Customers Bancorp (CUBI) vs First Merchants (FRME)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Customers Bancorp (CUBI) has outperformed First Merchants (FRME) over the past year, gaining 13.1% versus a gain of 3.3%. Over five years, CUBI leads with a +62.8% price change compared with -8.4% for FRME. Customers Bancorp is the larger company by market cap ($2.52 billion vs $2.49 billion), about 1.0 times the size.
On valuation, Customers Bancorp trades at a lower forward P/E (7.8x vs 8.9x for First Merchants). First Merchants pays a dividend yielding 3.66%, while Customers Bancorp does not currently pay one. Customers Bancorp converts more of its revenue into profit, with a net margin of 472.3% versus 34.1%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | CUBI | FRME |
|---|---|---|
| Share price | $74.60 | $39.59 |
| Market cap | $2.52B | $2.49B |
| 1-day change | +0.61% | +0.76% |
| YTD return | +1.41% | +4.83% |
| 1-year return | +13.10% | +3.26% |
| 5-year return | +62.82% | -8.41% |
| P/E ratio (TTM) | 9.05 | 12.73 |
| Forward P/E | 7.80 | 8.86 |
| EPS (TTM) | $8.24 | $3.11 |
| Dividend yield | 0.00% | 3.66% |
| Annual dividend | $0.00 | $1.45 |
| Revenue (latest FY) | $47.45M | $662.95M |
| Revenue growth (YoY) | +16.68% | +2.51% |
| Net income (latest FY) | $224.09M | $226.00M |
| Net margin | 472.30% | 34.09% |
| 52-week high | $84.38 | $45.33 |
| 52-week low | $59.34 | $34.66 |
| Distance from 52-week high | -11.59% | -12.66% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +25.27% | +18.29% |
| Average volume | 276.24K | 462.28K |
| Shares outstanding | 33.78M | 62.80M |
| Employees | 885 | 2,086 |
| Sector | Finance | Finance |
| Industry | Major Banks | Major Banks |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- First Merchants trades at a higher earnings multiple (12.7x vs 9.1x trailing P/E).
- First Merchants offers a meaningfully higher dividend yield (3.66% vs 0.00%).
- Customers Bancorp is more profitable, keeping 472.3 cents of every revenue dollar as net income versus 34.1 cents for First Merchants.
- Customers Bancorp grew revenue faster in its latest fiscal year (+16.68% vs +2.51%).
About Customers Bancorp
CUBI stock →Customers Bancorp, Inc. operates as the bank holding company for Customers Bank that provides banking products and services for commercial and consumer clients.
Finance · Major Banks · 885 employees
About First Merchants
FRME stock →First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides commercial and consumer banking services. The company offers a range of financial services, including checking, savings, and deposit products; debit and credit cards; mortgages, refinance, construction or renovation of residential properties, agricultural lending, treasury management services and depository products.
Finance · Major Banks · 2,086 employees
CUBI vs FRME FAQ
Which is bigger, Customers Bancorp or First Merchants?
Customers Bancorp (CUBI) is larger, with a market capitalization of $2.52B compared with $2.49B for First Merchants (FRME).
Which stock has performed better over the past year, CUBI or FRME?
CUBI returned +13.10% over the past 12 months, compared with +3.26% for FRME (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, CUBI or FRME?
CUBI has the lower trailing P/E at 9.1, versus 12.7 for FRME. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Customers Bancorp or First Merchants?
First Merchants pays a dividend yielding 3.66%, while Customers Bancorp does not currently pay a regular dividend.
Are Customers Bancorp and First Merchants in the same industry?
Yes. Both are classified in the Major Banks industry within the Finance sector.