SG Americas Securities LLC Buys New Stake in Customers Bancorp, Inc. (NYSE:CUBI)

SG Americas Securities LLC bought a new stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,246 shares of the bank’s stock, valued at approximately $244,000.

A number of other hedge funds have also bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in Customers Bancorp during the 2nd quarter valued at approximately $391,000. Algert Global LLC increased its stake in Customers Bancorp by 2.9% during the 2nd quarter. Algert Global LLC now owns 83,312 shares of the bank’s stock valued at $3,997,000 after purchasing an additional 2,335 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its stake in Customers Bancorp by 93.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 48,587 shares of the bank’s stock valued at $2,331,000 after purchasing an additional 23,470 shares in the last quarter. Mackenzie Financial Corp increased its stake in Customers Bancorp by 10.4% during the 2nd quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock valued at $281,000 after purchasing an additional 549 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Customers Bancorp by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,164 shares of the bank’s stock valued at $728,000 after purchasing an additional 834 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Stock Performance

Shares of NYSE CUBI opened at $45.12 on Tuesday. The company’s fifty day moving average price is $47.64 and its 200 day moving average price is $49.17. Customers Bancorp, Inc. has a 1 year low of $31.16 and a 1 year high of $68.49. The company has a market capitalization of $1.42 billion, a PE ratio of 6.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.06. The business had revenue of $198.69 million for the quarter, compared to the consensus estimate of $184.40 million. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $1.65 earnings per share. On average, research analysts predict that Customers Bancorp, Inc. will post 6.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CUBI. Jefferies Financial Group cut their price objective on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. B. Riley increased their price objective on shares of Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Raymond James cut their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Customers Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Insider Buying and Selling at Customers Bancorp

In related news, CEO Samvir S. Sidhu acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of $45.53 per share, with a total value of $113,825.00. Following the completion of the acquisition, the chief executive officer now directly owns 144,504 shares in the company, valued at approximately $6,579,267.12. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 6.92% of the company’s stock.

About Customers Bancorp

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 provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.