$173.09 million in sales expected for Bancorp, Inc. (NYSE: CUBI) customers this quarter

Wall Street analysts expect Customers Bancorp, Inc. (NYSE:CUBI – Get a rating) to announce sales of $173.09 million for the current quarter, Zacks reports. Four analysts provided earnings estimates for Customers Bancorp. The lowest sales estimate is $164.80 million and the highest is $179.45 million. Customers Bancorp reported sales of $155.58 million in the same quarter last year, indicating a positive year-over-year growth rate of 11.3%. The company is expected to announce its next earnings report on Monday, January 1.

On average, analysts expect Customers Bancorp to report annual revenue of $719.66 million for the current fiscal year, with estimates ranging from $703.39 million to $754.95 million. of dollars. For the next fiscal year, analysts expect the company to report sales of $705.09 million, with estimates ranging from $642.30 to $769.41 million. Zacks sales averages are an average based on a survey of sell-side analysts who provide coverage for Customers Bancorp.

A number of analysts have weighed in on CUBI shares recently. Zacks Investment Research upgraded Customers Bancorp stock from a “hold” rating to a “buy” rating and set a price target of $48.00 for the company in a research note on Friday, May 6. Stephens launched a hedge on Customers Bancorp stock in a Monday, March 28 research note. They issued an “equal weight” rating and a price target of $62.50 for the company. StockNews.com launched a hedge on Customers Bancorp stock in a Thursday, March 31 research note. They set a “hold” rating for the company. Maxim Group reiterated a “buy” rating and set a target price of $85.00 on Customers Bancorp stock in a Friday, April 29 research note. Finally, Keefe, Bruyette & Woods downgraded Customers Bancorp shares from a “market performance” rating to an “outperform” rating and raised its target price for the company from $72.00 to $80.00. $ in a research note from Monday, March 28. Four analysts gave the stock a hold rating and six gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $69.31.

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In other news, manager Lyle Cunningham sold 1,000 shares in a trade on Tuesday, May 3. The shares were sold at an average price of $43.06, for a total value of $43,060.00. Following completion of the transaction, the administrator now owns 11,051 shares of the company, valued at approximately $475,856.06. The sale was disclosed in an SEC filing, available at this link. Additionally, CEO Samvir S. Sidhu purchased 2,965 shares in a trade dated Friday, May 6. The shares were purchased at an average cost of $42.10 per share, for a total transaction of $124,826.50. Following the acquisition, the CEO now owns 80,637 shares of the company, valued at approximately $3,394,817.70. Disclosure of this purchase can be found here. Over the past 90 days, insiders have purchased 4,465 shares of the company valued at $186,912. Company insiders own 10.23% of the company’s shares.

Institutional investors and hedge funds have recently been buying and selling shares of the company. American Century Companies Inc. increased its holdings of Customers Bancorp stock by 33.2% in the third quarter. American Century Companies Inc. now owns 93,352 shares of the bank worth $4,016,000 after purchasing an additional 23,285 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Customers Bancorp by 70.5% during the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank worth $44,000 after acquiring 284 additional shares in the last quarter. EAM Global Investors LLC increased its holdings in Customers Bancorp by 50.9% during the 4th quarter. EAM Global Investors LLC now owns 75,980 shares of the bank worth $4,967,000 after acquiring an additional 25,625 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Customers Bancorp during Q3 for approximately $209,000. Finally, USA Financial Portformulas Corp increased its stake in Customers Bancorp by 30.2% during the 4th quarter. USA Financial Portformulas Corp now owns 2,001 shares of the bank worth $131,000 after acquiring 464 more shares in the last quarter. 83.48% of the shares are currently held by institutional investors and hedge funds.

CUBI stock opened at $41.17 on Friday. The company has a 50-day moving average of $44.85 and a two-hundred-day moving average of $55.42. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt ratio of 0.15. Bancorp Clients has a 12-month low of $34.55 and a 12-month high of $76.13. The company has a market capitalization of $1.36 billion, a price-earnings ratio of 4.11 and a beta of 1.58.

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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