Charles Schwab Investment Management Inc. boosted its holdings in Community Bank System, Inc. (NYSE:CBU - Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 652,991 shares of the bank's stock after purchasing an additional 9,863 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.24% of Community Bank System worth $37,919,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in Community Bank System in the 2nd quarter valued at $76,000. KBC Group NV lifted its stake in Community Bank System by 23.6% during the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank's stock valued at $105,000 after acquiring an additional 347 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Community Bank System by 27.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank's stock valued at $162,000 after acquiring an additional 741 shares in the last quarter. IFG Advisory LLC bought a new position in Community Bank System during the 2nd quarter valued at $212,000. Finally, QRG Capital Management Inc. lifted its stake in Community Bank System by 4.5% during the 2nd quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank's stock valued at $231,000 after acquiring an additional 212 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company's stock.
Community Bank System Price Performance
CBU stock traded down $1.08 during mid-day trading on Tuesday, reaching $68.02. 153,352 shares of the company traded hands, compared to its average volume of 242,593. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $3.58 billion, a P/E ratio of 21.19 and a beta of 0.65. Community Bank System, Inc. has a 52-week low of $41.50 and a 52-week high of $73.39. The company has a fifty day moving average price of $63.02 and a 200-day moving average price of $56.61.
Community Bank System (NYSE:CBU - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing analysts' consensus estimates of $0.88 by ($0.05). Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The company had revenue of $188.94 million for the quarter, compared to analysts' expectations of $186.35 million. During the same period in the previous year, the firm earned $0.82 EPS. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that Community Bank System, Inc. will post 3.38 earnings per share for the current year.
Community Bank System Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a yield of 2.71%. Community Bank System's payout ratio is 57.32%.
Insider Buying and Selling
In other Community Bank System news, Director John F. Whipple sold 3,937 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $73.10, for a total value of $287,794.70. Following the completion of the sale, the director now owns 5,823 shares in the company, valued at approximately $425,661.30. The trade was a 40.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.78% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on CBU shares. Keefe, Bruyette & Woods restated a "market perform" rating and set a $59.00 price objective on shares of Community Bank System in a research note on Tuesday, September 10th. Raymond James upgraded Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 price objective on the stock in a research note on Monday, October 28th.
Get Our Latest Stock Analysis on Community Bank System
About Community Bank System
(
Free Report)
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.
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