Bancorp Customers (NYSE: CUBI – Get a rating) released an update to its fiscal 2022 earnings guidance Thursday morning. The company provided earnings per share (EPS) guidance of $4.75 to $5.00 for the period, compared to the consensus estimate of $7.56. The company released a revenue forecast of -.
NYSE: CUBI opened at $34.50 on Thursday. The company has a debt ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81. Bancorp customers have a fifty-two week minimum of $32.19 and a fifty-two week maximum of $76.13. The company has a market capitalization of $1.14 billion, a price-earnings ratio of 3.44 and a beta of 1.61. The stock has a fifty-day moving average price of $38.30 and a 200-day moving average price of $51.23.
Bancorp Customers (NYSE: CUBI – Get a rating) last released its quarterly results on Wednesday, April 27. The bank reported EPS of $2.19 for the quarter, beating analyst consensus estimates of $1.66 by $0.53. Customers Bancorp had a return on equity of 30.79% and a net margin of 40.14%. The company posted revenue of $185.90 million in the quarter, compared to $170.48 million expected by analysts. Research analysts predict that Customers Bancorp will post an EPS of 7.3 for the current fiscal year.
A number of brokerages have published reports on CUBI. Stephens began covering Customers Bancorp in a report on Monday, March 28. They issued an equal weight rating and target price of $62.50 for the company. StockNews.com supposed coverage of Customers Bancorp in a Thursday, March 31, research note. They issued a holding note for the company. Maxim Group reissued a buy rating and posted a price target of $85.00 on Customers Bancorp stock in a research note on Friday, April 29. B. Riley reduced his price target on Customers Bancorp from $100.00 to $90.00 in a Tuesday, April 12 research note. Finally, 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 rating of research from Monday, March 28. Four equity research analysts gave the stock a hold rating and five gave the company a buy rating. Based on data from MarketBeat.com, Customers Bancorp currently has a Moderate Buy consensus rating and an average target price of $72.36.
In other news, manager Lyle Cunningham sold 1,000 shares of the company in a deal that took place on Tuesday May 3. The stock was sold at an average price of $43.06, for a total value of $43,060.00. Following the transaction, the administrator now owns 11,051 shares of the company, valued at $475,856.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Additionally, CEO Samvir S. Sidhu purchased 2,965 shares of the company in a transaction dated Friday, May 6. The stock was purchased at an average price of $42.10 per share, for a total transaction of $124,826.50. Following the acquisition, the CEO now directly owns 80,637 shares of the company, valued at $3,394,817.70. Disclosure of this purchase can be found here. Insiders have purchased 4,465 shares of the company worth $186,912 over the past 90 days. Company insiders own 6.75% of the company’s shares.
Institutional investors and hedge funds have recently changed their stock holdings. Captrust Financial Advisors increased its position in Customers Bancorp by 38.9% in the first quarter. Captrust Financial Advisors now owns 3,761 shares of the bank worth $196,000 after buying 1,054 additional shares in the last quarter. Wellington Management Group LLP acquired a new stake in Customers Bancorp in the first quarter valued at $255,000. Point72 Hong Kong Ltd increased its position in Customers Bancorp by 1,062.7% in the first quarter. Point72 Hong Kong Ltd now owns 5,988 shares in the bank worth $312,000 after buying an additional 5,473 shares in the last quarter. Walleye Capital LLC bought a new stake in Customers Bancorp in the first quarter worth $361,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Customers Bancorp in the first quarter worth $497,000. 83.48% of the shares are held by institutional investors.
Clients Company Profile Bancorp (Get a rating)
Customers Bancorp, Inc operates as a banking holding company for Customers Bank which provides financial products and services to individuals and small and medium businesses. The Company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers lending products, including commercial warehouse mortgages, multifamily and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgages and installment loans.
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