Bancorp, Inc. (NYSE: CUBI) Expected to Report Quarterly Sales of $170.48 Million


Brokerages expect clients Bancorp, Inc. (NYSE: CUBIGet a rating) to announce sales of $170.48 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have released earnings estimates for Customers Bancorp, with estimates ranging from $157.05 million to $200.60 million. Customers Bancorp reported sales of $151.20 million in the same quarter last year, indicating a positive year-over-year growth rate of 12.8%. The company is expected to release its next results after the market closes on Monday, January 1.

On average, analysts expect Customers Bancorp to report annual sales of $704.06 million for the current fiscal year, with estimates ranging from $687.70 million to $736.30 million. For next year, analysts expect the company to post sales of $699.68 million, with estimates ranging from $678.00 million to $733.52 million. Zacks Investment Research sales calculations are an average based on a survey of analysts who follow Customers Bancorp.

Bancorp Customers (NYSE: CUBIGet a rating) last announced its results on Monday, January 24. The bank reported earnings per share of $2.92 for the quarter, missing the Zacks consensus estimate of $2.94 per ($0.02). The company posted revenue of $210.69 million for the quarter, versus a consensus estimate of $225.40 million. Clients Bancorp had a return on equity of 32.38% and a net margin of 36.64%. In the same quarter last year, the company posted EPS of $1.65.

CUBI has been the subject of a number of recent research reports. Maxim Group raised its price target on Customers Bancorp from $75.00 to $85.00 in a research note on Wednesday, January 26. Keefe, Bruyette & Woods upgraded Customers Bancorp from a “market performance” rating to an “outperform” rating and raised their price target for the stock from $72.00 to $80.00 in a research note from Monday, March 28. B. Riley lowered his price target on Customers Bancorp from $100.00 to $90.00 in a Tuesday, April 12 research note. Wedbush raised its price target on Customers Bancorp from $75.00 to $80.00 in a research note on Wednesday, January 26. Finally, Stephens launched coverage on Customers Bancorp in a research note on Monday, March 28. They set an “equal weight” rating and a price target of $62.50 on the stock. Five equity research analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat, Customers Bancorp currently has a consensus rating of “Buy” and an average target price of $69.31.

Several hedge funds have recently bought and sold shares of the company. Maryland State Retirement & Pension System increased its holdings of Customers Bancorp stock 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 11,888 shares of the bank worth $777,000 after acquiring 161 additional shares in the last quarter. Captrust Financial Advisors increased its stake in Customers Bancorp shares by 9.0% in the third quarter. Captrust Financial Advisors now owns 2,801 shares of the bank valued at $120,000 after buying 231 additional shares during the period. Lazard Asset Management LLC increased its stake in Customers Bancorp shares by 70.5% in the fourth 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. Exchange Traded Concepts LLC increased its stake in Customers Bancorp stock by 1.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 18,133 shares of the bank valued at $1,185,000 after purchasing an additional 292 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Customers Bancorp shares by 3.7% in the third quarter. Two Sigma Advisers LP now owns 8,400 shares of the bank valued at $361,000 after purchasing an additional 300 shares during the period. 83.73% of the shares are held by hedge funds and other institutional investors.

Shares of NYSE CUBI opened at $44.08 on Monday. The company’s 50-day moving average is $55.36 and its 200-day moving average is $57.04. Bancorp Customers has a 1-year minimum of $29.17 and a 1-year maximum of $76.13. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt ratio of 0.72. The company has a market capitalization of $1.45 billion, a P/E ratio of 4.98 and a beta of 1.54.

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.

Further reading

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



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