SG Americas Securities LLC Grows Stock Holdings in Customers Bancorp, Inc $CUBI

Key Points

• SG Americas Securities LLC increased its stake in Customers Bancorp (NYSE:CUBI) by 214.4% in Q4, buying 70,547 shares to hold 103,456 shares (~0.30% ownership) worth about $7.57 million.
• Customers Bancorp beat Q4 estimates with $2.06 EPS (vs. $2.04) and $236.9M revenue (vs. $200.38M), and its board authorized a $100 million share buyback program (up to 4% of shares).
• Analysts have a consensus rating of "Moderate Buy" with an average target price of $87.67; the stock has a $2.3B market cap, a P/E of 10.86, and a 52-week range of $40.75–$82.56.

SG Americas Securities LLC boosted its stake in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 214.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,456 shares of the bank's stock after purchasing an additional 70,547 shares during the period. SG Americas Securities LLC owned about 0.30% of Customers Bancorp worth $7,565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Customers Bancorp by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,155,308 shares of the bank's stock valued at $140,892,000 after buying an additional 81,200 shares during the last quarter. Hood River Capital Management LLC boosted its stake in shares of Customers Bancorp by 1.6% in the 2nd quarter. Hood River Capital Management LLC now owns 1,523,025 shares of the bank's stock worth $89,462,000 after buying an additional 23,416 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Customers Bancorp by 7.9% in the third quarter. American Century Companies Inc. now owns 945,825 shares of the bank's stock worth $61,829,000 after acquiring an additional 69,200 shares during the period. JPMorgan Chase & Co. increased its position in Customers Bancorp by 9.4% during the second quarter. JPMorgan Chase & Co. now owns 435,637 shares of the bank's stock valued at $25,589,000 after acquiring an additional 37,309 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Customers Bancorp by 7.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 398,723 shares of the bank's stock valued at $25,718,000 after acquiring an additional 28,928 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Stock Performance

NYSE:CUBI opened at $67.36 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50-day simple moving average of $71.67 and a two-hundred day simple moving average of $70.35. The firm has a market capitalization of $2.30 billion, a PE ratio of 10.86 and a beta of 1.66. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $82.56.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 14.05% and a net margin of 15.15%.During the same period in the previous year, the firm earned $1.36 EPS. Analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Customers Bancorp declared that its board has authorized a share buyback program on Wednesday, February 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the bank to repurchase up to 4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on CUBI shares. Maxim Group set a $100.00 target price on Customers Bancorp in a research report on Monday, January 26th. TD Cowen reaffirmed a "buy" rating on shares of Customers Bancorp in a research report on Monday, January 26th. Weiss Ratings raised shares of Customers Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 2nd. Stephens upgraded shares of Customers Bancorp from an "underweight" rating to an "equal weight" rating and set a $71.00 target price for the company in a research report on Monday, March 16th. Finally, Wall Street Zen cut shares of Customers Bancorp from a "buy" rating to a "hold" rating in a report on Sunday, January 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $87.67.

Customers Bancorp 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.

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