SG Americas Securities LLC Invests $244,000 in Customers Bancorp, Inc. (NYSE:CUBI)

SG Americas Securities LLC purchased a new position in Customers Bancorp, Inc. (NYSE:CUBI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,246 shares of the bank’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CUBI. Ridgewood Investments LLC purchased a new position in shares of Customers Bancorp in the second quarter worth about $48,000. Innealta Capital LLC acquired a new stake in Customers Bancorp during the second quarter worth about $74,000. Ashton Thomas Private Wealth LLC acquired a new stake in Customers Bancorp during the second quarter worth about $151,000. Capstone Investment Advisors LLC acquired a new stake in Customers Bancorp during the first quarter worth about $220,000. Finally, Mackenzie Financial Corp increased its position in Customers Bancorp by 10.4% during the second quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock worth $281,000 after purchasing an additional 549 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Samvir S. Sidhu purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the purchase, the chief executive officer now directly owns 144,504 shares of the company’s stock, valued at $6,579,267.12. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.92% of the stock is owned by insiders.

Customers Bancorp Trading Down 3.3 %

Shares of CUBI stock opened at $45.12 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a market capitalization of $1.42 billion, a P/E ratio of 6.30 and a beta of 1.61. The company has a 50 day moving average price of $47.64 and a 200 day moving average price of $49.17. Customers Bancorp, Inc. has a fifty-two week low of $31.16 and a fifty-two week high of $68.49.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wedbush cut shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. Hovde Group cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a research report on Friday, August 9th. Keefe, Bruyette & Woods dropped their price target on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. B. Riley lifted their price target on shares of Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, DA Davidson lifted their price target on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Customers Bancorp Profile

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.