Customers Bancorp (NYSE:CUBI) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.20 for the period, compared to the Thomson Reuters consensus estimate of $2.03. Customers Bancorp also updated its FY 2020 guidance to $3.00 EPS.

Shares of Customers Bancorp stock traded up $0.93 during trading on Friday, hitting $20.57. The stock had a trading volume of 253,309 shares, compared to its average volume of 175,008. The stock’s 50 day simple moving average is $20.31. The stock has a market cap of $611.71 million, a P/E ratio of 10.28, a PEG ratio of 1.01 and a beta of 1.02. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 1.77. 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 earnings results on Wednesday, July 24th. The bank reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The business had revenue of $64.68 million for the quarter, compared to the consensus estimate of $64.51 million. Customers Bancorp had a net margin of 10.13% and a return on equity of 9.54%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. On average, sell-side analysts predict that Customers Bancorp will post 1.95 earnings per share for the current year.

A number of research analysts recently commented on CUBI shares. Maxim Group reaffirmed a buy rating and set a $25.00 price objective on shares of Coherus Biosciences in a research report on Wednesday, July 10th. ValuEngine downgraded shares of Wave Life Sciences from a buy rating to a hold rating in a research report on Tuesday, April 16th. B. Riley set a $30.00 price objective on shares of Customers Bancorp and gave the company a buy rating in a research report on Tuesday, May 14th. Zacks Investment Research downgraded shares of Farmland Partners from a hold rating to a sell rating in a research report on Friday, July 12th. Finally, Sandler O’Neill downgraded shares of Customers Bancorp from a buy rating to a hold rating in a research report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $28.15.

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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Earnings History and Estimates for Customers Bancorp (NYSE:CUBI)

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