Dimensional Fund Advisors LP grew its holdings in shares of Customers Bancorp Inc (NYSE:CUBI) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,502,891 shares of the bank’s stock after purchasing an additional 170,419 shares during the period. Dimensional Fund Advisors LP owned approximately 7.96% of Customers Bancorp worth $72,959,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of CUBI. Mackay Shields LLC purchased a new stake in shares of Customers Bancorp during the 1st quarter valued at $3,930,000. BlackRock Inc. lifted its holdings in shares of Customers Bancorp by 3.4% during the 4th quarter. BlackRock Inc. now owns 3,767,665 shares of the bank’s stock valued at $97,920,000 after purchasing an additional 124,229 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Customers Bancorp by 173.3% during the 1st quarter. American Century Companies Inc. now owns 186,735 shares of the bank’s stock valued at $5,443,000 after purchasing an additional 118,415 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of Customers Bancorp by 788.4% during the 4th quarter. Citadel Advisors LLC now owns 81,821 shares of the bank’s stock valued at $2,126,000 after purchasing an additional 72,611 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Customers Bancorp by 128.6% during the 4th quarter. Deutsche Bank AG now owns 103,509 shares of the bank’s stock valued at $2,688,000 after purchasing an additional 58,225 shares during the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.
NYSE CUBI opened at $30.48 on Friday. The company has a debt-to-equity ratio of 3.37, a quick ratio of 0.95 and a current ratio of 1.21. Customers Bancorp Inc has a 1 year low of $24.75 and a 1 year high of $33.85. The firm has a market capitalization of $960.06 million, a P/E ratio of 11.81, a PEG ratio of 1.10 and a beta of 0.81.
In related news, Director T Lawrence Way sold 19,293 shares of the company’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $31.82, for a total value of $613,903.26. Following the transaction, the director now directly owns 233,611 shares of the company’s stock, valued at approximately $7,433,502.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jay S. Sidhu sold 50,000 shares of the company’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $30.28, for a total value of $1,514,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 203,035 shares of company stock worth $6,142,525. 8.67% of the stock is owned by insiders.
Several analysts have recently commented on CUBI shares. Maxim Group reiterated a “buy” rating and set a $50.00 price objective on shares of Customers Bancorp in a report on Tuesday, May 1st. ValuEngine lowered Customers Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Sandler O’Neill reiterated a “hold” rating and set a $31.50 price objective on shares of Customers Bancorp in a report on Monday, March 26th. Finally, Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $37.42.
Customers Bancorp Profile
Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, individual retirement, and non-retail time deposit accounts, as well as certificates of deposit.
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