Customers Bancorp (NYSE:CUBI) Releases Fiscal 2022 Earnings Forecast

Bancorp Customers (NYSE: CUBI – Get a rating) released an update to its fiscal 2022 earnings guidance Thursday morning. The company provided earnings per share (EPS) guidance of $4.75 to $5.00 for the period, compared to the consensus estimate of $7.56. The company released a revenue forecast of -.

NYSE: CUBI opened at $34.45 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt ratio of 0.15. Bancorp Clients has a 12-month low of $32.19 and a 12-month high of $76.13. The company has a market capitalization of $1.14 billion, a PE ratio of 3.44 and a beta of 1.58. The company has a 50-day simple moving average of $41.25 and a two-hundred-day simple moving average of $53.71.

CUBI has been the subject of several analyst reports. Stephens launched a hedge on Customers Bancorp stock in a Monday, March 28 research note. They set an evenly weighted quote and a price target of $62.50 on the stock. Maxim Group restated a buy rating and set a target price of $85.00 on Customers Bancorp stock in a Friday, April 29 research note. StockNews.com launched a hedge on Customers Bancorp stock in a Thursday, March 31 research note. They have set a holding rating on the stock. Keefe, Bruyette & Woods upgraded Customers Bancorp shares from a market performance rating to an outperform rating and raised its price target for the company from $72.00 to $80.00 in a rating of research from Monday, March 28. Finally, B. Riley lowered his price target on Customers Bancorp stock from $100.00 to $90.00 in a Tuesday, April 12 research note. Four investment analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat.com, Customers Bancorp currently has a buy consensus rating and an average target price of $72.36.

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Separately, CEO Samvir S. Sidhu bought 2,965 shares of the company in a deal that took place on Friday, May 6. The shares were purchased at an average cost of $42.10 per share, for a total transaction of $124,826.50. As a result of the acquisition, the CEO now owns 80,637 shares of the company, valued at approximately $3,394,817.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Additionally, Chief Financial Officer Carla A. Leibold purchased 1,000 shares of the company in a transaction that took place on Friday, May 6. The shares were purchased at an average price of $42.10 per share, for a total transaction of $42,100.00. Following the completion of the acquisition, the CFO now directly owns 68,348 shares of the company, valued at approximately $2,877,450.80. Disclosure of this purchase can be found here. Over the past 90 days, insiders have purchased 4,465 shares of the company worth $186,912. Insiders own 10.23% of the shares of the company.

A number of large investors have recently changed their stock holdings. Royal Bank of Canada increased its position in Customers Bancorp by 67.6% in the second quarter. Royal Bank of Canada now owns 2,358 shares of the bank valued at $92,000 after purchasing an additional 951 shares during the period. Captrust Financial Advisors increased its position in Customers Bancorp by 38.9% in the 1st quarter. Captrust Financial Advisors now owns 3,761 shares of the bank valued at $196,000 after purchasing an additional 1,054 shares during the period. Wellington Management Group LLP purchased a new stake in Customers Bancorp in Q1 worth approximately $255,000. Millennium Management LLC purchased a new stake in Customers Bancorp in Q2 valued at approximately $203,000. Finally, Point72 Hong Kong Ltd strengthened its position in Customers Bancorp by 1,062.7% in the 1st quarter. Point72 Hong Kong Ltd now owns 5,988 shares of the bank valued at $312,000 after buying an additional 5,473 shares during the period. Institutional investors hold 83.48% 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.

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Profit history and estimates for Bancorp customers (NYSE: CUBI)

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