Paloma Partners Management Co Purchases New Shares in Community Bank System, Inc. (NYSE:CBU)

Paloma Partners Management Co acquired a new position in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,674 shares of the bank's stock, valued at approximately $562,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CBU. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Community Bank System by 29.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,222 shares of the bank's stock worth $710,000 after buying an additional 2,748 shares during the period. Stone House Investment Management LLC raised its holdings in Community Bank System by 51.0% during the 3rd quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank's stock worth $137,000 after buying an additional 797 shares during the period. BNP Paribas Financial Markets raised its holdings in Community Bank System by 56.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 22,582 shares of the bank's stock worth $1,311,000 after buying an additional 8,113 shares during the period. FMR LLC raised its holdings in Community Bank System by 21.2% during the 3rd quarter. FMR LLC now owns 61,439 shares of the bank's stock worth $3,568,000 after buying an additional 10,727 shares during the period. Finally, Advantage Alpha Capital Partners LP raised its holdings in Community Bank System by 26.1% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 8,910 shares of the bank's stock worth $517,000 after buying an additional 1,844 shares during the period. Institutional investors own 73.79% of the company's stock.

Community Bank System Stock Performance

Shares of Community Bank System stock traded up $1.35 during trading on Wednesday, reaching $69.36. The company's stock had a trading volume of 183,766 shares, compared to its average volume of 279,770. The business's 50-day moving average price is $63.22 and its 200-day moving average price is $56.75. The firm has a market cap of $3.65 billion, a PE ratio of 21.32 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 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 quarterly 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 company had revenue of $188.94 million during the quarter, compared to analyst estimates of $186.35 million. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.82 EPS. Equities analysts forecast that Community Bank System, Inc. will post 3.38 earnings per share for the current year.

Community Bank System Announces Dividend

The business 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 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, December 13th. Community Bank System's payout ratio is presently 57.32%.

Insiders Place Their Bets

In other news, Director John F. Whipple sold 3,937 shares of the company'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 transaction of $287,794.70. Following the transaction, the director now directly owns 5,823 shares of the company's stock, valued at $425,661.30. This represents a 40.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.78% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CBU. Raymond James raised shares of Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 target price for the company in a research note on Monday, October 28th. Keefe, Bruyette & Woods lifted their price objective on shares of Community Bank System from $64.00 to $74.00 and gave the stock a "market perform" rating in a research report on Wednesday.

Community Bank System Profile

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.