Community Bank System, Inc. (NYSE:CBU) Director R Kallet Michael sold 5,000 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $53.00, for a total value of $265,000.00. Following the completion of the sale, the director now owns 11,603 shares in the company, valued at approximately $614,959. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
R Kallet Michael also recently made the following trade(s):
- On Monday, September 18th, R Kallet Michael sold 5,000 shares of Community Bank System stock. The stock was sold at an average price of $52.55, for a total value of $262,750.00.
Community Bank System, Inc. (CBU) traded up 1.38% on Wednesday, reaching $53.08. The company had a trading volume of 184,261 shares. The stock has a market capitalization of $2.68 billion, a PE ratio of 25.38 and a beta of 1.09. Community Bank System, Inc. has a 12-month low of $42.67 and a 12-month high of $63.04. The stock’s 50 day moving average price is $52.40 and its 200-day moving average price is $54.63.
Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Monday, July 31st. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.60 by $0.13. The business had revenue of $129.26 million for the quarter, compared to analysts’ expectations of $127.00 million. Community Bank System had a net margin of 20.63% and a return on equity of 9.04%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 EPS. Equities analysts expect that Community Bank System, Inc. will post $2.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be paid a $0.34 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.36 annualized dividend and a yield of 2.56%. This is a boost from Community Bank System’s previous quarterly dividend of $0.32. Community Bank System’s payout ratio is presently 64.15%.
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A number of research analysts recently commented on the company. Piper Jaffray Companies reissued a “hold” rating and issued a $51.00 target price on shares of Community Bank System in a research note on Thursday, August 3rd. BidaskClub cut Community Bank System from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Zacks Investment Research raised Community Bank System from a “hold” rating to a “strong-buy” rating and set a $58.00 target price on the stock in a research note on Tuesday, September 12th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Community Bank System in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $54.80.
A number of hedge funds have recently made changes to their positions in CBU. LS Investment Advisors LLC lifted its stake in Community Bank System by 8.2% in the 2nd quarter. LS Investment Advisors LLC now owns 1,814 shares of the bank’s stock worth $101,000 after purchasing an additional 137 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Community Bank System by 62.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,906 shares of the bank’s stock worth $105,000 after purchasing an additional 733 shares in the last quarter. Cutler Group LP lifted its stake in Community Bank System by 118.7% in the 2nd quarter. Cutler Group LP now owns 2,016 shares of the bank’s stock worth $112,000 after purchasing an additional 12,800 shares in the last quarter. Meadow Creek Investment Management LLC purchased a new stake in Community Bank System in the 1st quarter worth $126,000. Finally, Pacad Investment Ltd. purchased a new stake in Community Bank System in the 2nd quarter worth $139,000. Institutional investors and hedge funds own 68.98% 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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