Customers Bancorp (NYSE:CUBI) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Customers Bancorp (NYSE:CUBI) released its quarterly earnings data on Thursday. The bank reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.17, MarketWatch Earnings reports. The company had revenue of $114.22 million during the quarter, compared to analyst estimates of $108.09 million. Customers Bancorp had a net margin of 14.19% and a return on equity of 10.77%. Customers Bancorp updated its FY 2020
Pre-Market guidance to 3.00-3.00 EPS.

CUBI traded down $0.12 during mid-day trading on Friday, reaching $11.85. 263,942 shares of the stock were exchanged, compared to its average volume of 197,299. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.42. The stock has a market capitalization of $373.17 million, a PE ratio of 5.11 and a beta of 1.48. The company has a 50 day moving average price of $11.32 and a two-hundred day moving average price of $14.35. Customers Bancorp has a 1 year low of $8.36 and a 1 year high of $25.72.

Several analysts have recently weighed in on the stock. Maxim Group reiterated a “buy” rating and issued a $27.00 price objective on shares of Customers Bancorp in a research note on Friday. ValuEngine upgraded shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 2nd. Finally, Zacks Investment Research lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. Customers Bancorp has a consensus rating of “Hold” and a consensus price target of $17.67.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.

Read More: Why do analysts give a neutral rating?

Earnings History for Customers Bancorp (NYSE:CUBI)

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