Teachers Advisors LLC raised its holdings in Community Bank System, Inc. (NYSE:CBU) by 6.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,545 shares of the bank’s stock after acquiring an additional 5,372 shares during the quarter. Teachers Advisors LLC owned 0.18% of Community Bank System worth $5,105,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. LS Investment Advisors LLC lifted its holdings in Community Bank System by 8.2% in the 2nd quarter. LS Investment Advisors LLC now owns 1,814 shares of the bank’s stock valued at $101,000 after acquiring an additional 137 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Community Bank System by 62.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,906 shares of the bank’s stock valued at $105,000 after acquiring an additional 733 shares during the last quarter. Cutler Group LP lifted its holdings in Community Bank System by 118.7% in the 2nd quarter. Cutler Group LP now owns 2,016 shares of the bank’s stock valued at $112,000 after acquiring an additional 12,800 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in Community Bank System in the 2nd quarter valued at about $139,000. Finally, Riverhead Capital Management LLC lifted its holdings in Community Bank System by 104.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,862 shares of the bank’s stock valued at $160,000 after acquiring an additional 1,462 shares during the last quarter. 68.98% of the stock is owned by institutional investors.
In other Community Bank System news, Director R Kallet Michael sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $52.55, for a total transaction of $262,750.00. Following the transaction, the director now owns 16,603 shares in the company, valued at $872,487.65. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Brian R. Ace sold 5,457 shares of the firm’s 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 in the company, valued at approximately $2,968,767.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,457 shares of company stock worth $1,085,081. Company insiders own 3.20% of the company’s stock.
CBU has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Community Bank System from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Zacks Investment Research raised shares of Community Bank System from a “hold” rating to a “strong-buy” rating and set a $58.00 price target for the company in a report on Tuesday, September 12th. Piper Jaffray Companies reissued a “hold” rating and issued a $51.00 price target on shares of Community Bank System in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Community Bank System in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Community Bank System currently has an average rating of “Hold” and a consensus price target of $54.80.
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Shares of Community Bank System, Inc. (CBU) opened at 56.21 on Wednesday. Community Bank System, Inc. has a 12-month low of $42.67 and a 12-month high of $63.04. The firm’s 50-day moving average price is $52.84 and its 200 day moving average price is $54.45. The firm has a market cap of $2.84 billion, a P/E ratio of 26.88 and a beta of 1.10.
Community Bank System (NYSE:CBU) last issued its earnings results on Monday, July 31st. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.13. Community Bank System had a return on equity of 9.04% and a net margin of 20.63%. The firm had revenue of $129.26 million for the quarter, compared to analysts’ expectations of $127.00 million. During the same quarter last year, the business earned $0.58 earnings per share. The company’s revenue was up 20.7% compared to the same quarter last year. On average, equities analysts expect that Community Bank System, Inc. will post $2.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, September 14th. This represents a $1.36 dividend on an annualized basis and a yield of 2.42%. This is a boost from Community Bank System’s previous quarterly dividend of $0.32. Community Bank System’s dividend payout ratio (DPR) is 64.15%.
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.
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