SG Americas Securities LLC Has $4.60 Million Stock Holdings in Customers Bancorp, Inc $CUBI

SG Americas Securities LLC decreased its position in Customers Bancorp, Inc (NYSE:CUBI) by 35.9% during the first quarter, HoldingsChannel reports. The firm owned 66,308 shares of the bank’s stock after selling 37,148 shares during the quarter. SG Americas Securities LLC’s holdings in Customers Bancorp were worth $4,602,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Customers Bancorp by 3,074.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock worth $63,732,000 after acquiring an additional 844,141 shares during the period. Anatole Investment Management Ltd acquired a new stake in shares of Customers Bancorp in the second quarter valued at about $17,593,000. Millennium Management LLC increased its stake in shares of Customers Bancorp by 448.8% in the third quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock worth $21,427,000 after purchasing an additional 268,056 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Customers Bancorp by 247,273.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock worth $16,279,000 after purchasing an additional 222,546 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in shares of Customers Bancorp by 3,173.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 158,429 shares of the bank’s stock worth $10,357,000 after purchasing an additional 153,589 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Stock Down 2.3%

NYSE CUBI opened at $79.17 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50-day simple moving average of $75.96 and a 200 day simple moving average of $74.17. Customers Bancorp, Inc has a twelve month low of $58.52 and a twelve month high of $82.56. The stock has a market cap of $2.68 billion, a PE ratio of 10.05 and a beta of 1.49.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.09. The firm had revenue of $225.40 million for the quarter, compared to analyst estimates of $223.51 million. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The company’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 earnings per share. On average, research analysts forecast that Customers Bancorp, Inc will post 8.52 EPS for the current year.

Insider Transactions at Customers Bancorp

In related news, EVP Philip Watkins sold 3,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president directly owned 43,993 shares of the company’s stock, valued at $3,328,950.31. This trade represents a 6.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jay S. Sidhu sold 60,315 shares of Customers Bancorp stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the sale, the chairman owned 767,557 shares in the company, valued at $58,510,870.11. This represents a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.45% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CUBI shares. Morgan Stanley increased their target price on Customers Bancorp from $83.00 to $88.00 and gave the company an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. dropped their price target on Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Stephens upgraded Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 price target for the company in a report on Monday, March 16th. Hovde Group increased their price objective on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings upgraded shares of Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Customers Bancorp has an average rating of “Moderate Buy” and a consensus target price of $88.42.

About Customers Bancorp

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.