Equity research analysts predict that Customers Bancorp, Inc. (NYSE: CUBI – Get a rating) will announce sales of $173.09 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts provided earnings estimates for Customers Bancorp. The lowest sales estimate is $164.80 million and the highest is $179.45 million. Bancorp Customers recorded sales of $155.58 million in the same quarter last year, suggesting a positive year-over-year growth rate of 11.3%. The company is due to release its next quarterly earnings report on Monday, January 1.
On average, analysts expect Customers Bancorp to report annual sales of $719.66 million for the current fiscal year, with estimates ranging from $703.39 million to $754.95 million. For the next fiscal year, analysts expect the company to post sales of $705.09 million, with estimates ranging from $642.30 million to $769.41 million. Zacks sales calculations are an average average based on a survey of analysts who provide coverage for Customers Bancorp.
Several brokerages have published reports on CUBI. Stephens began coverage of Customers Bancorp in a research note on Monday, March 28. They set an “equal weight” rating and a price target of $62.50 on the stock. Zacks Investment Research upgraded Customers Bancorp from a “hold” rating to a “buy” rating and set a target price of $48.00 for the company in a Friday, May 6 report. Maxim Group reaffirmed a “buy” rating and set a target price of $85.00 on Customers Bancorp stock in a Friday, April 29 report. StockNews.com supposed coverage of Customers Bancorp in a Thursday, March 31 report. They set a “holding” rating for the company. Finally, Keefe, Bruyette & Woods upgraded Customers Bancorp from a “market performance” rating to an “outperform” rating and increased its target price for the business from $72.00 to $80.00 in a report from Monday, March 28. Four research analysts gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $69.31.
Shares of CUBI opened at $41.17 on Friday. The stock’s 50-day moving average is $44.85 and its two-hundred-day moving average is $55.42. Bancorp Clients has a 12-month low of $34.55 and a 12-month high of $76.13. The stock has a market capitalization of $1.36 billion, a PE ratio of 4.11 and a beta of 1.58. The company has a debt ratio of 0.15, a current ratio of 0.81 and a quick ratio of 0.81.
Separately, CEO Samvir S. Sidhu acquired 2,965 shares of the company in a transaction dated Friday, May 6. The stock was purchased at an average price of $42.10 per share, for a total transaction of $124,826.50. As a result of the transaction, the CEO now owns 80,637 shares of the company, valued at $3,394,817.70. The purchase was disclosed in an SEC filing, which is available via this hyperlink. Additionally, manager Lyle Cunningham sold 1,000 shares in a trade on Tuesday, May 3. The shares were sold at an average price of $43.06, for a total value of $43,060.00. Following the sale, the director now owns 11,051 shares of the company, valued at approximately $475,856.06. Disclosure of this sale can be found here. Over the past ninety days, insiders have acquired 4,465 shares of the company valued at $186,912. 10.23% of the shares are currently held by company insiders.
Several large investors have recently changed their positions in the company. Maryland State Retirement & Pension System increased its position in Customers Bancorp stock by 1.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 11,888 shares of the bank valued at $777,000 after acquiring 161 additional shares in the last quarter. Captrust Financial Advisors increased its holdings of Customers Bancorp shares by 9.0% in the third quarter. Captrust Financial Advisors now owns 2,801 shares of the bank valued at $120,000 after buying 231 additional shares in the last quarter. Lazard Asset Management LLC increased its holdings of Customers Bancorp stock by 70.5% in the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank valued at $44,000 after buying an additional 284 shares last quarter. Mutual of America Capital Management LLC increased its holdings of Customers Bancorp stock 7.1% in the first quarter. Mutual of America Capital Management LLC now owns 4,364 shares of the bank valued at $228,000 after buying 290 additional shares last quarter. Finally, Exchange Traded Concepts LLC increased its holding in shares of Customers Bancorp by 1.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 18,133 shares of the bank valued at $1,185,000 after buying an additional 292 shares last quarter. Institutional investors hold 83.48% of the company’s shares.
Clients Company Profile Bancorp (Get a rating)
Customers Bancorp, Inc operates as a banking holding company for Customers Bank which provides financial products and services to individuals and small and medium businesses. The Company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers lending products, including commercial warehouse mortgages, multifamily and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgages and installment loans.
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