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CUBI

Customers Bancorp

$22.72

0.9 (4.12%)

14:32
10/15/18
10/15
14:32
10/15/18
14:32

Customers Bancorp says Q3 EPS hurt 41c by notable items

In presentation slides shared in a regulatory filing, Customers Bancorp disclosed a $14.2M after-tax loss on $495M of securities sold in the third quarter and a $0.9M after-tax net gain on discontinuing cash flow hedge and equity security impairments. These notable items reduced Q3 net income by approximately $13.3M and EPS by about 41c, the slides state. Q3 deposits grew by $1.2B and NIM "remained under pressure" in Q3, the slides add. The bank ended Q3 with $10.62B in assets and is below $10.2B today, Customers Bancorp said, adding, "We plan to stay under $10B in assets" in a slide titled "What will CUBI Look Like in 3 Years?"

  • 15

    Oct

  • 26

    Oct

CUBI Customers Bancorp
$22.72

0.9 (4.12%)

10/15/18
SDLR
10/15/18
UPGRADE
Target $26.5
SDLR
Buy
Customers Bancorp upgraded to Buy from Hold at Sandler O'Neill
Sandler O'Neill analyst Frank Schiraldi upgraded Customers Bancorp to Buy with a $26.50 price target. With the stock now trading below tangible book and the company delivering a "positive earnings stream" with "no obvious industry credit concerns on the horizon," Customers offers a good risk/reward profile at current levels, Schiraldi tells investors in a research note.
02/14/18
02/14/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Hershey (HSY) reinstated with a Neutral at JPMorgan. 2. Customers Bancorp (CUBI) initiated with a Neutral at DA Davidson. 3. Restoration Robotics (HAIR) initiated with a Buy at Craig-Hallum. 4. Nuvectra (NVTR) initiated with an Outperform at JMP Securities. 5. Endo (ENDP) initiated with a Buy at B. Riley FBR. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
02/14/18
DADA
02/14/18
INITIATION
Target $33
DADA
Neutral
Customers Bancorp initiated with a Neutral at DA Davidson
DA Davidson analyst Russell Gunther initiated Customers Bancorp with a price target of $33, saying the bank has grown organically at a 39% annual rate since its 2012 IPO. The analyst notes that following a write-down of Religare and spin-off of BankMobile in the second of half of this year. Customers Bancorp will "shine" and capture a "valuation re-rate" as its profitability ratios approach peer levels. Gunther keeps his Neutral rating, warning there is some uncertainty overhang around the timing of BankMobile spin-off.
12/08/17
RILY
12/08/17
INITIATION
Target $35
RILY
Buy
Customers Bancorp resumed with a Buy at B. Riley FBR
B. Riley FBR resumed coverage of Customers Bancorp with a Buy rating and $35 price target.

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SAVE

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