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

Customers Bancorp

26/04/2024 02:30

* Customers Bancorp Inc  CUBI.N  reported quarterly adjusted
earnings of $1.40​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of $1.55.  The mean expectation of ten analysts for the
quarter was for earnings of $1.63 per share. Wall Street
expected results to range from $1.55  to $1.70 per share.
    * Revenue rose 7% to $160.39 million from a year ago;
analysts
expected $167.86 million. 
    * Customers Bancorp Inc's reported EPS for the quarter was
$1.40​.
    * The company reported quarterly net income of $45.93
million.
    * Customers Bancorp Inc shares had fallen by 5.6% this
quarter and
lost 13.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.1%
in the last three months.​ 
    * In the last 30 days, five 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 $66.50 
This summary was machine generated from LSEG data April 26 at
01:30 a.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
 Mar. 31 2024      1.63           1.40           Missed
 Dec. 31 2023      1.72           1.79           Beat
 Sep. 30 2023      1.59           2.58           Beat
 Jun. 30 2023      1.46           1.39           Missed