Brokers Set Expectations for Customers Bancorp, Inc.’s Q2 2023 Earnings (NYSE:CUBI)

Posted by Defense World Staff on May 4th, 2023

Customers Bancorp, Inc. (NYSE:CUBI – Get Rating) – Investment analysts at DA Davidson issued their Q2 2023 EPS estimates for Customers Bancorp in a report released on Monday, May 1st. DA Davidson analyst P. Winter expects that the bank will earn $1.34 per share for the quarter. The consensus estimate for Customers Bancorp’s current full-year earnings is $6.00 per share. DA Davidson also issued estimates for Customers Bancorp’s FY2023 earnings at $5.77 EPS and FY2024 earnings at $6.04 EPS.

Several other brokerages also recently weighed in on CUBI. Maxim Group increased their target price on shares of Customers Bancorp from $40.00 to $45.00 in a research note on Monday. TheStreet downgraded shares of Customers Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, March 17th. StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Customers Bancorp from $51.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Customers Bancorp has a consensus rating of “Moderate Buy” and an average price target of $50.13.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $17.55 on Wednesday. The company has a market cap of $548.44 million, a price-to-earnings ratio of 3.00 and a beta of 1.50. The firm’s fifty day moving average is $21.02 and its 200 day moving average is $27.33. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.78. Customers Bancorp has a 52-week low of $6.87 and a 52-week high of $45.34.

Institutional Trading of Customers Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of CUBI. Gyon Technologies Capital Management LP purchased a new stake in Customers Bancorp during the fourth quarter worth about $38,000. Wipfli Financial Advisors LLC acquired a new position in shares of Customers Bancorp during the third quarter worth about $82,000. Point72 Hong Kong Ltd grew its position in shares of Customers Bancorp by 25.2% during the third quarter. Point72 Hong Kong Ltd now owns 3,021 shares of the bank’s stock worth $89,000 after buying an additional 609 shares in the last quarter. Point72 Middle East FZE acquired a new position in shares of Customers Bancorp during the fourth quarter worth about $94,000. Finally, Captrust Financial Advisors boosted its holdings in Customers Bancorp by 38.9% in the first quarter. Captrust Financial Advisors now owns 3,761 shares of the bank’s stock valued at $196,000 after purchasing an additional 1,054 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Jay S. Sidhu bought 45,450 shares of the stock in a transaction on Monday, March 13th. The shares were bought at an average price of $11.00 per share, with a total value of $499,950.00. Following the purchase, the chief executive officer now directly owns 1,167,626 shares in the company, valued at approximately $12,843,886. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Daniel K. Rothermel purchased 5,000 shares of the stock in a transaction dated Monday, March 13th. The shares were purchased at an average price of $10.71 per share, with a total value of $53,550.00. Following the transaction, the director now owns 102,962 shares in the company, valued at approximately $1,102,723.02. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jay S. Sidhu purchased 45,450 shares of the stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost of $11.00 per share, for a total transaction of $499,950.00. Following the transaction, the chief executive officer now owns 1,167,626 shares in the company, valued at approximately $12,843,886. The disclosure for this purchase can be found here. 6.75% of the stock is currently owned by corporate insiders.

Customers Bancorp Company Profile

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Customers Bancorp, Inc engages in the provision of banking services through its subsidiary, Customers Bank. The firm also provides banking products such as loans and deposits to businesses and consumers through its branches, limited production, and administrative offices. The company was founded in 1997 and is headquartered in West Reading, PA.