Customers Bancorp (NYSE:CUBI) Releases Fiscal Year 2022 Earnings Guidance


Bancorp clients (NYSE:CUBI – get rating) issued an update on its fiscal 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.75-$5.00 for the period, compared to the consensus estimate of $7.56. The company issued earnings guidance of -.

Several stock research analysts have recently published reports on the company. StockNews.com assumed coverage of Customers Bancorp in an investigative report on Thursday, March 31. They issued a retention rating for the company. B. Riley lowered his price target on Customers Bancorp from $100.00 to $90.00 in a report on Tuesday, April 12. Keefe, Bruyette & Woods upgraded Customers Bancorp from a market performance rating to an outperformance rating and increased its price target for the company from $72.00 to $80.00 in a report dated Monday, March 28. Stephens began coverage of Customers Bancorp in a report on Monday, March 28. They issued an equal weight rating and a $62.50 price target on the stock. Ultimately, Maxim Group reiterated a buy rating and issued an $85.00 price target for Customers Bancorp shares in a report on Friday, April 29. Four research analysts rated the shares with a hold rating and five issued a buy rating on the company’s shares. According to MarketBeat, Customers Bancorp currently has a moderate Buy consensus rating and a consensus price target of $72.36.

Customers Bancorp shares opened at $34.35 on Thursday. Customers Bancorp has a twelve month minimum of $32.19 and a twelve month maximum of $76.13. The stock’s 50-day simple moving average is $40.16 and its 200-day simple moving average is $52.87. The firm has a current ratio of 0.81, a quick ratio of 0.81, and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.13 billion, a P/E ratio of 3.43, and a beta of 1.58.

Bancorp clients (NYSE:CUBI – get rating) last posted its earnings results on Wednesday, April 27. The bank reported $2.19 EPS for the quarter, beating the consensus estimate of $1.66 by $0.53. The firm had revenue of $185.90 million in the quarter, compared to analyst estimates of $170.48 million. Bancorp customers had a return on capital of 30.79% and a net margin of 40.14%. Sell-side analysts predict that Customers Bancorp will post 7.82 earnings per share for the current year.

In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 2,965 shares of the company in a transaction on Friday, May 6. The share was purchased at an average price of $42.10 per share, for a total transaction of $124,826.50. Following the completion of the purchase, the CEO now owns 80,637 shares of the company, valued at $3,394,817.70. The acquisition was disclosed in an SEC filing, which is available via this link. Additionally, director Lyle Cunningham sold 1,000 shares of capital stock in a transaction dated Tuesday, May 3. The shares were sold at an average price of $43.06, for a total transaction 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. Insiders bought 4,465 shares of the company worth $186,912 in the last three months. Currently, 6.75% of the shares are owned by insiders of the company.

Institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors improved its position in Customers Bancorp by 38.9% in the first quarter. Captrust Financial Advisors now owns 3,761 shares of the bank valued at $196,000 after purchasing an additional 1,054 shares during the period. Wellington Management Group LLP acquired a new stake in Customers Bancorp in the first quarter valued at about $255,000. Point72 Hong Kong Ltd improved its position in Customers Bancorp by 1,062.7% in the first quarter. Point72 Hong Kong Ltd now owns 5,988 shares of the bank valued at $312,000 after purchasing an additional 5,473 shares during the period. Walleye Capital LLC acquired a new stake in Customers Bancorp in the first quarter valued at about $361,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Customers Bancorp in the first quarter valued at around $497,000. Institutional investors and hedge funds own 83.48% of the company’s shares.

Bancorp Clients Company Profile (get rating)

Customers Bancorp, Inc operates as the banking holding company for Customers Bank which provides financial products and services to individual consumers and small and medium-sized businesses. The company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers credit products, including commercial warehouse mortgage loans, commercial and multi-family real estate loans, commercial banking, small business loans, equipment financing, residential mortgage loans, and installment loans.

Other readings

Earnings history and estimates for Bancorp clients (NYSE:CUBI)

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