Bank of America Corp DE raised its stake in Community Bank System, Inc. (NYSE:CBU) by 60.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 85,250 shares of the bank’s stock after buying an additional 32,090 shares during the period. Bank of America Corp DE owned about 0.19% of Community Bank System worth $4,687,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in Community Bank System by 1.6% in the first quarter. Janney Montgomery Scott LLC now owns 20,642 shares of the bank’s stock worth $1,135,000 after buying an additional 320 shares in the last quarter. Glen Harbor Capital Management LLC purchased a new stake in Community Bank System during the first quarter worth $153,000. ProShare Advisors LLC boosted its stake in Community Bank System by 15.8% in the first quarter. ProShare Advisors LLC now owns 123,645 shares of the bank’s stock worth $6,798,000 after buying an additional 16,861 shares in the last quarter. IFC Holdings Incorporated FL boosted its stake in Community Bank System by 0.4% in the first quarter. IFC Holdings Incorporated FL now owns 16,487 shares of the bank’s stock worth $907,000 after buying an additional 68 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Community Bank System by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,920 shares of the bank’s stock worth $270,000 after buying an additional 100 shares in the last quarter. Institutional investors own 70.64% of the company’s stock.
Community Bank System, Inc. (CBU) traded down 0.31% during midday trading on Wednesday, hitting $55.28. The company had a trading volume of 6,553 shares. The company’s 50 day moving average is $55.58 and its 200 day moving average is $56.35. Community Bank System, Inc. has a 12-month low of $42.67 and a 12-month high of $63.04. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 23.63 and a beta of 1.07.
Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Monday, July 31st. The bank reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.13. Community Bank System had a net margin of 20.63% and a return on equity of 9.63%. The business had revenue of $129.26 million for the quarter, compared to analyst estimates of $127 million. During the same quarter last year, the business earned $0.58 earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities analysts anticipate that Community Bank System, Inc. will post $2.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 10th. Investors of record on Thursday, June 15th were paid a dividend of $0.32 per share. The ex-dividend date was Tuesday, June 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.31%. Community Bank System’s dividend payout ratio is presently 60.38%.
CBU has been the topic of a number of research reports. BidaskClub cut Community Bank System from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Royal Bank Of Canada upped their price target on Community Bank System from $41.00 to $56.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 16th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $54.25.
In related news, Director Nicholas A. Dicerbo sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $56.03, for a total transaction of $168,090.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.20% of the stock is owned by company insiders.
Community Bank System Company Profile
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.
Want to see what other hedge funds are holding CBU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Community Bank System, Inc. (NYSE:CBU).
Receive News & Ratings for Community Bank System Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Bank System Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
