B. Riley Reduces Earnings Estimates for Customers Bancorp

Customers Bancorp, Inc. (NYSE:CUBI) – Investment analysts at B. Riley decreased their Q4 2024 earnings per share estimates for shares of Customers Bancorp in a report released on Monday, November 4th. B. Riley analyst H. Goetsch now forecasts that the bank will post earnings of $1.39 per share for the quarter, down from their previous estimate of $1.70. B. Riley currently has a “Buy” rating and a $80.00 price target on the stock. The consensus estimate for Customers Bancorp’s current full-year earnings is $6.11 per share. B. Riley also issued estimates for Customers Bancorp’s FY2025 earnings at $7.23 EPS.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The firm had revenue of $167.10 million for the quarter, compared to the consensus estimate of $191.61 million. During the same quarter in the prior year, the firm earned $2.59 earnings per share. The company’s revenue was down 23.2% on a year-over-year basis.

Several other research analysts have also issued reports on CUBI. Piper Sandler dropped their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday. StockNews.com lowered Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Monday. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. DA Davidson upped their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Raymond James cut their price objective on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $61.88.

Customers Bancorp Stock Performance

NYSE CUBI opened at $46.46 on Wednesday. Customers Bancorp has a twelve month low of $40.61 and a twelve month high of $68.49. The stock has a market cap of $1.47 billion, a P/E ratio of 7.54 and a beta of 1.61. The company’s 50-day simple moving average is $47.09 and its 200 day simple moving average is $48.92. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78.

Insiders Place Their Bets

In related news, CEO Samvir S. Sidhu acquired 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the acquisition, the chief executive officer now directly owns 144,504 shares of the company’s stock, valued at approximately $6,579,267.12. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.92% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ridgewood Investments LLC acquired a new stake in Customers Bancorp in the second quarter valued at $48,000. GAMMA Investing LLC lifted its stake in Customers Bancorp by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after purchasing an additional 282 shares during the last quarter. Innealta Capital LLC bought a new position in Customers Bancorp during the second quarter worth about $74,000. CWM LLC increased its position in Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after buying an additional 274 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Customers Bancorp during the second quarter worth approximately $151,000. 89.29% of the stock is owned by institutional investors.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.