Community Bank System, Inc. (CBU) Stake Increased by Wells Fargo & Company MN

Wells Fargo & Company MN grew its holdings in Community Bank System, Inc. (NYSE:CBU) by 10.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,844 shares of the bank’s stock after acquiring an additional 5,818 shares during the period. Wells Fargo & Company MN owned about 0.12% of Community Bank System worth $3,449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in CBU. UBS Asset Management Americas Inc. increased its holdings in shares of Community Bank System by 38.5% in the first quarter. UBS Asset Management Americas Inc. now owns 25,488 shares of the bank’s stock worth $1,401,000 after purchasing an additional 7,082 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of Community Bank System in the first quarter worth about $504,000. Parametric Portfolio Associates LLC increased its holdings in shares of Community Bank System by 4.8% in the first quarter. Parametric Portfolio Associates LLC now owns 85,760 shares of the bank’s stock worth $4,715,000 after purchasing an additional 3,928 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Community Bank System by 11.3% in the first quarter. Prudential Financial Inc. now owns 85,344 shares of the bank’s stock worth $4,692,000 after purchasing an additional 8,660 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Community Bank System by 36.5% in the first quarter. SG Americas Securities LLC now owns 5,708 shares of the bank’s stock worth $314,000 after purchasing an additional 1,526 shares during the last quarter. Institutional investors and hedge funds own 68.96% of the company’s stock.

Shares of Community Bank System, Inc. (CBU) opened at 54.46 on Friday. The company has a market capitalization of $2.75 billion, a PE ratio of 26.04 and a beta of 1.10. Community Bank System, Inc. has a 52 week low of $45.79 and a 52 week high of $63.04. The firm’s 50-day moving average price is $53.86 and its 200 day moving average price is $54.55.

Community Bank System (NYSE:CBU) last released its earnings results on Monday, October 23rd. The bank reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.06. Community Bank System had a net margin of 21.00% and a return on equity of 9.22%. The business had revenue of $137.30 million for the quarter, compared to analyst estimates of $138.74 million. During the same period last year, the company posted $0.61 EPS. The business’s revenue was up 26.7% on a year-over-year basis. Equities analysts predict that Community Bank System, Inc. will post $2.58 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.50%. This is a positive change from Community Bank System’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, September 14th. Community Bank System’s dividend payout ratio (DPR) is 62.10%.

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In other Community Bank System news, Director Brian R. Ace sold 5,457 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $53.35, for a total value of $291,130.95. Following the transaction, the director now directly owns 55,647 shares of the company’s stock, valued at approximately $2,968,767.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Kallet Michael sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the completion of the transaction, the director now directly owns 11,603 shares in the company, valued at $614,959. The disclosure for this sale can be found here. Insiders sold a total of 20,457 shares of company stock worth $1,085,081 over the last three months. Corporate insiders own 3.20% of the company’s stock.

CBU has been the topic of several research reports. 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 report on Tuesday, September 12th. BidaskClub raised Community Bank System from a “strong sell” rating to a “sell” rating in a report on Friday, August 4th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Community Bank System in a report on Wednesday, August 2nd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $51.00 target price on shares of Community Bank System in a report on Thursday, August 3rd. Finally, DA Davidson set a $55.00 target price on Community Bank System and gave the stock a “hold” rating in a report on Tuesday. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Community Bank System has an average rating of “Hold” and an average target price of $55.20.

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.

Institutional Ownership by Quarter for Community Bank System (NYSE:CBU)

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