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Customers Bancorp (CUBI)
NYSE:CUBI
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.19Last Year’s EPS
$1.79Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: 3.43%
|Next Earnings Date:Jan 22, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with strong deposit and loan growth, success in venture banking, and improved credit quality. However, challenges such as a decline in net interest margin, elevated noninterest expenses, and regulatory issues were also highlighted.Company Guidance
In the Customers Bancorp Q3 2024 earnings call, the guidance emphasized several key metrics and strategic priorities. The company reported core earnings per share of $1.34, net income of $43.8 million, and a return on average assets of 89 basis points. The management highlighted a 16% annualized loan growth and 9% deposit growth, focusing on transforming the deposit franchise by replacing higher-cost deposits with higher-quality ones. The tangible book value increased to nearly $53 per share, reflecting an 18% annualized growth. Despite a decline in the reported net interest margin to 3.06%, the base NIM remained stable, with expectations of expansion driven by deposit transformation and net interest income growth in 2025. The company also maintained robust liquidity metrics, with a non-performing asset ratio improving to 22 basis points, and announced plans for continued investment in technology and risk management infrastructure to enhance operational efficiency.Strong Deposit and Loan Growth
The company reported strong high-quality diversified loan growth at an annualized pace of 16%, and deposits increased by 9% annualized. Gross deposit inflows were $1.1 billion, showcasing the positive momentum in transforming the deposit franchise.
Venture Banking Success
The venture banking vertical became a nearly $1 billion business, proving the effectiveness of team lift-out capabilities. The platform is self-funded and aims for a 2:1 deposit-to-loan ratio over time.
Improved Credit Quality
Credit quality remained strong with improvements in key metrics. The NPA ratio improved to 22 basis points, and special mention and substandard loans declined.
Tangible Book Value Growth
Tangible book value increased to about $53 per share, reflecting an 18% annualized growth rate, marking the sixth consecutive quarter of double-digit growth.
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CUBI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CUBI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $46.13 | $45.68 | -0.98% |
| Jul 25, 2024 | $64.05 | $66.85 | +4.37% |
| Apr 25, 2024 | $49.53 | $46.82 | -5.47% |
| Jan 25, 2024 | $52.59 | $54.43 | +3.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Customers Bancorp (CUBI) report earnings?
Customers Bancorp (CUBI) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Customers Bancorp (CUBI) earnings time?
Customers Bancorp (CUBI) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CUBI EPS forecast?
CUBI EPS forecast for the fiscal quarter 2024 (Q4) is $1.19.
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