Customers Bancorp Inc reports results for the quarter ended in June - Earnings Summary

Customers Bancorp

26/07/2024 20:37

* Customers Bancorp Inc  CUBI.N  reported quarterly adjusted
earnings of $1.66​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of $1.39.  The mean expectation of ten analysts for
the quarter was for earnings of $1.43 per share. Wall Street
expected results to range from $1.27  to $1.82 per share.
    * Revenue rose 1.4% to $167.65 million from a year ago;
analysts
expected $164.48 million. 
    * Customers Bancorp Inc's reported EPS for the quarter was
$1.66​.
    * The company reported quarterly net income of $54.3
million.
    * Customers Bancorp Inc shares had risen by 33.5% this
quarter and
gained 11.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 12.6%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Customers Bancorp
Inc is $68.00 
This summary was machine generated from LSEG data July 26 at
07:37 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      1.43           1.66           Beat
 Mar. 31 2024      1.63           1.40           Missed
 Dec. 31 2023      1.72           1.79           Beat
 Sep. 30 2023      1.59           2.58           Beat