Customers Bancorp (NYSE:CUBI) Releases FY19 Earnings Guidance
Customers Bancorp (NYSE:CUBI) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of exceed $2.20 for the period, compared to the Thomson Reuters consensus estimate of $2.03. Customers Bancorp also updated its FY 2019 guidance to $2.20 EPS.
Shares of CUBI traded up $0.93 during mid-day trading on Friday, hitting $20.57. 253,309 shares of the company’s stock traded hands, compared to its average volume of 175,008. 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. The stock has a market cap of $611.71 million, a price-to-earnings ratio of 8.47, a P/E/G ratio of 1.01 and a beta of 1.02. The business has a 50-day simple moving average of $20.31.
Customers Bancorp (NYSE:CUBI) last posted its earnings results on Wednesday, July 24th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. Customers Bancorp had a return on equity of 9.54% and a net margin of 10.13%. The firm had revenue of $64.68 million for the quarter, compared to analysts’ expectations of $64.51 million. During the same period in the previous year, the firm earned $0.73 earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. Equities research analysts forecast that Customers Bancorp will post 1.95 EPS for the current 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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