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Customers Bancorp (CUBI) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended December 2023, Customers Bancorp (CUBI - Free Report) reported revenue of $191.18 million, up 34.2% over the same period last year. EPS came in at $1.90, compared to $1.19 in the year-ago quarter.
The reported revenue represents a surprise of +1.76% over the Zacks Consensus Estimate of $187.87 million. With the consensus EPS estimate being $1.76, the EPS surprise was +7.95%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 49.1% versus 47.6% estimated by four analysts on average.
Average Interest-Earning Assets: $20.80 billion compared to the $21.20 billion average estimate based on four analysts.
Net Interest Margin: 3.3% versus 3.2% estimated by four analysts on average.
Net charge-offs to average loans: 0.5% compared to the 0.6% average estimate based on two analysts.
Total Non-Interest Income: $18.67 million versus the five-analyst average estimate of $18.40 million.
Bank-owned life insurance: $2.16 million versus the four-analyst average estimate of $2.13 million.
Net interest income tax equivalent: $172.90 million versus $171.61 million estimated by four analysts on average.
Mortgage warehouse transactional fees: $0.93 million compared to the $1.22 million average estimate based on four analysts.
Net Interest Income: $172.51 million versus $169.93 million estimated by four analysts on average.
Commercial lease income: $9.04 million versus $8.99 million estimated by three analysts on average.
Loan fees: $5.93 million versus the two-analyst average estimate of $5.83 million.
Shares of Customers Bancorp have returned -11.1% over the past month versus the Zacks S&P 500 composite's +2.5% 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) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2023, Customers Bancorp (CUBI - Free Report) reported revenue of $191.18 million, up 34.2% over the same period last year. EPS came in at $1.90, compared to $1.19 in the year-ago quarter.
The reported revenue represents a surprise of +1.76% over the Zacks Consensus Estimate of $187.87 million. With the consensus EPS estimate being $1.76, the EPS surprise was +7.95%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 49.1% versus 47.6% estimated by four analysts on average.
- Average Interest-Earning Assets: $20.80 billion compared to the $21.20 billion average estimate based on four analysts.
- Net Interest Margin: 3.3% versus 3.2% estimated by four analysts on average.
- Net charge-offs to average loans: 0.5% compared to the 0.6% average estimate based on two analysts.
- Total Non-Interest Income: $18.67 million versus the five-analyst average estimate of $18.40 million.
- Bank-owned life insurance: $2.16 million versus the four-analyst average estimate of $2.13 million.
- Net interest income tax equivalent: $172.90 million versus $171.61 million estimated by four analysts on average.
- Mortgage warehouse transactional fees: $0.93 million compared to the $1.22 million average estimate based on four analysts.
- Net Interest Income: $172.51 million versus $169.93 million estimated by four analysts on average.
- Commercial lease income: $9.04 million versus $8.99 million estimated by three analysts on average.
- Loan fees: $5.93 million versus the two-analyst average estimate of $5.83 million.
View all Key Company Metrics for Customers Bancorp here>>>Shares of Customers Bancorp have returned -11.1% over the past month versus the Zacks S&P 500 composite's +2.5% 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.