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Compared to Estimates, Customers Bancorp (CUBI) Q1 Earnings: A Look at Key Metrics
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Customers Bancorp (CUBI - Free Report) reported $181.62 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 0.1%. EPS of $1.68 for the same period compares to $1.58 a year ago.
The reported revenue represents a surprise of +0.04% over the Zacks Consensus Estimate of $181.55 million. With the consensus EPS estimate being $1.62, the EPS surprise was +3.70%.
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: 54.6% versus the four-analyst average estimate of 49.2%.
Average Interest-Earning Assets: $20.87 billion versus $20.58 billion estimated by four analysts on average.
Net Interest Margin: 3.1% versus the four-analyst average estimate of 3.2%.
Net charge-offs to average loans: 0.6% versus the two-analyst average estimate of 0.5%.
Total Non-Interest Income: $21.23 million versus the five-analyst average estimate of $19.36 million.
Commercial lease income: $9.68 million versus $9.03 million estimated by four analysts on average.
Bank-owned life insurance: $3.26 million compared to the $2.20 million average estimate based on four analysts.
Net interest income tax equivalent: $160.78 million versus $163.75 million estimated by four analysts on average.
Mortgage warehouse transactional fees: $0.95 million compared to the $0.97 million average estimate based on four analysts.
Net Interest Income: $160.39 million versus the four-analyst average estimate of $164.40 million.
Loan fees: $5.28 million versus the three-analyst average estimate of $5.67 million.
Other Non Interest Income: $2.08 million versus $1.13 million estimated by two analysts on average.
Shares of Customers Bancorp have returned -5.3% over the past month versus the Zacks S&P 500 composite's -3% 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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Compared to Estimates, Customers Bancorp (CUBI) Q1 Earnings: A Look at Key Metrics
Customers Bancorp (CUBI - Free Report) reported $181.62 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 0.1%. EPS of $1.68 for the same period compares to $1.58 a year ago.
The reported revenue represents a surprise of +0.04% over the Zacks Consensus Estimate of $181.55 million. With the consensus EPS estimate being $1.62, the EPS surprise was +3.70%.
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: 54.6% versus the four-analyst average estimate of 49.2%.
- Average Interest-Earning Assets: $20.87 billion versus $20.58 billion estimated by four analysts on average.
- Net Interest Margin: 3.1% versus the four-analyst average estimate of 3.2%.
- Net charge-offs to average loans: 0.6% versus the two-analyst average estimate of 0.5%.
- Total Non-Interest Income: $21.23 million versus the five-analyst average estimate of $19.36 million.
- Commercial lease income: $9.68 million versus $9.03 million estimated by four analysts on average.
- Bank-owned life insurance: $3.26 million compared to the $2.20 million average estimate based on four analysts.
- Net interest income tax equivalent: $160.78 million versus $163.75 million estimated by four analysts on average.
- Mortgage warehouse transactional fees: $0.95 million compared to the $0.97 million average estimate based on four analysts.
- Net Interest Income: $160.39 million versus the four-analyst average estimate of $164.40 million.
- Loan fees: $5.28 million versus the three-analyst average estimate of $5.67 million.
- Other Non Interest Income: $2.08 million versus $1.13 million estimated by two analysts on average.
View all Key Company Metrics for Customers Bancorp here>>>Shares of Customers Bancorp have returned -5.3% over the past month versus the Zacks S&P 500 composite's -3% 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.