Customers Bancorp (NYSE:CUBI) Issues Earnings Results

Key Points

• Customers Bancorp reported quarterly EPS of $2.05, topping analyst expectations of $2.00, while revenue came in at $227.28 million, slightly below the $229.24 million estimate.
• The bank posted solid profitability metrics, including a 14.12% return on equity and an 18.63% net margin, though the stock fell 0.49 to $76.00 on the day of the report.
• Analyst sentiment remains constructive, with a consensus rating of Moderate Buy and an average price target of $89.62; recent updates included higher targets from Piper Sandler and JPMorgan.

Customers Bancorp (NYSE:CUBI - Get Free Report) announced its quarterly earnings data on Thursday. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.05, FiscalAI reports. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The business had revenue of $227.28 million during the quarter, compared to analysts' expectations of $229.24 million.

Customers Bancorp Stock Performance

CUBI stock traded down $0.49 on Thursday, hitting $76.00. The company had a trading volume of 272,868 shares, compared to its average volume of 367,375. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81. Customers Bancorp has a 12-month low of $59.34 and a 12-month high of $82.56. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 9.64 and a beta of 1.48. The stock's 50-day simple moving average is $76.27 and its 200 day simple moving average is $74.50.

Analyst Ratings Changes

CUBI has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Customers Bancorp in a research report on Monday, June 29th. Hovde Group increased their price objective on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a "market perform" rating in a research report on Tuesday, April 28th. Piper Sandler raised their price objective on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. Fundamental Research set a $94.00 target price on shares of Customers Bancorp in a report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Customers Bancorp from $86.00 to $94.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Customers Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $89.62.

Insider Buying and Selling at Customers Bancorp

In related news, EVP Philip Watkins sold 3,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $75.67, for a total transaction of $227,010.00. Following the completion of the sale, the executive vice president owned 43,993 shares in the company, valued at approximately $3,328,950.31. This represents a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samvir S. Sidhu bought 1,000 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $72.58 per share, for a total transaction of $72,580.00. Following the completion of the transaction, the chief executive officer directly owned 521,714 shares of the company's stock, valued at approximately $37,866,002.12. The trade was a 0.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 10.45% of the company's stock.

Hedge Funds Weigh In On Customers Bancorp

Several institutional investors have recently made changes to their positions in the business. Arax Advisory Partners grew its position in Customers Bancorp by 218.9% during the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank's stock valued at $26,000 after buying an additional 243 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Customers Bancorp in the third quarter worth approximately $29,000. Jones Financial Companies Lllp bought a new position in Customers Bancorp in the first quarter worth approximately $37,000. Transamerica Financial Advisors LLC lifted its position in Customers Bancorp by 216.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank's stock valued at $43,000 after purchasing an additional 404 shares in the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in Customers Bancorp in the fourth quarter worth about $105,000. Institutional investors own 89.29% of the company's stock.

Customers Bancorp Company Profile

Customers Bancorp, Inc NYSE: CUBI is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.