Bancorp, Inc. (NYSE: CUBI) Clients Expected to Earn $1.71 Per Share in Q3 2022
Customers Bancorp, Inc. (NYSE: CUBI – Get a rating) – Investment analysts DA Davidson released their third quarter 2022 earnings per share estimates for Customers Bancorp in a research report delivered to clients and investors on Tuesday, August 9. DA Davidson analyst Navas expects the bank to earn $1.71 per share for the quarter. DA Davidson has a “Neutral” rating on the stock. The consensus estimate of Customers Bancorp’s current annual earnings is $7.56 per share. DA Davidson also released estimates of Customers Bancorp’s earnings for fiscal year 2022 at EPS $7.30.
CUBI has been the subject of several other reports. Jefferies Financial Group cut its price target on Customers Bancorp from $63.00 to $48.00 in a Monday, July 11 report. Stephens cut its price target on Customers Bancorp from $54.00 to $52.00 and set an “equal weight” rating on the stock in a Tuesday, August 2 report. B. Riley reduced his price target on Customers Bancorp from $90.00 to $85.00 in a Monday, July 11 report. Finally, Maxim Group reiterated a “buy” rating and issued a price target of $85.00 on Customers Bancorp stock in a Friday, April 29 report. Four equity research analysts rated the stock with a hold rating and five gave the company a buy rating. According to MarketBeat.com, Customers Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $69.57.
Bancorp customers trading up 1.7%
CUBI stock traded at $0.62 midday Wednesday, hitting $37.61. 529 shares of the company were traded, against an average volume of 445,600. Clients Bancorp has a 52-week low of $32.19 and a 52-week high of $76.13. The company has a debt ratio of 0.67, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50-day moving average of $36.50 and a 200-day moving average of $45.98. The company has a market capitalization of $1.24 billion, a price-earnings ratio of 3.71 and a beta of 1.60.
Bancorp Customers (NYSE: CUBI – Get a rating) last released its quarterly earnings data on Wednesday, July 27. The bank reported earnings per share (EPS) of $1.68 for the quarter, missing analyst consensus estimates of $1.76 per ($0.08). Clients Bancorp had a net margin of 38.56% and a return on equity of 29.54%. During the same period of the previous year, the company achieved EPS of $1.76.
Institutional entries and exits
Hedge funds and other institutional investors have recently been buying and selling shares of the company. Point72 Hong Kong Ltd acquired a new stake in Customers Bancorp during the 4th quarter worth $34,000. Meeder Asset Management Inc. acquired a new stake in Customers Bancorp stock in Q1 worth $39,000. Lazard Asset Management LLC increased its position in Customers Bancorp shares 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. KBC Group NV acquired a new equity stake in Customers Bancorp in the 2nd quarter for a value of $89,000. Finally, Point72 Asset Management LP bought a new position in Customers Bancorp in Q4 worth $92,000. Institutional investors hold 83.48% of the company’s shares.
About Bancorp Customers
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.
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