Dimensional Fund Advisors LP recently announced the acquisition of new stake in Customers Bancorp Inc. (NYSE:CUBI). The institutional investor has increased its shareholding in the Financial company by 2.19% to 2.39 million shares with purchase of 51252.0 shares. This fresh investment now brings its stake to 7.35% valued currently at $73.62 million. In addition, The Vanguard Group, Inc. raised its holdings by 46852.0 to 2.05 million shares. And Federated MDTA LLC has lifted its position by 7.61% or 43518.0 shares – to 0.62 million shares.
With over 2.73 million Customers Bancorp Inc. (CUBI) shares trading Friday and a closing price of $22.86 on the day, the dollar volume was approximately $62.45 million. The shares have shown a negative half year performance of -31.10% and its price on 03/10/23 lost nearly -13.11%. Currently, there are 32.41M common shares owned by the public and among those 30.94M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for CUBI have a consensus price objective of $45.25. The analysts have set the share’s price value over the next 12 months at a high of $70.00 and a low of $35.00. The average price target is 49.06% above its recent price level and an upside to the estimated low will see the stock gain 34.69% over that period. But an upside of 67.34% will see the stock hit the forecast high price target while median target price for the stock is $41.00.
Insiders at the company have transacted a total of 67 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 49 of these insider trades were purchases, accounting for 126,691 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 26,778 shares.
The top 3 mutual fund holders in Customers Bancorp Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and DFA US Small Cap Value Portfolio. iShares Core S&P Small Cap ETF owns 2.15 million shares of the company’s stock, all valued at over $66.15 million. DFA US Small Cap Value Portfolio sold 57755.0 shares to bring its total holdings to over 0.76 million shares at a value of $23.31 million. DFA US Small Cap Value Portfolio now owns shares totaling to 2.33% of the shares outstanding.
Shares of Customers Bancorp Inc. (NYSE: CUBI) opened at $25.05, down -$1.26 from a prior closing price of $26.31. However, the script later moved the day high at 25.25, down -13.11%. The company’s stock has a 5-day price change of -25.37% and -22.38% over the past three months. CUBI shares are trading -19.34% year to date (YTD), with the 12-month market performance down to -58.34% lower. It has a 12-month low price of $25.13 and touched a high of $59.97 over the same period. CUBI has an average intraday trading volume of 496.35K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -25.70%, -23.98%, and -30.99% respectively.
Institutional ownership of Customers Bancorp Inc. (NYSE: CUBI) shares accounts for 87.80% of the company’s 32.41M shares outstanding. Mutual fund holders own 52.32%, while other institutional holders and individual stakeholders account for 9.54% and 32.43% respectively.
It has a market capitalization of $831.42M and a beta (3y monthly) value of 1.59. The stock’s trailing 12-month PE ratio is 3.52, while the earnings-per-share (ttm) stands at $6.49. The company has a PEG of 0.35 and the debt-to-equity ratio at 0.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.81% over the week and 4.03% over the month.
Analysts forecast that Customers Bancorp Inc. (CUBI) will achieve an EPS of $1.24 for the current quarter, $1.35 for the next quarter and $6.62 for 2024. The lowest estimate earnings-per-share for the quarter is $0.78 while analysts give the company a high EPS estimate of $1.44. Comparatively, EPS for the current quarter was $2.18 a year ago. Earnings per share for the fiscal year are expected to decrease by -35.40%, and 15.94% over the next financial year. EPS should shrink at an annualized rate of 10.00% over the next five years, compared to 24.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Customers Bancorp Inc. (CUBI) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 2 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CUBI, a number of firms have released research notes about the stock. DA Davidson stated their Buy rating for the stock in a research note on October 28, 2022, with the firm’s price target at $42-$44. Wedbush coverage for the Customers Bancorp Inc. (CUBI) stock in a research note released on September 28, 2022 offered a Outperform rating with a price target of $45. Keefe Bruyette was of a view on March 29, 2022 that the stock is Outperform, while Stephens gave the stock Equal-Weight rating on March 29, 2022, issuing a price target of $62.50. Wedbush on their part issued Outperform rating on January 15, 2021.
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