Cubist Systematic Strategies LLC Acquires Shares of 10,123 Community Bank System, Inc. (CBU)

Cubist Systematic Strategies LLC purchased a new position in Community Bank System, Inc. (NYSE:CBU) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,123 shares of the bank’s stock, valued at approximately $559,000.

Several other large investors have also bought and sold shares of CBU. BlackRock Inc. increased its position in Community Bank System by 11.2% during the second quarter. BlackRock Inc. now owns 6,034,186 shares of the bank’s stock worth $336,527,000 after purchasing an additional 609,319 shares during the last quarter. State Street Corp increased its position in Community Bank System by 69.6% during the second quarter. State Street Corp now owns 5,020,816 shares of the bank’s stock worth $280,008,000 after purchasing an additional 2,059,920 shares during the last quarter. Vanguard Group Inc. increased its position in Community Bank System by 7.9% during the second quarter. Vanguard Group Inc. now owns 4,808,411 shares of the bank’s stock worth $268,165,000 after purchasing an additional 353,538 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Community Bank System by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,896,653 shares of the bank’s stock worth $104,789,000 after purchasing an additional 21,213 shares during the last quarter. Finally, Northern Trust Corp increased its position in Community Bank System by 6.8% during the second quarter. Northern Trust Corp now owns 1,459,745 shares of the bank’s stock worth $81,410,000 after purchasing an additional 92,700 shares during the last quarter. 69.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Community Bank System, Inc. (NYSE CBU) opened at $55.52 on Friday. Community Bank System, Inc. has a 12-month low of $48.89 and a 12-month high of $62.59. The firm has a market cap of $2,770.00, a PE ratio of 26.07, a price-to-earnings-growth ratio of 1.91 and a beta of 1.08. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.72 and a current ratio of 0.72.

Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Monday, October 23rd. The bank reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. Community Bank System had a net margin of 25.66% and a return on equity of 8.89%. The business had revenue of $137.30 million during the quarter, compared to analysts’ expectations of $138.74 million. During the same period last year, the business earned $0.61 earnings per share. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. equities research analysts anticipate that Community Bank System, Inc. will post 2.66 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Friday, December 15th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Thursday, December 14th. Community Bank System’s dividend payout ratio is presently 63.85%.

In other news, EVP Brian D. Donahue sold 5,535 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $55.19, for a total value of $305,476.65. Following the completion of the transaction, the executive vice president now owns 43,844 shares of the company’s stock, valued at $2,419,750.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director R Kallet Michael sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $56.38, for a total transaction of $422,850.00. Following the completion of the transaction, the director now directly owns 4,103 shares of the company’s stock, valued at approximately $231,327.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,440 shares of company stock valued at $862,488. Company insiders own 3.20% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Community Bank System from a “hold” rating to a “strong-buy” rating and set a $63.00 price objective for the company in a research report on Tuesday, December 26th. Sandler O’Neill upgraded shares of Community Bank System from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. DA Davidson set a $55.00 price objective on shares of Community Bank System and gave the stock a “hold” rating in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $54.00 price objective on shares of Community Bank System in a research report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $55.80.

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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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