Strs Ohio Has $182,000 Position in Community Bank System, Inc. (CBU)

Strs Ohio reduced its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 21.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,300 shares of the bank’s stock after selling 900 shares during the period. Strs Ohio’s holdings in Community Bank System were worth $182,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Community Bank System by 11.2% in the 2nd quarter. BlackRock Inc. now owns 6,034,186 shares of the bank’s stock worth $336,527,000 after acquiring an additional 609,319 shares in the last quarter. State Street Corp raised its position in shares of Community Bank System by 69.6% in the 2nd quarter. State Street Corp now owns 5,020,816 shares of the bank’s stock worth $280,008,000 after acquiring an additional 2,059,920 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Community Bank System by 7.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,808,411 shares of the bank’s stock worth $268,165,000 after acquiring an additional 353,538 shares in the last quarter. Northern Trust Corp raised its position in shares of Community Bank System by 6.8% in the 2nd quarter. Northern Trust Corp now owns 1,459,745 shares of the bank’s stock worth $81,410,000 after acquiring an additional 92,700 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Community Bank System by 7.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,201,394 shares of the bank’s stock worth $67,001,000 after acquiring an additional 84,015 shares in the last quarter. 69.08% of the stock is owned by institutional investors and hedge funds.

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In other 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 value of $262,750.00. Following the completion of the sale, the director now directly owns 16,603 shares in the company, valued at approximately $872,487.65. 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 the firm’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $53.35, for a total value of $291,130.95. Following the completion of the sale, the director now owns 55,647 shares of the company’s stock, valued at $2,968,767.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,457 shares of company stock valued at $1,085,081. 3.20% of the stock is currently owned by company insiders.

Several research analysts have recently weighed in on CBU shares. Zacks Investment Research raised Community Bank System from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Wednesday, October 25th. DA Davidson set a $55.00 price objective on 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. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $54.00 price objective on shares of Community Bank System in a research report on Friday, October 13th. Piper Jaffray Companies reissued a “hold” rating and issued a $51.00 price objective on shares of Community Bank System in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Community Bank System in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $55.20.

Shares of Community Bank System, Inc. (NYSE:CBU) opened at $51.38 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.74 and a quick ratio of 0.71. The company has a market capitalization of $2,600.29, a PE ratio of 18.96, a PEG ratio of 1.97 and a beta of 1.09. Community Bank System, Inc. has a 12 month low of $48.89 and a 12 month high of $63.04.

Community Bank System (NYSE:CBU) last issued its earnings results on Monday, October 23rd. The bank reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. The company had revenue of $137.30 million during the quarter, compared to the consensus estimate of $138.74 million. Community Bank System had a return on equity of 9.22% and a net margin of 21.00%. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period last year, the business posted $0.61 EPS. analysts anticipate that Community Bank System, Inc. will post 2.61 earnings per share for the current year.

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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Institutional Ownership by Quarter for Community Bank System (NYSE:CBU)

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