SG Americas Securities LLC Purchases 70,547 Shares of Customers Bancorp, Inc $CUBI

SG Americas Securities LLC lifted its position in shares of Customers Bancorp, Inc (NYSE:CUBI) by 214.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 103,456 shares of the bank’s stock after purchasing an additional 70,547 shares during the period. SG Americas Securities LLC’s holdings in Customers Bancorp were worth $7,565,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CUBI. Arizona State Retirement System raised its holdings in Customers Bancorp by 1.8% during the third quarter. Arizona State Retirement System now owns 8,879 shares of the bank’s stock valued at $580,000 after acquiring an additional 155 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Customers Bancorp by 0.5% in the third quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock worth $2,226,000 after acquiring an additional 182 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Customers Bancorp by 0.3% in the second quarter. Russell Investments Group Ltd. now owns 80,896 shares of the bank’s stock worth $4,752,000 after acquiring an additional 244 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Customers Bancorp by 17.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock worth $115,000 after purchasing an additional 256 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Customers Bancorp by 63.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on CUBI shares. Maxim Group set a $100.00 price target on Customers Bancorp in a report on Monday, January 26th. Piper Sandler initiated coverage on shares of Customers Bancorp in a research report on Thursday, March 12th. They set an “overweight” rating and a $82.00 price objective on the stock. Weiss Ratings raised shares of Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Wall Street Zen downgraded shares of Customers Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Finally, Morgan Stanley upped their target price on shares of Customers Bancorp from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.67.

Customers Bancorp Stock Performance

Shares of NYSE:CUBI opened at $67.36 on Tuesday. The firm has a fifty day simple moving average of $71.67 and a two-hundred day simple moving average of $70.35. Customers Bancorp, Inc has a 52 week low of $40.75 and a 52 week high of $82.56. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $2.30 billion, a P/E ratio of 10.86 and a beta of 1.66.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. The firm had revenue of $236.90 million for the quarter, compared to analysts’ expectations of $200.38 million. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. During the same period in the prior year, the company earned $1.36 EPS. On average, analysts expect that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal year.

Customers Bancorp declared that its Board of Directors has approved a share buyback program on Wednesday, February 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the bank to reacquire up to 4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Customers Bancorp Company Profile

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.