APG Asset Management N.V. Acquires Shares of 34,100 Community Bank System, Inc. (NYSE:CBU)

APG Asset Management N.V. bought a new stake in Community Bank System, Inc. (NYSE:CBU) in the first quarter, HoldingsChannel reports. The firm bought 34,100 shares of the bank’s stock, valued at approximately $1,815,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBU. Profund Advisors LLC grew its stake in Community Bank System by 3.3% in the fourth quarter. Profund Advisors LLC now owns 5,476 shares of the bank’s stock worth $388,000 after purchasing an additional 175 shares during the period. Toronto Dominion Bank lifted its position in Community Bank System by 46.2% during the fourth quarter. Toronto Dominion Bank now owns 614 shares of the bank’s stock valued at $44,000 after buying an additional 194 shares during the period. Private Capital Group LLC boosted its holdings in shares of Community Bank System by 78.6% during the 1st quarter. Private Capital Group LLC now owns 509 shares of the bank’s stock valued at $30,000 after buying an additional 224 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Community Bank System by 0.4% in the 4th quarter. Alliancebernstein L.P. now owns 79,815 shares of the bank’s stock worth $5,662,000 after buying an additional 300 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Community Bank System by 5.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 7,262 shares of the bank’s stock worth $427,000 after acquiring an additional 355 shares in the last quarter. Institutional investors own 71.95% of the company’s stock.

A number of brokerages have weighed in on CBU. Stephens assumed coverage on shares of Community Bank System in a report on Monday, June 1st. They issued an “equal weight” rating on the stock. Hovde Group lowered Community Bank System from an “outperform” rating to a “market perform” rating and set a $65.00 price objective for the company. in a research report on Monday, March 30th. Finally, Zacks Investment Research raised Community Bank System from a “sell” rating to a “hold” rating and set a $63.00 target price on the stock in a research note on Monday, June 22nd.

In other news, COO Scott Allen Kingsley sold 5,044 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $60.67, for a total transaction of $306,019.48. Following the completion of the transaction, the chief operating officer now directly owns 55,135 shares of the company’s stock, valued at $3,345,040.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Kallet Michael sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $60.85, for a total transaction of $182,550.00. Following the transaction, the director now owns 43,909 shares in the company, valued at approximately $2,671,862.65. The disclosure for this sale can be found here. Insiders sold a total of 15,503 shares of company stock valued at $959,014 over the last quarter. 2.10% of the stock is owned by corporate insiders.

NYSE:CBU opened at $57.02 on Wednesday. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 17.00 and a beta of 0.76. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average price is $57.13 and its 200-day moving average price is $62.86. Community Bank System, Inc. has a 52 week low of $47.01 and a 52 week high of $72.63.

Community Bank System (NYSE:CBU) last issued its earnings results on Monday, April 20th. The bank reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. Community Bank System had a return on equity of 9.20% and a net margin of 26.82%. The business had revenue of $148.30 million for the quarter, compared to the consensus estimate of $148.74 million. During the same period last year, the business posted $0.81 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Community Bank System, Inc. will post 2.52 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.64 annualized dividend and a dividend yield of 2.88%. Community Bank System’s dividend payout ratio (DPR) is presently 49.85%.

Community Bank System Profile

Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and other financial services to retail, commercial, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.

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

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