Customers Bancorp, Inc (NYSE:CUBI) posted its earnings results on Tuesday. The bank reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04), Bloomberg Earnings reports. Customers Bancorp had a net margin of 22.81% and a return on equity of 15.93%. During the same quarter last year, the company earned $0.64 EPS.
Shares of Customers Bancorp (NYSE CUBI) traded down 1.36% on Wednesday, hitting $30.57. 418,657 shares of the company’s stock were exchanged. The stock has a market cap of $939.42 million, a price-to-earnings ratio of 12.50 and a beta of 0.67. Customers Bancorp has a 12-month low of $24.68 and a 12-month high of $36.93. The company’s 50-day moving average price is $31.07 and its 200 day moving average price is $29.59.
CUBI has been the subject of a number of research reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 target price on shares of Customers Bancorp in a research report on Friday, June 30th. BidaskClub downgraded shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 16th. Zacks Investment Research upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Monday, July 31st. Boenning Scattergood downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating in a research report on Friday, October 20th. Finally, Maxim Group reiterated a “buy” rating and issued a $50.00 price objective on shares of Customers Bancorp in a research report on Friday, October 20th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $40.50.
About Customers Bancorp
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).