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Customers Bancorp (CUBI) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, Customers Bancorp (CUBI - Free Report) reported revenue of $181.27 million, up 2.1% over the same period last year. EPS came in at $1.65, compared to $1.77 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $169.7 million, representing a surprise of +6.82%. The company delivered an EPS surprise of +16.20%, with the consensus EPS estimate being $1.42.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 49.25% compared to the 47.83% average estimate based on three analysts.
Average Interest-Earning Assets: $20.80 billion compared to the $20.37 billion average estimate based on three analysts.
Net Interest Margin: 3.15% versus 2.94% estimated by three analysts on average.
Total Non-Interest Income: $16 million compared to the $18.06 million average estimate based on three analysts.
Net Interest Income: $165.27 million compared to the $148.74 million average estimate based on three analysts.
Bank-owned life insurance: $5 million compared to the $2.61 million average estimate based on three analysts.
Mortgage warehouse transactional fees: $1.38 million versus $1.08 million estimated by two analysts on average.
Commercial lease income: $8.92 million compared to the $9.15 million average estimate based on two analysts.
Net interest income tax equivalent: $165.66 million compared to the $151.65 million average estimate based on two analysts.
Shares of Customers Bancorp have returned +36.1% over the past month versus the Zacks S&P 500 composite's +5.6% 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.
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Customers Bancorp (CUBI) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Customers Bancorp (CUBI - Free Report) reported revenue of $181.27 million, up 2.1% over the same period last year. EPS came in at $1.65, compared to $1.77 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $169.7 million, representing a surprise of +6.82%. The company delivered an EPS surprise of +16.20%, with the consensus EPS estimate being $1.42.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 49.25% compared to the 47.83% average estimate based on three analysts.
- Average Interest-Earning Assets: $20.80 billion compared to the $20.37 billion average estimate based on three analysts.
- Net Interest Margin: 3.15% versus 2.94% estimated by three analysts on average.
- Total Non-Interest Income: $16 million compared to the $18.06 million average estimate based on three analysts.
- Net Interest Income: $165.27 million compared to the $148.74 million average estimate based on three analysts.
- Bank-owned life insurance: $5 million compared to the $2.61 million average estimate based on three analysts.
- Mortgage warehouse transactional fees: $1.38 million versus $1.08 million estimated by two analysts on average.
- Commercial lease income: $8.92 million compared to the $9.15 million average estimate based on two analysts.
- Net interest income tax equivalent: $165.66 million compared to the $151.65 million average estimate based on two analysts.
View all Key Company Metrics for Customers Bancorp here>>>Shares of Customers Bancorp have returned +36.1% over the past month versus the Zacks S&P 500 composite's +5.6% 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.