Customers Bancorp (NYSE:CUBI) Issues FY20 Earnings Guidance
Customers Bancorp (NYSE:CUBI) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided EPS guidance of at least $3.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.71. Customers Bancorp also updated its FY 2019 guidance to $2.20 EPS.
Shares of CUBI stock traded up $0.93 on Friday, reaching $20.57. 253,309 shares of the stock were exchanged, compared to its average volume of 175,008. The stock has a market cap of $611.71 million, a PE ratio of 8.47, a P/E/G ratio of 1.01 and a beta of 1.02. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 1.77. The stock’s 50 day moving average price is $20.31. Customers Bancorp has a 1-year low of $16.72 and a 1-year high of $26.77.
Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $64.68 million during the quarter, compared to the consensus estimate of $64.51 million. Customers Bancorp had a return on equity of 9.54% and a net margin of 10.13%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 EPS. As a group, equities analysts forecast that Customers Bancorp will post 1.95 EPS for the current fiscal 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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