Customers Bancorp (CUBI) Tops Q4 EPS by 2c, Offers Outlook

Customers Bancorp (NYSE: CUBI) reported Q4 EPS of $2.87, $0.02 better than the analyst estimate of $2.85.

Outlook:

“Looking ahead, we have sustainable core growth and are very optimistic about the prospects of our company. We expect strong core above average low-double-digit growth in loans and deposits, improving profitability, and an efficiency ratio in the low 40s through a combination of revenue growth and prudent expense management over the next two to three years. The best-in-class tech agility of Customers Bancorp allowed us to be a major participant in the PPP program, significantly improving our capital ratios. We also incubated new lines of businesses that leverage our fintech relationships. In 2021 we launched a private instant, blockchain-based B2B payments platform with integration of digital and legacy payment rails. The platform will deliver enhanced payments functionality for our business clients and is expected to generate additional deposit growth in targeted niches, such as real estate, monetary and currency exchanges and institutional investments. We've achieved significant accretion in our capital levels over the past 12 months and our credit quality is expected to remain in line with or better than peers. We project our core earnings (excluding PPP) to be between $4.75 - $5.00 in 2022 and well over $6.00 in 2023, two to three years ahead of our previous guidance of $6.00 by 2025/2026,” concluded Mr. Sidhu.

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

You May Also Be Interested In

• FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
• CVG to join Russell 2000 and Russell 3000 indexes June 26
• Cerebras Systems posts 94% revenue jump, announces OpenAI deal