Customers Bancorp (CUBI) Tops Q4 EPS by 4c; Offers FY18 EPS Guidance Above Consensus
Get Alerts CUBI Hot Sheet
Join SI Premium – FREE
Customers Bancorp (NYSE: CUBI) reported Q4 EPS of $0.55, $0.04 better than the analyst estimate of $0.51.
Outlook
“Looking to 2018, we understand that there is a need to provide greater transparency into our business given the planned divestiture of BankMobile and tax reform,” stated Mr. Sidhu. “To clarify our business expectations, Customers will provide more guidance for 2018. Specifically, Customers is currently targeting moderate growth in 2018 and diluted EPS of $2.75 to $3.00 from the Community Business Banking segment, which is our core franchise which will remain as our continuing business after the spin-off and merger has been completed.”
Customers expects the Community Business Banking segment to grow total assets approximately 12% to 15% in 2018, and expects net interest margin will remain in a range between 2.70% to 2.80%. The efficiency ratio at the Community Business Banking segment in 2018 is expected to be in the mid to high 40%s, with expected fee income of approximately $35 million to $40 million. We estimate an effective consolidated tax rate of approximately 24%. Customers expects to continue to experience notable seasonality with first quarter earnings, which are impacted by lower average balances in the mortgage warehouse business, a shorter day count, and an increase in compensation expense.
GUIDANCE:
Customers Bancorp sees FY2018 EPS of $2.75-$3.00, versus the consensus of $2.74.
For earnings history and earnings-related data on Customers Bancorp (CUBI) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ASML slides as Q1 sales fall short but firm still on track for 2025 revenue target
- Union Bankshares (UNB) Reports Q1 EPS of $0.53
- Sunoco LP (SUN) Completes Acquisition of European Liquid Fuels Terminals and Divestiture of West Texas Assets; Reaffirms 2024 Adjusted EBITDA Guidance Range
Create E-mail Alert Related Categories
Corporate News, Earnings, Guidance, Hot Guidance, Management CommentsRelated Entities
Earnings, Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!