Algert Global LLC Takes $642,000 Position in Community Bank System, Inc. (NYSE:CBU)

Algert Global LLC acquired a new position in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,603 shares of the bank's stock, valued at approximately $642,000.

A number of other institutional investors have also recently bought and sold shares of CBU. Point72 DIFC Ltd bought a new stake in shares of Community Bank System in the second quarter worth about $76,000. Benjamin Edwards Inc. increased its stake in Community Bank System by 40.7% during the 1st quarter. Benjamin Edwards Inc. now owns 2,695 shares of the bank's stock worth $129,000 after purchasing an additional 780 shares in the last quarter. IFG Advisory LLC bought a new stake in Community Bank System during the 2nd quarter worth approximately $212,000. QRG Capital Management Inc. raised its holdings 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 worth $231,000 after buying an additional 212 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in Community Bank System in the second quarter valued at approximately $231,000. Institutional investors and hedge funds own 73.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Raymond James lowered shares of Community Bank System from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $59.00 price objective on shares of Community Bank System in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $50.50.

Community Bank System Stock Up 1.5 %

CBU stock traded up $0.84 during mid-day trading on Friday, reaching $58.17. The company had a trading volume of 189,957 shares, compared to its average volume of 287,453. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 18.29 and a beta of 0.64. Community Bank System, Inc. has a 52 week low of $35.38 and a 52 week high of $63.95. The stock has a 50 day simple moving average of $58.65 and a two-hundred day simple moving average of $51.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.76 and a quick ratio of 0.76.

Community Bank System (NYSE:CBU - Get Free Report) last released its earnings results on Tuesday, July 23rd. The bank reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.14. The business had revenue of $183.80 million during the quarter, compared to analysts' expectations of $180.05 million. Community Bank System had a net margin of 15.90% and a return on equity of 8.94%. The firm's revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $0.91 earnings per share. As a group, equities analysts predict that Community Bank System, Inc. will post 3.42 earnings per share for the current fiscal year.

Community Bank System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 13th will be paid a $0.46 dividend. This is an increase from Community Bank System's previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, September 13th. Community Bank System's dividend payout ratio (DPR) is 57.86%.

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.