Why Customers Bancorp Stock Dropped 9.8% This Week

Dave Kovaleski, The Motley Fool
·3 min read
Why Customers Bancorp Stock Dropped 9.8% This Week

Customers Bancorp (NYSE: CUBI) saw its share price fall 9.8% this week, as of 1:15 p.m. ET, from last Friday's close, according to S&P Global Market Intelligence. The downward movement of Customers Bancorp, the holding company for West Reading, Pennsylvania-based Customers Bank, was due mainly to the release of its fourth quarter and year-end earnings on Jan. 25. Core earnings, a non-GAAP metric the bank uses, adjusted for nonrecurring items, were $39.4 million in the fourth quarter, off 61% from Q4 2021.

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