Clients Bancorp, Inc. (NYSE:CUBI – get rating) – Wedbush increased its second quarter 2022 earnings per share (EPS) estimates for Customers Bancorp in a report released Thursday, June 30. Wedbush analyst P. Winter now sees the bank posting earnings of $1.73 per share for the quarter, up from his previous forecast of $1.59. The consensus estimate for Customers Bancorp’s current full-year earnings is $7.30 per share. Wedbush also issued estimates for Customers Bancorp’s Third Quarter 2022 Earnings at $1.87 EPS, Fourth Quarter 2022 Earnings at $1.93 EPS, Fiscal Year 2022 Earnings at $7.71 EPS, First Quarter 2023 Earnings at $1.61 EPS, Second Quarter 2023 Earnings at $1.70 EPS, Third Quarter 2023 Earnings at $1.82 EPS, Fourth Quarter 2023 Earnings at $1.90 EPS, and Fiscal Year 2023 Earnings at $7.03 EPS.
Other stock analysts also recently issued reports on the stock. Stephens kicked off the coverage of Customers Bancorp’s stock in a report on Monday, March 28. They issued an “equal weight” rating and a $62.50 price target for the company. B. Riley lowered the target price on Customers Bancorp stock from $100.00 to $90.00 in a report on Tuesday, April 12. Maxim Group reiterated a “buy” rating and issued an $85.00 price target on Customers Bancorp shares in a report on Friday, April 29. StockNews.com began coverage of the actions of Clientes Bancorp in a report dated Thursday, March 31. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods upgraded the shares of Customers Bancorp from a “market return” rating to an “outperform” rating and increased its target price for the shares from $72.00 to $80.00 in a report on Monday, May 28. of March. Four investment analysts rated the stock a hold rating and five assigned a buy rating to the stock. According to MarketBeat, Customers Bancorp currently has a “Moderate Buy” consensus rating and a consensus price target of $72.36.
Shares of Customers Bancorp opened at $34.70 on Monday. The company has a market cap of $1.14 billion, a PE ratio of 3.46, and a beta of 1.61. The firm has a debt-to-equity ratio of 0.15, a quick ratio of 0.81, and a current ratio of 0.81. The company has a 50-day simple moving average of $38.73 and a 200-day simple moving average of $51.63. Customers Bancorp has a one year minimum of $32.19 and a one year maximum of $76.13. Bancorp clients (NYSE:CUBI – get rating) last published its quarterly earnings data on Wednesday, April 27. The bank reported earnings per share of $2.19 in the quarter, beating the consensus estimate of $1.66 by $0.53. The firm had revenue of $185.90 million during the quarter, compared to the consensus estimate of $170.48 million. Bancorp customers had a return on capital of 30.79% and a net margin of 40.14%.
Several hedge funds and other institutional investors have recently changed their stock holdings. The Maryland State Retirement and Pension System boosted its position in Customers Bancorp by 1.4% in the fourth quarter. The Maryland State Retirement and Pension System now owns 11,888 shares of the bank valued at $777,000 after buying an additional 161 shares last quarter. Captrust Financial Advisors strengthened its position in Customers Bancorp by 9.0% in the 3rd quarter. Captrust Financial Advisors now owns 2,801 shares of the bank worth $120,000 after buying an additional 231 shares last quarter. Lazard Asset Management LLC increased its position in Customers Bancorp by 70.5% in the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank worth $44,000 after buying an additional 284 shares last quarter. Mutual of America Capital Management LLC boosted its position in Customers Bancorp by 7.1% in the first quarter. Mutual of America Capital Management LLC now owns 4,364 shares of the bank worth $228,000 after buying an additional 290 shares last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Customers Bancorp by 1.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 18,133 shares of the bank worth $1,185,000 after buying an additional 292 shares last quarter. Hedge funds and other institutional investors own 83.48% of the company’s shares.
In related news, director Lyle Cunningham sold 1,000 shares of the company’s capital stock in a transaction that occurred on Tuesday, May 3. The share was 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 $475,856.06. The sale was disclosed in a legal filing with the SEC, which is available via this link. Likewise, the general director Samvir S. Sidhu bought 2,965 shares of the company’s capital stock in a transaction that took place on Friday, May 6. The shares were purchased at an average price of $42.10 per share, for a total transaction of $124,826.50. Following the transaction, the CEO now owns 80,637 shares of the company, valued at $3,394,817.70. Disclosure of this purchase can be found here. In the last 90 days, experts bought 4,465 shares of the company worth $186,912. Corporate experts own 6.75% of the company’s shares.
About Bancorp Clients (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. Offers credit products, including commercial warehouse mortgage loans, commercial and multi-family real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans.
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