JPMorgan Chase & Co. raised its stake in Community Bank System, Inc. (NYSE:CBU - Free Report) by 210.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 348,405 shares of the bank's stock after buying an additional 236,028 shares during the quarter. JPMorgan Chase & Co. owned about 0.66% of Community Bank System worth $21,490,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. FMR LLC increased its holdings in Community Bank System by 21.2% in the 3rd quarter. FMR LLC now owns 61,439 shares of the bank's stock valued at $3,568,000 after purchasing an additional 10,727 shares during the last quarter. Stifel Financial Corp lifted its stake in Community Bank System by 3.7% during the 3rd quarter. Stifel Financial Corp now owns 30,751 shares of the bank's stock worth $1,786,000 after acquiring an additional 1,085 shares in the last quarter. Jane Street Group LLC boosted its holdings in Community Bank System by 151.8% during the 3rd quarter. Jane Street Group LLC now owns 127,227 shares of the bank's stock valued at $7,388,000 after acquiring an additional 76,703 shares during the period. MML Investors Services LLC increased its stake in Community Bank System by 8.4% during the third quarter. MML Investors Services LLC now owns 12,641 shares of the bank's stock worth $734,000 after purchasing an additional 979 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Community Bank System during the third quarter worth about $451,000. Hedge funds and other institutional investors own 73.79% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Keefe, Bruyette & Woods upped their target price on shares of Community Bank System from $74.00 to $76.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 22nd.
Get Our Latest Report on Community Bank System
Insider Buying and Selling
In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of Community Bank System stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $65.98, for a total transaction of $74,953.28. Following the completion of the sale, the senior vice president now directly owns 6,539 shares of the company's stock, valued at $431,443.22. The trade was a 14.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.89% of the company's stock.
Community Bank System Stock Up 1.8 %
CBU traded up $0.96 on Tuesday, hitting $53.21. 45,765 shares of the company were exchanged, compared to its average volume of 260,604. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 15.47 and a beta of 0.74. The firm has a 50-day moving average price of $59.16 and a two-hundred day moving average price of $62.18. Community Bank System, Inc. has a twelve month low of $41.50 and a twelve month high of $73.39.
Community Bank System (NYSE:CBU - Get Free Report) last released its earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.04. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The firm had revenue of $196.30 million for the quarter, compared to analyst estimates of $190.95 million. During the same period in the prior year, the firm earned $0.76 earnings per share. The business's quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities analysts predict that Community Bank System, Inc. will post 4.18 earnings per share for the current year.
Community Bank System Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Friday, March 14th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.46%. Community Bank System's payout ratio is currently 53.49%.
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.
Recommended Stories
Before you consider Community Bank System, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Community Bank System wasn't on the list.
While Community Bank System currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
