Quest Partners LLC Invests $1.55 Million in Community Bank System, Inc. (NYSE:CBU)

Quest Partners LLC acquired a new stake in Community Bank System, Inc. (NYSE:CBU - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,712 shares of the bank's stock, valued at approximately $1,551,000. Quest Partners LLC owned about 0.05% of Community Bank System as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its position in Community Bank System by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the bank's stock worth $1,256,000 after buying an additional 200 shares during the period. QRG Capital Management Inc. raised its position in Community Bank System by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank's stock valued at $231,000 after buying an additional 212 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Community Bank System by 1.8% in the second quarter. Arizona State Retirement System now owns 14,930 shares of the bank's stock worth $705,000 after purchasing an additional 258 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Community Bank System by 6.2% during the 2nd quarter. CIBC Asset Management Inc now owns 5,235 shares of the bank's stock valued at $247,000 after buying an additional 307 shares during the last quarter. Finally, KBC Group NV grew its position in Community Bank System by 23.6% during the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank's stock valued at $105,000 after purchasing an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 73.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $59.00 target price on shares of Community Bank System in a research report on Tuesday, September 10th. 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.

Community Bank System Stock Performance

CBU stock traded down $0.36 on Wednesday, hitting $67.85. The company had a trading volume of 103,393 shares, compared to its average volume of 283,250. The stock's 50-day simple moving average is $60.93 and its 200 day simple moving average is $55.20. Community Bank System, Inc. has a 12-month low of $41.50 and a 12-month high of $72.29. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 21.26 and a beta of 0.62.

Community Bank System (NYSE:CBU - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.05). The company had revenue of $188.94 million for 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%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $0.82 EPS. As a group, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, December 13th. Community Bank System's dividend payout ratio (DPR) 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.