Bancorp, Inc. Clients to Post Fiscal 2022 Earnings of $7.75 Per Share, According to DA Davidson Forecast (NYSE: CUBI)
Bancorp, Inc. Customers (NYSE: CUBI – Get a rating) – DA Davidson analysts raised their earnings per share estimate for fiscal year 2022 for Customers Bancorp in a report released Tuesday, May 3. DA Davidson analyst R. Gunther now expects the bank to post earnings of $7.75 per share for the year, up from its previous estimate of $6.65.
Other analysts have also recently released reports on the stock. Maxim Group rephrased a “buy” rating and set a price target of $85.00 on Customers Bancorp shares in a Friday, April 29 research note. StockNews.com launched a hedge on Customers Bancorp stock in a Thursday, March 31 report. They have placed a “holding” rating on the stock. B. Riley cut his price target on Customers Bancorp stock from $100.00 to $90.00 in a Tuesday, April 12 report. Stephens launched a hedge on Customers Bancorp stock in a Monday, March 28 report. They set an “equal weight” rating and a target price of $62.50 on the stock. Finally, Keefe, Bruyette & Woods upgraded Customers Bancorp’s stock from a “market performance” rating to an “outperform” rating and increased its target price for the stock from $72.00 to 80, $00 in a Monday, March 28 report. Five equity research analysts gave the stock a hold rating and five gave the company a buy rating. Based on MarketBeat data, Customers Bancorp currently has a consensus rating of “Buy” and a consensus target price of $69.31.
CUBI stock opened at $45.29 on Thursday. Bancorp Clients has a 12-month low of $33.25 and a 12-month high of $76.13. The company has a market capitalization of $1.49 billion, a price-earnings ratio of 4.52 and a beta of 1.58. The company’s fifty-day simple moving average is $50.68 and its 200-day simple moving average is $56.92. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt ratio of 0.15.
In related news, manager Lyle Cunningham sold 1,000 shares in a trade on Tuesday, May 3. The shares were sold at an average price of $43.06, for a total transaction of $43,060.00. Following the transaction, the director now owns 11,051 shares of the company, valued at approximately $475,856.06. The transaction was disclosed in a legal filing with the SEC, which is available via the SEC website. 10.23% of the shares are held by insiders.
Hedge funds have recently increased or reduced their holdings in the stock. Kings Point Capital Management bought a new position in Customers Bancorp stock during Q3 for $31,000. Point72 Hong Kong Ltd acquired a new stake in Customers Bancorp during the 4th quarter worth $34,000. Lazard Asset Management LLC increased its position in Customers Bancorp by 70.5% during the 4th quarter. Lazard Asset Management LLC now owns 687 shares of the bank valued at $44,000 after purchasing an additional 284 shares during the period. National Bank of Canada FI acquired a new stake in Customers Bancorp during the 4th quarter for a value of $87,000. Finally, Point72 Asset Management LP acquired a new stake in Customers Bancorp during the 4th quarter at a value of $92,000. 83.48% of the shares are currently held by institutional investors.
Clients Company Profile Bancorp (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.
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