Invesco LLC Takes Position in Community Bank System, Inc. (NYSE:CBU)

Invesco LLC bought a new position in shares of Community Bank System, Inc. (NYSE:CBU) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,470 shares of the bank’s stock, valued at approximately $181,000.

Several other hedge funds have also recently added to or reduced their stakes in CBU. BlackRock Inc. increased its position in shares of Community Bank System by 0.6% in the 1st quarter. BlackRock Inc. now owns 7,943,008 shares of the bank’s stock valued at $557,203,000 after purchasing an additional 50,524 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Community Bank System by 1.0% during the third quarter. Vanguard Group Inc. now owns 6,521,304 shares of the bank’s stock worth $391,801,000 after purchasing an additional 65,454 shares in the last quarter. State Street Corp increased its holdings in Community Bank System by 9.0% in the first quarter. State Street Corp now owns 5,690,269 shares of the bank’s stock valued at $301,154,000 after buying an additional 470,564 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Community Bank System by 328.7% in the second quarter. Goldman Sachs Group Inc. now owns 2,681,777 shares of the bank’s stock valued at $125,722,000 after buying an additional 2,056,276 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Community Bank System by 8.8% in the 3rd quarter. Morgan Stanley now owns 2,078,454 shares of the bank’s stock valued at $87,732,000 after acquiring an additional 167,729 shares during the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Bank System Trading Down 0.8 %

CBU opened at $42.57 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.27. Community Bank System, Inc. has a 52 week low of $35.38 and a 52 week high of $55.64. The business’s 50 day moving average is $45.33 and its two-hundred day moving average is $45.84. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 16.83 and a beta of 0.66.

Community Bank System (NYSE:CBU) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.08). Community Bank System had a return on equity of 9.15% and a net margin of 13.78%. The business had revenue of $177.00 million for the quarter, compared to analysts’ expectations of $175.25 million. During the same quarter last year, the business posted $0.96 earnings per share. The business’s revenue was up .6% on a year-over-year basis. On average, research analysts predict that Community Bank System, Inc. will post 3.24 EPS for the current year.

Community Bank System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 annualized dividend and a dividend yield of 4.23%. Community Bank System’s dividend payout ratio (DPR) is 71.15%.

Insider Activity at Community Bank System

In other Community Bank System news, Director Sally A. Steele sold 3,501 shares of Community Bank System stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $48.76, for a total value of $170,708.76. Following the transaction, the director now directly owns 33,634 shares in the company, valued at approximately $1,639,993.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Community Bank System news, Director Sally A. Steele sold 3,501 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $48.76, for a total transaction of $170,708.76. Following the completion of the transaction, the director now owns 33,634 shares in the company, valued at approximately $1,639,993.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dimitar Karaivanov purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were purchased at an average cost of $43.70 per share, with a total value of $43,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 16,265 shares of the company’s stock, valued at $710,780.50. The disclosure for this purchase can be found here. 1.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CBU shares. DA Davidson restated a “neutral” rating and set a $50.00 target price on shares of Community Bank System in a research note on Thursday, March 14th. StockNews.com upgraded shares of Community Bank System to a “sell” rating in a report on Friday, January 19th. Finally, Raymond James lifted their price target on shares of Community Bank System from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $47.67.

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, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.