We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Customers Bancorp (CUBI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Read MoreHide Full Article
For the quarter ended June 2024, Customers Bancorp (CUBI - Free Report) reported revenue of $198.69 million, up 9.6% over the same period last year. EPS came in at $1.49, compared to $1.65 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $185.31 million, representing a surprise of +7.22%. The company delivered an EPS surprise of +2.76%, with the consensus EPS estimate being $1.45.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 51.9% versus 52.7% estimated by five analysts on average.
Net Interest Margin: 3.3% compared to the 3.2% average estimate based on four analysts.
Average Interest-Earning Assets: $20.52 billion compared to the $21.01 billion average estimate based on four analysts.
Net charge-offs to average loans: 0.6% versus 0.6% estimated by two analysts on average.
Total Non-Interest Income: $31.04 million versus the five-analyst average estimate of $21.19 million.
Bank-owned life insurance: $2.01 million versus $2.93 million estimated by four analysts on average.
Net interest income tax equivalent: $168.05 million versus the four-analyst average estimate of $165.91 million.
Mortgage warehouse transactional fees: $1.06 million compared to the $1.15 million average estimate based on four analysts.
Net Interest Income: $167.65 million versus the four-analyst average estimate of $164.37 million.
Commercial lease income: $10.28 million versus $9.62 million estimated by four analysts on average.
Loan fees: $5.23 million compared to the $5.32 million average estimate based on four analysts.
Other Non Interest Income: $2.37 million versus $2.18 million estimated by two analysts on average.
Shares of Customers Bancorp have returned +30.4% over the past month versus the Zacks S&P 500 composite's -0.3% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Customers Bancorp (CUBI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2024, Customers Bancorp (CUBI - Free Report) reported revenue of $198.69 million, up 9.6% over the same period last year. EPS came in at $1.49, compared to $1.65 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $185.31 million, representing a surprise of +7.22%. The company delivered an EPS surprise of +2.76%, with the consensus EPS estimate being $1.45.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 51.9% versus 52.7% estimated by five analysts on average.
- Net Interest Margin: 3.3% compared to the 3.2% average estimate based on four analysts.
- Average Interest-Earning Assets: $20.52 billion compared to the $21.01 billion average estimate based on four analysts.
- Net charge-offs to average loans: 0.6% versus 0.6% estimated by two analysts on average.
- Total Non-Interest Income: $31.04 million versus the five-analyst average estimate of $21.19 million.
- Bank-owned life insurance: $2.01 million versus $2.93 million estimated by four analysts on average.
- Net interest income tax equivalent: $168.05 million versus the four-analyst average estimate of $165.91 million.
- Mortgage warehouse transactional fees: $1.06 million compared to the $1.15 million average estimate based on four analysts.
- Net Interest Income: $167.65 million versus the four-analyst average estimate of $164.37 million.
- Commercial lease income: $10.28 million versus $9.62 million estimated by four analysts on average.
- Loan fees: $5.23 million compared to the $5.32 million average estimate based on four analysts.
- Other Non Interest Income: $2.37 million versus $2.18 million estimated by two analysts on average.
View all Key Company Metrics for Customers Bancorp here>>>Shares of Customers Bancorp have returned +30.4% over the past month versus the Zacks S&P 500 composite's -0.3% 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.