equity ratio of 1.30. Customers Bancorp has a 1-year low of $8.36 and a 1-year high of $25.72. The company has a fifty day moving average of $11.32 and a 200 day moving average of $14.35. The stock has a market capitalization of $373.16 million, a price-to-earnings ratio of 5.07 and a beta of 1.48.

A number of analysts recently issued reports on CUBI shares. Zacks Investment Research cut Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. ValuEngine raised Customers Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.33.

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 for Customers Bancorp (NYSE:CUBI)

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