Cambridge Trust Co. acquired a new stake in shares of Community Bank System, Inc. (NYSE:CBU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,496 shares of the bank’s stock, valued at approximately $580,000.
Other large investors also recently modified their holdings of the company. Crawford Investment Counsel Inc. bought a new stake in Community Bank System in the 2nd quarter worth about $1,342,000. Comerica Bank lifted its position in shares of Community Bank System by 4.6% during the 2nd quarter. Comerica Bank now owns 51,559 shares of the bank’s stock valued at $2,812,000 after buying an additional 2,254 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Community Bank System by 15.0% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 40,059 shares of the bank’s stock valued at $2,234,000 after buying an additional 5,226 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Community Bank System by 14.1% during the 2nd quarter. Principal Financial Group Inc. now owns 415,221 shares of the bank’s stock valued at $23,157,000 after buying an additional 51,281 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Community Bank System by 12.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 91,759 shares of the bank’s stock valued at $5,117,000 after buying an additional 10,156 shares in the last quarter. Hedge funds and other institutional investors own 69.08% of the company’s stock.
Several analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Community Bank System in a report on Wednesday, August 2nd. BidaskClub cut Community Bank System from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $54.00 target price on shares of Community Bank System in a research report on Friday, October 13th. DA Davidson set a $55.00 target price on 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. Finally, Zacks Investment Research downgraded Community Bank System from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 2nd. Two equities 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 a consensus target price of $55.20.
In related news, Director R Kallet Michael sold 5,000 shares of Community Bank System 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 transaction, the director now owns 11,603 shares in the company, valued at $614,959. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brian R. Ace sold 5,457 shares of Community Bank System stock in a transaction that occurred on 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 in the company, valued at approximately $2,968,767.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,457 shares of company stock worth $1,085,081. 3.20% of the stock is owned by corporate insiders.
Shares of Community Bank System, Inc. (CBU) traded up $0.20 during midday trading on Friday, hitting $52.57. The company had a trading volume of 158,300 shares, compared to its average volume of 265,319. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.08. Community Bank System, Inc. has a 1 year low of $48.89 and a 1 year high of $63.04. The stock has a market cap of $2,660.00, a PE ratio of 19.33, a P/E/G ratio of 2.01 and a beta of 1.09.
Community Bank System (NYSE:CBU) last released its quarterly earnings results on Monday, October 23rd. The bank reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. Community Bank System had a return on equity of 9.22% and a net margin of 21.00%. The company 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 posted $0.61 earnings per share. The firm’s revenue was up 26.7% compared to the same quarter last year. analysts predict that Community Bank System, Inc. will post 2.61 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.59%. Community Bank System’s payout ratio is currently 63.85%.
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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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