Customers Bancorp Inc (NYSE:CUBI) Stock Position Reduced by SG Americas Securities LLC

SG Americas Securities LLC lessened its position in shares of Customers Bancorp Inc (NYSE:CUBI) by 58.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,906 shares of the bank’s stock after selling 8,399 shares during the period. SG Americas Securities LLC’s holdings in Customers Bancorp were worth $122,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Aperio Group LLC lifted its holdings in shares of Customers Bancorp by 2.5% in the 2nd quarter. Aperio Group LLC now owns 27,444 shares of the bank’s stock worth $576,000 after purchasing an additional 676 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in Customers Bancorp in the 2nd quarter valued at approximately $685,000. Wells Fargo & Company MN increased its position in Customers Bancorp by 88.0% in the 2nd quarter. Wells Fargo & Company MN now owns 426,630 shares of the bank’s stock valued at $8,959,000 after acquiring an additional 199,732 shares during the period. Bank of Montreal Can increased its position in Customers Bancorp by 136.7% in the 2nd quarter. Bank of Montreal Can now owns 4,059 shares of the bank’s stock valued at $85,000 after acquiring an additional 2,344 shares during the period. Finally, Ancora Advisors LLC increased its position in Customers Bancorp by 86.8% in the 2nd quarter. Ancora Advisors LLC now owns 22,598 shares of the bank’s stock valued at $475,000 after acquiring an additional 10,502 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Shares of CUBI stock opened at $23.38 on Monday. Customers Bancorp Inc has a 1 year low of $16.72 and a 1 year high of $25.72. The stock has a market cap of $732.27 million, a PE ratio of 11.57 and a beta of 1.08. The business’s fifty day moving average is $23.11 and its 200-day moving average is $20.81. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.04 and a current ratio of 1.09.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The company had revenue of $99.10 million for the quarter, compared to analysts’ expectations of $93.36 million. Customers Bancorp had a return on equity of 9.72% and a net margin of 13.45%. During the same period last year, the firm earned $0.62 EPS. Equities research analysts predict that Customers Bancorp Inc will post 2.2 earnings per share for the current year.

CUBI has been the topic of several research analyst reports. ValuEngine cut Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 14th. Zacks Investment Research upgraded Customers Bancorp from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Thursday, October 31st. Maxim Group reiterated a “buy” rating and set a $38.00 price target on shares of Customers Bancorp in a research report on Friday, October 25th. Finally, TheStreet upgraded Customers Bancorp from a “c” rating to a “b-” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $29.69.

In related news, insider James T. Collins sold 1,519 shares of Customers Bancorp stock in a transaction on Friday, September 27th. The stock was sold at an average price of $21.17, for a total value of $32,157.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 9.54% 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 small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.

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Institutional Ownership by Quarter for Customers Bancorp (NYSE:CUBI)

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