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Customers Bancorp (CUBI) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Customers Bancorp (CUBI - Free Report) reported $217.55 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 45%. EPS of $2.59 for the same period compares to $2.48 a year ago.
The reported revenue represents a surprise of +19.34% over the Zacks Consensus Estimate of $182.29 million. With the consensus EPS estimate being $1.60, the EPS surprise was +61.87%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Customers Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 41% versus 49.5% estimated by four analysts on average.
Net Interest Margin: 3.7% compared to the 3.2% average estimate based on four analysts.
Average Interest-Earning Assets: $21.49 billion versus the four-analyst average estimate of $20.56 billion.
Net charge-offs to average loans: 0.5% compared to the 0.5% average estimate based on two analysts.
Bank-owned life insurance: $1.97 million compared to the $3.13 million average estimate based on four analysts.
Total Non-Interest Income: $17.78 million versus the four-analyst average estimate of $17.71 million.
Commercial lease income: $8.90 million versus $8.97 million estimated by three analysts on average.
Net interest income tax equivalent: $200.18 million versus the three-analyst average estimate of $164.75 million.
Mortgage warehouse transactional fees: $1.02 million compared to the $1.29 million average estimate based on three analysts.
Net Interest Income: $199.77 million versus the three-analyst average estimate of $162.99 million.
Loan fees: $6.03 million versus the two-analyst average estimate of $4.33 million.
Shares of Customers Bancorp have returned +1% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Customers Bancorp (CUBI) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Customers Bancorp (CUBI - Free Report) reported $217.55 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 45%. EPS of $2.59 for the same period compares to $2.48 a year ago.
The reported revenue represents a surprise of +19.34% over the Zacks Consensus Estimate of $182.29 million. With the consensus EPS estimate being $1.60, the EPS surprise was +61.87%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Customers Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 41% versus 49.5% estimated by four analysts on average.
- Net Interest Margin: 3.7% compared to the 3.2% average estimate based on four analysts.
- Average Interest-Earning Assets: $21.49 billion versus the four-analyst average estimate of $20.56 billion.
- Net charge-offs to average loans: 0.5% compared to the 0.5% average estimate based on two analysts.
- Bank-owned life insurance: $1.97 million compared to the $3.13 million average estimate based on four analysts.
- Total Non-Interest Income: $17.78 million versus the four-analyst average estimate of $17.71 million.
- Commercial lease income: $8.90 million versus $8.97 million estimated by three analysts on average.
- Net interest income tax equivalent: $200.18 million versus the three-analyst average estimate of $164.75 million.
- Mortgage warehouse transactional fees: $1.02 million compared to the $1.29 million average estimate based on three analysts.
- Net Interest Income: $199.77 million versus the three-analyst average estimate of $162.99 million.
- Loan fees: $6.03 million versus the two-analyst average estimate of $4.33 million.
View all Key Company Metrics for Customers Bancorp here>>>Shares of Customers Bancorp have returned +1% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.