Citigroup Inc. lifted its holdings in Community Bank System, Inc. (NYSE:CBU - Free Report) by 9.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,742 shares of the bank's stock after purchasing an additional 8,356 shares during the period. Citigroup Inc. owned about 0.18% of Community Bank System worth $5,618,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Community Bank System by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,770,648 shares of the bank's stock worth $83,588,000 after acquiring an additional 142,909 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Community Bank System by 164.9% during the second quarter. Victory Capital Management Inc. now owns 213,167 shares of the bank's stock valued at $10,064,000 after purchasing an additional 132,697 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Community Bank System by 152.9% in the second quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank's stock worth $8,611,000 after purchasing an additional 110,288 shares during the period. Boston Partners bought a new stake in shares of Community Bank System during the 1st quarter valued at $3,558,000. Finally, Federated Hermes Inc. lifted its stake in shares of Community Bank System by 6.8% during the 2nd quarter. Federated Hermes Inc. now owns 691,879 shares of the bank's stock valued at $32,664,000 after buying an additional 44,137 shares in the last quarter. Hedge funds and other institutional investors own 73.79% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Raymond James raised Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 price target on the stock in a report on Monday, October 28th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $59.00 target price on shares of Community Bank System in a research note on Tuesday, September 10th.
Read Our Latest Report on Community Bank System
Community Bank System Price Performance
NYSE CBU traded down $0.11 on Monday, reaching $69.13. The company had a trading volume of 209,526 shares, compared to its average volume of 280,729. The firm's 50 day moving average price is $63.02 and its 200 day moving average price is $56.61. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month high of $73.39. The stock has a market capitalization of $3.63 billion, a PE ratio of 21.53 and a beta of 0.62. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.35.
Community Bank System (NYSE:CBU - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $0.88 by ($0.05). The firm had revenue of $188.94 million during the quarter, compared to analysts' expectations of $186.35 million. Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. Community Bank System's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. As a group, equities analysts predict that Community Bank System, Inc. will post 3.38 earnings per share for the current year.
Community Bank System Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, December 13th. Community Bank System's dividend payout ratio (DPR) is presently 57.32%.
Insider Buying and Selling
In related news, Director John F. Whipple sold 3,937 shares of Community Bank System stock in a transaction dated 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 transaction, the director now owns 5,823 shares in the company, valued at approximately $425,661.30. This trade represents a 40.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.89% of the stock is currently owned by company insiders.
Community Bank System Company Profile
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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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