Customers Bancorp (NYSE:CUBI) Releases FY 2020 Pre-Market Earnings Guidance

Customers Bancorp (NYSE:CUBI) updated its FY 2020
Pre-Market earnings guidance on Thursday. The company provided earnings per share guidance of 3.00-3.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.08.

A number of research firms have issued reports on CUBI. ValuEngine upgraded Customers Bancorp from a strong sell rating to a sell rating in a report on Thursday, July 2nd. Maxim Group restated a buy rating and issued a $27.00 price objective on shares of Customers Bancorp in a report on Friday. Finally, Zacks Investment Research cut Customers Bancorp from a hold rating to a sell rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $17.67.

Shares of NYSE:CUBI opened at $11.85 on Friday. Customers Bancorp has a 52-week low of $8.36 and a 52-week high of $25.72. The company has a market capitalization of $373.17 million, a P/E ratio of 5.11 and a beta of 1.48. The company has a 50-day simple moving average of $11.32 and a 200 day simple moving average of $14.35. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.42.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, July 30th. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.17. The firm had revenue of $114.22 million during the quarter, compared to the consensus estimate of $108.09 million. Customers Bancorp had a net margin of 14.19% and a return on equity of 10.77%. As a group, equities analysts forecast that Customers Bancorp will post 3 earnings per share for the current year.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.

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

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