Customers Bancorp Inc (CUBI) reported quarterly earnings results on Thursday, Apr-14-2016. The company said it had a profit of $0.57 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.55. The company posted revenue of $57.60 million in the period, compared to analysts expectations of $56.06 million. The company’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.
Customers Bancorp Inc opened for trading at $22.72 and hit $23.315 on the upside on Monday, eventually ending the session at $22.95, with a gain of 1.37% or 0.31 points. The heightened volatility saw the trading volume jump to 1,30,436 shares. Company has a market cap of $618 M.
In a different news, on Mar 18, 2016, Glenn Hedde (Pres Mortgage WarehouseLending) sold 19,868 shares at $23.24 per share price. According to the SEC, on Jun 1, 2015, Robert E. Wahlman (CFO) purchased 17,000 shares at $25.08 per share price. On Feb 3, 2015, Jay S Sidhu (CEO) purchased 24,340 shares at $20.52 per share price, according to the Form-4 filing with the securities and exchange commission.
Customers Bancorp Inc. (Customers Bancorp) is a bank holding company engaged in banking activities through its wholly owned subsidiary Customers Bank (the Bank). Customers Bancorp provides financial products and services to small businesses not-for-profits and consumers. Customers Bancorp serves residences and businesses in Southeastern Pennsylvania Rye New York Hamilton New Jersey Boston Massachusetts and Providence among others. It offers a range of traditional loan and deposit banking products and financial services. The Bank offers a range of lending products including small business loans mortgage warehouse loans multi-family and commercial real estate loans residential mortgage loans and other consumer loans. The Bank also offers traditional depository products including commercial and consumer checking accounts non-interest-bearing demand accounts money market deposit accounts savings accounts and time deposit accounts and cash management services.