Public Employees Retirement Association of Colorado continued to hold its stake in Community Bank System, Inc. (NYSE:CBU) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 423,867 shares of the bank’s stock at the end of the second quarter. Public Employees Retirement Association of Colorado owned approximately 0.92% of Community Bank System worth $23,639,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Community Bank System by 49,469.3% in the first quarter. BlackRock Inc. now owns 5,424,867 shares of the bank’s stock worth $298,260,000 after buying an additional 5,413,923 shares during the last quarter. Vanguard Group Inc. increased its position in Community Bank System by 7.4% in the first quarter. Vanguard Group Inc. now owns 4,454,873 shares of the bank’s stock valued at $244,929,000 after buying an additional 307,784 shares in the last quarter. State Street Corp increased its position in Community Bank System by 157.8% in the first quarter. State Street Corp now owns 2,960,896 shares of the bank’s stock valued at $162,779,000 after buying an additional 1,812,259 shares in the last quarter. Neuberger Berman Group LLC increased its position in Community Bank System by 4.9% in the first quarter. Neuberger Berman Group LLC now owns 2,390,198 shares of the bank’s stock valued at $131,413,000 after buying an additional 110,843 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Community Bank System by 5.4% in the first quarter. Bank of New York Mellon Corp now owns 664,599 shares of the bank’s stock valued at $36,539,000 after buying an additional 34,165 shares in the last quarter. 64.66% of the stock is currently owned by institutional investors and hedge funds.
Community Bank System, Inc. (NYSE CBU) traded up 0.25% during trading on Friday, reaching $51.64. The company had a trading volume of 162,347 shares. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 24.70 and a beta of 1.07. Community Bank System, Inc. has a 52 week low of $42.67 and a 52 week high of $63.04. The company’s 50-day moving average is $54.67 and its 200 day moving average is $55.91.
Community Bank System (NYSE:CBU) last released its earnings results on Monday, July 31st. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.13. The firm had revenue of $129.26 million during the quarter, compared to analyst estimates of $127 million. Community Bank System had a return on equity of 9.04% and a net margin of 20.63%. Community Bank System’s revenue was up 20.7% compared to the same quarter last year. During the same period last year, the business posted $0.58 earnings per share. Equities analysts anticipate that Community Bank System, Inc. will post $2.57 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be issued a $0.34 dividend. The ex-dividend date is Thursday, September 14th. This is a positive change from Community Bank System’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 2.63%. Community Bank System’s dividend payout ratio (DPR) is 60.38%.
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Several equities analysts have recently weighed in on the company. BidaskClub downgraded Community Bank System from a “sell” rating to a “strong sell” rating in a research report on Monday. Piper Jaffray Companies restated a “hold” rating and set a $51.00 price objective on shares of Community Bank System in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada boosted their price objective on Community Bank System from $41.00 to $56.00 and gave the company a “sector perform” rating in a report on Tuesday, May 16th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Community Bank System has an average rating of “Hold” and a consensus price target of $53.60.
In related news, Director Edward S. Mucenski sold 3,000 shares of Community Bank System stock in a transaction on Monday, June 12th. The stock was sold at an average price of $57.96, for a total value of $173,880.00. Following the completion of the transaction, the director now directly owns 3,186 shares in the company, valued at $184,660.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.20% of the company’s stock.
About Community Bank System
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.
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