California Public Employees Retirement System cut its position in Community Bank System, Inc. (NYSE:CBU) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,001 shares of the bank’s stock after selling 3,333 shares during the period. California Public Employees Retirement System owned 0.14% of Community Bank System worth $3,978,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. NJ State Employees Deferred Compensation Plan raised its holdings in shares of Community Bank System by 20.0% in the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 12,000 shares of the bank’s stock worth $663,000 after purchasing an additional 2,000 shares during the period. Cambridge Trust Co. bought a new stake in Community Bank System during the 3rd quarter valued at $580,000. Swiss National Bank raised its holdings in 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 raised its holdings in 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 purchasing an additional 353,538 shares in the last quarter. Institutional investors own 69.08% of the company’s stock.
A number of research analysts have recently commented on CBU shares. Zacks Investment Research upgraded shares of Community Bank System from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Wednesday, October 25th. DA Davidson set a $55.00 price target on shares of Community Bank System and gave the company a “hold” rating in a research report 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 target on shares of Community Bank System in a research report on Friday, October 13th. Boenning Scattergood restated a “hold” rating on shares of Community Bank System in a research report on Monday, January 22nd. Finally, 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $56.60.
Shares of Community Bank System, Inc. (CBU) traded up $0.05 during trading hours on Friday, reaching $54.31. 227,351 shares of the company traded hands, compared to its average volume of 305,279. Community Bank System, Inc. has a one year low of $48.89 and a one year high of $61.25. The stock has a market capitalization of $2,750.76, a price-to-earnings ratio of 18.10, a PEG ratio of 1.81 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.75 and a quick ratio of 0.72.
Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Monday, January 22nd. The bank reported $0.71 EPS for the quarter, meeting the consensus estimate of $0.71. The firm had revenue of $139.90 million during the quarter, compared to the consensus estimate of $138.09 million. Community Bank System had a net margin of 28.34% and a return on equity of 9.18%. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 earnings per share. equities analysts predict that Community Bank System, Inc. will post 3 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Friday, December 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, December 14th. Community Bank System’s payout ratio is currently 45.33%.
In related news, Director Nicholas A. Dicerbo sold 2,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $56.00, for a total value of $112,000.00. Following the completion of the transaction, the director now directly owns 184,622 shares of the company’s stock, valued at $10,338,832. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brian D. Donahue sold 5,535 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $55.19, for a total transaction of $305,476.65. Following the completion of the sale, the executive vice president now owns 43,844 shares in the company, valued at approximately $2,419,750.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,440 shares of company stock valued at $862,488. 3.20% of the stock is owned by insiders.
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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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