Customers Bancorp, Inc $CUBI Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors trimmed its stake by 2.4% (sold 48,345 shares) to 1,932,813 shares, still owning 5.66% of Customers Bancorp valued at $126.35M, and institutional investors collectively own 89.29% of the stock.
• Customers Bancorp beat recent estimates with $2.06 EPS (vs. $2.04) and $236.9M revenue, and its board authorized a $100M share repurchase program to buy back up to 4% of outstanding shares.
• Analyst sentiment is a "Moderate Buy" consensus with an average price target of $88.18 versus the stock's recent $66.59 price and a P/E of 10.74, suggesting analyst-perceived upside.

Dimensional Fund Advisors LP decreased its holdings in Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,932,813 shares of the bank's stock after selling 48,345 shares during the quarter. Dimensional Fund Advisors LP owned 5.66% of Customers Bancorp worth $126,348,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in Customers Bancorp by 63.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank's stock worth $44,000 after buying an additional 260 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Customers Bancorp in the 1st quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd grew its stake in shares of Customers Bancorp by 451.2% in the third quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank's stock worth $61,000 after acquiring an additional 767 shares in the last quarter. CX Institutional acquired a new position in shares of Customers Bancorp in the third quarter worth $67,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Customers Bancorp by 17.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank's stock worth $115,000 after acquiring an additional 256 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Wall Street Analysts Forecast Growth

CUBI has been the topic of several analyst reports. JPMorgan Chase & Co. started coverage on Customers Bancorp in a research note on Friday, March 6th. They issued an "overweight" rating and a $90.00 price objective on the stock. TD Cowen restated a "buy" rating on shares of Customers Bancorp in a report on Monday, January 26th. Stephens lowered Customers Bancorp from an "equal weight" rating to an "underweight" rating and set a $71.00 price target on the stock. in a research report on Friday, February 6th. B. Riley Financial reiterated a "buy" rating on shares of Customers Bancorp in a research note on Monday, January 26th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $95.00 price objective on shares of Customers Bancorp in a research report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.18.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $66.59 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $74.36 and a 200-day simple moving average of $70.62. The stock has a market cap of $2.28 billion, a P/E ratio of 10.74 and a beta of 1.66. Customers Bancorp, Inc has a 12-month low of $40.75 and a 12-month high of $82.56.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its earnings results on Thursday, January 22nd. The bank reported $2.06 EPS for the quarter, beating the consensus estimate of $2.04 by $0.02. The firm had revenue of $236.90 million for the quarter, compared to analyst estimates of $200.38 million. Customers Bancorp had a return on equity of 14.05% and a net margin of 15.15%.During the same quarter in the prior year, the company posted $1.36 earnings per share. Equities analysts expect that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Customers Bancorp announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Customers Bancorp Company 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.

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