Customers Bancorp, Inc $CUBI Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) by 50.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,909 shares of the bank’s stock after selling 33,531 shares during the quarter. SG Americas Securities LLC owned about 0.10% of Customers Bancorp worth $2,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CX Institutional purchased a new stake in shares of Customers Bancorp in the third quarter valued at about $67,000. KLP Kapitalforvaltning AS increased its holdings in shares of Customers Bancorp by 5.3% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 6,000 shares of the bank’s stock valued at $392,000 after purchasing an additional 300 shares in the last quarter. Hennessy Advisors Inc. lifted its position in shares of Customers Bancorp by 8.1% during the 3rd quarter. Hennessy Advisors Inc. now owns 40,000 shares of the bank’s stock valued at $2,615,000 after acquiring an additional 3,000 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Customers Bancorp by 7.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 398,723 shares of the bank’s stock worth $25,718,000 after acquiring an additional 28,928 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Customers Bancorp during the third quarter worth $523,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CUBI. National Bankshares set a $89.00 price objective on shares of Customers Bancorp in a research note on Wednesday, September 24th. Hovde Group upped their target price on Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of Customers Bancorp in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Customers Bancorp in a report on Monday, December 29th. Finally, Stephens raised their price target on shares of Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.80.

Insiders Place Their Bets

In other news, EVP Philip Watkins sold 2,900 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $65.04, for a total value of $188,616.00. Following the completion of the sale, the executive vice president owned 50,849 shares of the company’s stock, valued at $3,307,218.96. This represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay S. Sidhu sold 128,185 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $69.43, for a total value of $8,899,884.55. Following the completion of the transaction, the chief executive officer owned 790,031 shares of the company’s stock, valued at approximately $54,851,852.33. This represents a 13.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 211,900 shares of company stock worth $14,595,664 over the last quarter. 8.69% of the stock is owned by corporate insiders.

Customers Bancorp Price Performance

Shares of Customers Bancorp stock opened at $77.37 on Thursday. The business’s fifty day moving average price is $71.89 and its 200 day moving average price is $67.90. The stock has a market capitalization of $2.64 billion, a P/E ratio of 15.69 and a beta of 1.61. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. Customers Bancorp, Inc has a twelve month low of $40.75 and a twelve month high of $79.99.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.30. The business had revenue of $231.77 million for the quarter, compared to analyst estimates of $185.10 million. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%.During the same period in the previous year, the company posted $1.34 EPS. As a group, research analysts anticipate that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

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.