Intech Investment Management LLC Takes $716,000 Position in Community Bank System, Inc. (NYSE:CBU)

Intech Investment Management LLC acquired a new position in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,329 shares of the bank's stock, valued at approximately $716,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Community Bank System by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,219 shares of the bank's stock worth $1,644,000 after buying an additional 1,897 shares in the last quarter. Tidal Investments LLC lifted its stake in Community Bank System by 239.1% in the first quarter. Tidal Investments LLC now owns 17,257 shares of the bank's stock worth $829,000 after purchasing an additional 12,168 shares during the last quarter. Boston Partners purchased a new stake in Community Bank System during the first quarter valued at about $3,558,000. Fulton Bank N.A. grew its stake in shares of Community Bank System by 13.9% during the second quarter. Fulton Bank N.A. now owns 7,376 shares of the bank's stock valued at $348,000 after buying an additional 900 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of Community Bank System by 4.5% in the second quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank's stock worth $231,000 after buying an additional 212 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of the stock in a transaction 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 transaction, the director now owns 5,823 shares in the company, valued at approximately $425,661.30. This represents a 40.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.89% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CBU shares. Raymond James upgraded 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 research report on Monday, October 28th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $59.00 target price on shares of Community Bank System in a report on Tuesday, September 10th.

Community Bank System Trading Down 0.5 %

Shares of NYSE CBU traded down $0.37 during trading hours on Friday, hitting $69.23. The company's stock had a trading volume of 134,916 shares, compared to its average volume of 281,037. 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 cap of $3.64 billion, a price-to-earnings ratio of 21.57 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 0.76. The business has a 50-day simple moving average of $62.82 and a 200-day simple moving average of $56.40.

Community Bank System (NYSE:CBU - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $188.94 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. On average, analysts anticipate that Community Bank System, Inc. will post 3.38 earnings per share for the current fiscal year.

Community Bank System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders 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 annualized dividend and a dividend yield of 2.66%. Community Bank System's dividend payout ratio is 57.32%.

About Community Bank System

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.