SG Americas Securities LLC Has $4.60 Million Stake in Customers Bancorp, Inc $CUBI

Key Points

• SG Americas Securities cut its Customers Bancorp stake by 35.9% in Q1, but still held 66,308 shares worth about $4.6 million. Institutional ownership remains high overall at 89.29%.
• Customers Bancorp reported strong first-quarter results, with earnings of $1.97 per share beating estimates and revenue rising 57.9% year over year to $225.4 million. The bank also posted a net margin of 18.63% and return on equity of 14.12%.
• Analysts are generally moderately bullish on CUBI, with an average price target of $88.42 after several recent rating changes and target increases. Insider activity was mixed, as CEO Samvir S. Sidhu bought shares while EVP Philip Watkins sold shares.

SG Americas Securities LLC trimmed its position in shares of Customers Bancorp, Inc (NYSE:CUBI - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,308 shares of the bank's stock after selling 37,148 shares during the period. SG Americas Securities LLC owned 0.20% of Customers Bancorp worth $4,602,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CUBI. Rockefeller Capital Management L.P. boosted its position in shares of Customers Bancorp by 528.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,445 shares of the bank's stock worth $106,000 after buying an additional 1,215 shares during the period. Corient Private Wealth LLC purchased a new stake in Customers Bancorp in the 4th quarter worth about $219,000. Mercer Global Advisors Inc. ADV purchased a new stake in Customers Bancorp in the 4th quarter worth about $277,000. Summit Global Investments acquired a new stake in Customers Bancorp during the 4th quarter worth about $580,000. Finally, EP Wealth Advisors LLC acquired a new stake in Customers Bancorp during the 4th quarter worth about $299,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Trading Down 2.3%

Shares of NYSE CUBI opened at $79.17 on Tuesday. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 10.05 and a beta of 1.49. The business has a 50 day simple moving average of $75.96 and a 200 day simple moving average of $74.17. Customers Bancorp, Inc has a 52 week low of $58.52 and a 52 week high of $82.56. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 1.01.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.09. The firm had revenue of $225.40 million for the quarter, compared to analyst estimates of $223.51 million. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The company's revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 earnings per share. On average, research analysts predict that Customers Bancorp, Inc will post 8.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Zacks Research downgraded Customers Bancorp from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 10th. Piper Sandler boosted their price objective on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an "overweight" rating in a research report on Friday. Stephens upgraded shares of Customers Bancorp from an "underweight" rating to an "equal weight" rating and set a $71.00 price objective on the stock in a research note on Monday, March 16th. Weiss Ratings upgraded shares of Customers Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. Finally, Morgan Stanley boosted their price target on shares of Customers Bancorp from $83.00 to $88.00 and gave the company an "equal weight" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $88.42.

Insider Activity

In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 1,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $72.58 per share, for a total transaction of $72,580.00. Following the acquisition, the chief executive officer owned 521,714 shares of the company's stock, valued at $37,866,002.12. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Philip Watkins sold 3,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $75.67, for a total transaction of $227,010.00. Following the completion of the sale, the executive vice president owned 43,993 shares of the company's stock, valued at $3,328,950.31. This represents a 6.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 10.45% of the stock is owned by insiders.

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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