|Bid||0.00 x N/A|
|Ask||0.00 x N/A|
|Day's range||0.00 - 0.00|
|Beta (5Y monthly)||1.58|
|PE ratio (TTM)||0.03|
|Earnings date||25 Apr 2023 - 01 May 2023|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
The bank has struggled due to near-term headwinds this year, particularly as it relates to its funding costs, which soared higher in the fourth quarter. While the market may have given up on Customers, the bank still plans to generate solid returns this year, and management has never been more bullish on the stock. The bank also has a real-time payments network and is working to develop its banking-as-a-service vertical and further digital lending capabilities to consumers and small businesses.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Customers Bancorp (NYSE: CUBI) saw its share price fall 9.8% this week, as of 1:15 p.m. ET, from last Friday's close, according to S&P Global Market Intelligence. The downward movement of Customers Bancorp, the holding company for West Reading, Pennsylvania-based Customers Bank, was due mainly to the release of its fourth quarter and year-end earnings on Jan. 25. Core earnings, a non-GAAP metric the bank uses, adjusted for nonrecurring items, were $39.4 million in the fourth quarter, off 61% from Q4 2021.