Dimensional Fund Advisors LP Acquires 65,954 Shares of Customers Bancorp, Inc $CUBI

Dimensional Fund Advisors LP lifted its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI) by 3.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,942,989 shares of the bank’s stock after buying an additional 65,954 shares during the quarter. Dimensional Fund Advisors LP owned about 5.77% of Customers Bancorp worth $134,859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in Customers Bancorp by 5.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 421,852 shares of the bank’s stock worth $31,428,000 after acquiring an additional 23,129 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Customers Bancorp by 247,273.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock valued at $16,279,000 after purchasing an additional 222,546 shares during the period. Tudor Investment Corp ET AL boosted its holdings in Customers Bancorp by 247.1% in the 3rd quarter. Tudor Investment Corp ET AL now owns 90,102 shares of the bank’s stock valued at $5,890,000 after purchasing an additional 64,141 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Customers Bancorp by 213.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 66,516 shares of the bank’s stock valued at $4,864,000 after purchasing an additional 45,299 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of Customers Bancorp during the 4th quarter valued at $1,534,000. 89.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Customers Bancorp news, EVP Philip Watkins sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $75.67, for a total value of $227,010.00. Following the completion of the sale, the executive vice president owned 43,993 shares of the company’s stock, valued at $3,328,950.31. This represents a 6.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Samvir S. Sidhu purchased 1,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $72.58 per share, with a total value of $72,580.00. Following the completion of the purchase, the chief executive officer directly owned 521,714 shares of the company’s stock, valued at $37,866,002.12. The trade was a 0.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 10.45% of the stock is owned by insiders.

Customers Bancorp Trading Up 2.8%

NYSE CUBI opened at $78.62 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01. The stock’s 50-day simple moving average is $76.52 and its two-hundred day simple moving average is $74.52. Customers Bancorp, Inc has a twelve month low of $59.34 and a twelve month high of $82.56. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 9.59 and a beta of 1.48.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, beating the consensus estimate of $2.00 by $0.05. The firm had revenue of $227.28 million for the quarter, compared to analyst estimates of $229.24 million. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The company’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.80 EPS. Research analysts forecast that Customers Bancorp, Inc will post 8.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CUBI. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Customers Bancorp in a report on Monday, June 29th. Fundamental Research set a $94.00 price objective on Customers Bancorp in a research note on Wednesday, July 1st. DA Davidson boosted their target price on Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. upped their target price on Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Finally, Hovde Group raised their price target on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.15.

Customers Bancorp Profile

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.