Customers Bancorp (NYSE:CUBI) Issues Earnings Results, Beats Expectations By $0.15 EPS

Customers Bancorp (NYSE:CUBI) issued its earnings results on Thursday. The bank reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.15, Zacks reports. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%.

Customers Bancorp Trading Up 0.2 %

NYSE:CUBI traded up $0.09 on Thursday, hitting $50.22. The stock had a trading volume of 659,737 shares, compared to its average volume of 341,230. The company has a fifty day moving average price of $51.46 and a two-hundred day moving average price of $50.95. Customers Bancorp has a 1-year low of $42.31 and a 1-year high of $68.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 8.15 and a beta of 1.68.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. B. Riley lifted their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Raymond James dropped their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, October 2nd. Stephens lifted their price objective on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.22.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 860 shares of Customers Bancorp stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $54.73, for a total value of $47,067.80. Following the completion of the sale, the chief executive officer now owns 1,189,738 shares in the company, valued at approximately $65,114,360.74. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Neil Mackay sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total value of $215,120.00. Following the transaction, the director now owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. This represents a 46.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,440 shares of company stock worth $5,425,815. Company insiders own 6.92% of the company’s stock.

Customers Bancorp Company Profile

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.