Customers Bancorp (CUBI) Tops Q4 EPS by 8c, Comments on Outlook

Customers Bancorp (NASDAQ: CUBI) reported Q4 EPS of $0.58, $0.08 better than the analyst estimate of $0.50.

"Achieving earnings of $0.58 in the fourth quarter of 2015 is a tremendous accomplishment for the entire Customers team," said Bob Wahlman, Chief Financial Officer of Customers Bancorp, Inc. "Our team's accomplishment reflects the successful execution of the strategies we have adopted to achieve our performance targets of a return on assets around 1.0% and return on common equity of 12.0%. At this point, we are close to achieving the annual return on common equity performance target. The strong fourth quarter also puts us in a strong position to achieve our stated net income to common shareholders guidance of $2.40 to $2.50 from our core banking operations in 2016. Acquisition of the Higher One disbursement business, excluding anticipated one-time charges related to the acquisition and integration, is expected to be non-dilutive to our 2016 earnings and accretive to our 2017 earnings."

For earnings history and earnings-related data on Customers Bancorp (CUBI) click here.

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