Great West Life Assurance Co. Can trimmed its stake in Community Bank System, Inc. (NYSE:CBU) by 4.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 68,502 shares of the bank’s stock after selling 2,951 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.14% of Community Bank System worth $3,754,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. American International Group Inc. lifted its stake in Community Bank System by 6.2% in the third quarter. American International Group Inc. now owns 39,068 shares of the bank’s stock valued at $2,159,000 after buying an additional 2,280 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Community Bank System by 4.1% in the third quarter. Macquarie Group Ltd. now owns 1,181,853 shares of the bank’s stock valued at $65,297,000 after buying an additional 46,753 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Community Bank System during the third quarter valued at about $151,000. Commonwealth Equity Services Inc raised its stake in shares of Community Bank System by 16.3% during the third quarter. Commonwealth Equity Services Inc now owns 27,706 shares of the bank’s stock valued at $1,530,000 after purchasing an additional 3,877 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Community Bank System by 9.8% during the third quarter. Advisors Asset Management Inc. now owns 19,689 shares of the bank’s stock valued at $1,088,000 after purchasing an additional 1,750 shares in the last quarter. Institutional investors own 69.21% of the company’s stock.
A number of brokerages recently weighed in on CBU. Zacks Investment Research cut shares of Community Bank System from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. DA Davidson set a $55.00 price objective on shares of Community Bank System and gave the company a “hold” rating in a research note on Tuesday, October 24th. They noted that the move was a valuation call. Keefe, Bruyette & Woods restated a “hold” rating and set a $54.00 price objective on shares of Community Bank System in a research note on Friday, October 13th. Finally, BidaskClub cut shares of Community Bank System from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Community Bank System currently has an average rating of “Hold” and an average target price of $55.20.
In related news, Director Brian R. Ace sold 5,457 shares of Community Bank System stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $53.35, for a total value of $291,130.95. Following the transaction, the director now owns 55,647 shares of the company’s stock, valued at approximately $2,968,767.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Kallet Michael sold 5,000 shares of Community Bank System stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $52.55, for a total value of $262,750.00. Following the completion of the transaction, the director now directly owns 16,603 shares in the company, valued at approximately $872,487.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,957 shares of company stock worth $1,507,931. 3.20% of the stock is owned by company insiders.
Shares of Community Bank System, Inc. (NYSE CBU) opened at $53.97 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.72 and a quick ratio of 0.72. Community Bank System, Inc. has a 1 year low of $48.89 and a 1 year high of $63.04. The company has a market cap of $2,731.38, a PE ratio of 19.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07.
Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Monday, October 23rd. The bank reported $0.73 EPS for the quarter, topping the 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 firm had revenue of $137.30 million for the quarter, compared to analysts’ expectations of $138.74 million. During the same period in the previous year, the business earned $0.61 earnings per share. Community Bank System’s revenue for the quarter was up 26.7% compared to the same quarter last year. equities analysts anticipate that Community Bank System, Inc. will post 2.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.52%. The ex-dividend date is Thursday, December 14th. Community Bank System’s dividend payout ratio (DPR) is presently 62.10%.
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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.
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