Customers Bancorp (CUBI) Lags Q3 Earnings and Revenue Estimates

Core Insights - Customers Bancorp (CUBI) reported quarterly earnings of $1.26 per share, missing the Zacks Consensus Estimate of $1.45 per share, and down from $2.59 per share a year ago, representing an earnings surprise of -13.10% [1] - The company posted revenues of $167.1 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 13.26%, and down from $217.55 million year-over-year [2] - Customers Bancorp shares have declined approximately 20.8% since the beginning of the year, contrasting with the S&P 500's gain of 21.9% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.55 on revenues of $198.53 million, and for the current fiscal year, it is $6.11 on revenues of $768.84 million [7] - The estimate revisions trend for Customers Bancorp is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Banks - Southeast industry, to which Customers Bancorp belongs, is currently in the top 36% of over 250 Zacks industries, suggesting that stocks in the top 50% of Zacks-ranked industries outperform those in the bottom 50% by more than 2 to 1 [8]