Customers Bancorp, Inc. (NYSE: CUBI – Get a rating) – Wedbush raised its earnings per share (EPS) estimate for the second quarter of 2022 for Customers Bancorp in a report released Thursday, June 30. Wedbush analyst P. Winter now expects the bank to post earnings of $1.73 per share for the quarter, up from its previous forecast of $1.59. The consensus estimate of Customers Bancorp’s current annual earnings is $7.30 per share. Wedbush also released estimates for Customers Bancorp Q3 2022 earnings at $1.87 EPS, Q4 2022 earnings at $1.93 EPS, FY2022 earnings at $7.71 EPS, Q1 2023 earnings at $1.61 EPS, Q2 2023 earnings at $1.70 EPS, Q3 2023 earnings at $1.82 EPS, Q4 2023 earnings at $1.90 EPS and fiscal 2023 at $7.03 EPS.

Other stock analysts have also recently released reports on the stock. Stephens began covering Customers Bancorp shares in a Monday, March 28 report. They issued an “equal weight” rating and a target price of $62.50 for the company. B. Riley cut his target price on Customers Bancorp stock from $100.00 to $90.00 in a Tuesday, April 12 report. Maxim Group reiterated a “buy” rating and issued a price target of $85.00 on Customers Bancorp stock in a Friday, April 29 report. StockNews.com began covering Customers Bancorp shares in a Thursday, March 31 report. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods upgraded Customers Bancorp shares from a “market performance” rating to an “outperform” rating and increased their target price for the stock from $72.00 to 80, $00 in a Monday, March 28 report. Four investment analysts gave the stock a hold rating and five gave the stock a buy rating. According to MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Shares of Customers Bancorp opened at $34.70 on Monday. The company has a market capitalization of $1.14 billion, a PE ratio of 3.46 and a beta of 1.61. The company has a debt ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50-day simple moving average of $38.73 and a two-hundred-day simple moving average of $51.63. Bancorp Customers has a one-year minimum of $32.19 and a one-year maximum of $76.13. Bancorp Customers (NYSE: CUBI – Get a rating) last released its quarterly earnings data on Wednesday, April 27. The bank reported earnings per share of $2.19 for the quarter, beating the consensus estimate of $1.66 by $0.53. The company posted revenue of $185.90 million in the quarter, versus a consensus estimate of $170.48 million. Customers Bancorp had a return on equity of 30.79% and a net margin of 40.14%.

A number of hedge funds and other institutional investors have recently changed their stock holdings. Maryland State Retirement & Pension System increased its position in Customers Bancorp by 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 11,888 shares of the bank valued at $777,000 after buying 161 additional shares in the last quarter. Captrust Financial Advisors increased its position in Customers Bancorp by 9.0% in the third quarter. Captrust Financial Advisors now owns 2,801 shares of the bank worth $120,000 after buying 231 additional shares in the last quarter. Lazard Asset Management LLC strengthened its position in Customers Bancorp by 70.5% in the 4th quarter. Lazard Asset Management LLC now owns 687 shares of the bank worth $44,000 after buying 284 additional shares in the last quarter. Mutual of America Capital Management LLC increased its position in Customers Bancorp by 7.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 4,364 shares of the bank worth $228,000 after buying 290 more shares last quarter. Finally, Exchange Traded Concepts LLC strengthened its position in Customers Bancorp by 1.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 18,133 shares of the bank worth $1,185,000 after buying 292 more shares last quarter. Hedge funds and other institutional investors own 83.48% of the company’s shares.

In related news, director Lyle Cunningham sold 1,000 shares of the company in a trade 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 sale, the director now owns 11,051 shares of the company, valued at $475,856.06. The sale was disclosed in a legal filing with the SEC, which is available via this link. Additionally, CEO Samvir S. Sidhu purchased 2,965 shares of the company in a transaction that took place on Friday, May 6. The stock was purchased at an average price of $42.10 per share, for a total transaction of $124,826.50. As a result of the transaction, the CEO now owns 80,637 shares of the company, valued at $3,394,817.70. Disclosure of this purchase can be found here. In the past 90 days, insiders have purchased 4,465 shares of the company worth $186,912. Company insiders own 6.75% of the company’s shares.

About Bancorp Customers (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.

Recommended Stories

Profit History and Estimates for Bancorp Customers (NYSE: CUBI)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Customers Bancorp right now?

Before you consider Customers Bancorp, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Customers Bancorp was not on the list.

While Customers Bancorp currently has a “moderate buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here