California Public Employees Retirement System lessened its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,001 shares of the bank’s stock after selling 3,333 shares during the quarter. California Public Employees Retirement System owned approximately 0.14% of Community Bank System worth $3,978,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of CBU. NJ State Employees Deferred Compensation Plan raised its stake in shares of Community Bank System by 20.0% during the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 12,000 shares of the bank’s stock valued at $663,000 after buying an additional 2,000 shares during the last quarter. Cambridge Trust Co. acquired a new stake in shares of Community Bank System during the 3rd quarter valued at about $580,000. Swiss National Bank grew its position in shares of Community Bank System by 14.0% during the 2nd quarter. Swiss National Bank now owns 83,800 shares of the bank’s stock valued at $4,674,000 after acquiring an additional 10,300 shares during the period. Teachers Advisors LLC grew its position in shares of Community Bank System by 6.2% during the 2nd quarter. Teachers Advisors LLC now owns 91,545 shares of the bank’s stock valued at $5,105,000 after acquiring an additional 5,372 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Community Bank System by 7.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,808,411 shares of the bank’s stock valued at $268,165,000 after acquiring an additional 353,538 shares during the period. Hedge funds and other institutional investors own 69.19% of the company’s stock.
Several equities research analysts recently issued reports on CBU shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $54.00 price objective on shares of Community Bank System in a report on Friday, October 13th. Zacks Investment Research cut Community Bank System from a “strong-buy” rating to a “hold” rating in a report on Monday, October 2nd. DA Davidson set a $55.00 target price on shares of Community Bank System and gave the stock a “hold” rating in a research note on Tuesday, October 24th. They noted that the move was a valuation call. Finally, Sandler O’Neill raised shares of Community Bank System from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $55.80.
In other Community Bank System news, EVP Brian D. Donahue sold 5,535 shares of the company’s stock in a transaction 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 in the company, valued at $2,419,750.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nicholas A. Dicerbo sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $56.00, for a total transaction of $112,000.00. Following the completion of the sale, the director now directly owns 184,622 shares of the company’s stock, valued at $10,338,832. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,440 shares of company stock valued at $862,488. Insiders own 3.20% of the company’s stock.
Shares of Community Bank System, Inc. (NYSE CBU) opened at $54.55 on Friday. The stock has a market capitalization of $2,804.76, a P/E ratio of 24.91, 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 current ratio of 0.72 and a quick ratio of 0.72. Community Bank System, Inc. has a 12-month low of $48.89 and a 12-month high of $62.59.
Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.06. The business had revenue of $137.30 million during the quarter, compared to the consensus estimate of $138.74 million. Community Bank System had a net margin of 21.00% and a return on equity of 9.22%. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. equities research analysts expect that Community Bank System, Inc. will post 2.6 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Friday, December 15th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.49%. Community Bank System’s payout ratio is currently 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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