SG Americas Securities LLC Reduces Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

SG Americas Securities LLC reduced its stake in Customers Bancorp, Inc. (NYSE:CUBIGet Rating) by 49.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,569 shares of the bank’s stock after selling 12,179 shares during the quarter. SG Americas Securities LLC’s holdings in Customers Bancorp were worth $655,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CUBI. Point72 Hong Kong Ltd acquired a new stake in shares of Customers Bancorp during the fourth quarter worth $34,000. Lazard Asset Management LLC boosted its position in Customers Bancorp by 70.5% in the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank’s stock valued at $44,000 after buying an additional 284 shares during the last quarter. National Bank of Canada FI acquired a new position in Customers Bancorp in the 4th quarter worth approximately $87,000. Point72 Asset Management L.P. purchased a new position in Customers Bancorp during the 4th quarter worth approximately $92,000. Finally, USA Financial Portformulas Corp lifted its stake in Customers Bancorp by 30.2% during the 4th quarter. USA Financial Portformulas Corp now owns 2,001 shares of the bank’s stock valued at $131,000 after acquiring an additional 464 shares during the period. 83.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stephens cut their price objective on shares of Customers Bancorp from $54.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Jefferies Financial Group reduced their price objective on Customers Bancorp from $63.00 to $48.00 in a research note on Monday, July 11th. DA Davidson reissued a “neutral” rating on shares of Customers Bancorp in a report on Wednesday, July 27th. B. Riley reduced their price target on Customers Bancorp from $90.00 to $85.00 in a research report on Monday, July 11th. Finally, Maxim Group restated a “buy” rating and issued a $85.00 price objective on shares of Customers Bancorp in a research report on Friday, April 29th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.57.

Insider Buying and Selling

In other news, CFO Carla A. Leibold acquired 1,000 shares of the stock in a transaction that occurred on Friday, May 6th. The shares were bought at an average cost of $42.10 per share, for a total transaction of $42,100.00. Following the acquisition, the chief financial officer now owns 68,348 shares in the company, valued at approximately $2,877,450.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Carla A. Leibold acquired 1,000 shares of the firm’s stock in a transaction on Friday, May 6th. The shares were bought at an average price of $42.10 per share, for a total transaction of $42,100.00. Following the acquisition, the chief financial officer now owns 68,348 shares of the company’s stock, valued at approximately $2,877,450.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Samvir S. Sidhu bought 2,965 shares of the company’s stock in a transaction dated Friday, May 6th. The shares were acquired at an average cost of $42.10 per share, with a total value of $124,826.50. Following the acquisition, the chief executive officer now directly owns 80,637 shares of the company’s stock, valued at $3,394,817.70. The disclosure for this purchase can be found here. Insiders purchased a total of 4,465 shares of company stock worth $186,912 in the last 90 days. Insiders own 6.75% of the company’s stock.

Customers Bancorp Stock Down 1.8 %

Customers Bancorp stock opened at $36.63 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $1.21 billion, a PE ratio of 3.67 and a beta of 1.60. The business has a 50 day simple moving average of $36.86 and a 200-day simple moving average of $47.08. Customers Bancorp, Inc. has a 12 month low of $32.19 and a 12 month high of $76.13.

Customers Bancorp (NYSE:CUBIGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The bank reported $1.68 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.08). Customers Bancorp had a return on equity of 29.54% and a net margin of 38.56%. During the same quarter in the previous year, the business posted $1.76 earnings per share. On average, analysts anticipate that Customers Bancorp, Inc. will post 7.75 EPS for the current fiscal year.

About Customers Bancorp

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Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company offers deposits products, including checking, savings, MMDA, and other deposits accounts. It offers loan products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans.

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Institutional Ownership by Quarter for Customers Bancorp (NYSE:CUBI)

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