Segall Bryant & Hamill LLC lessened its holdings in Community Bank System, Inc. (NYSE:CBU - Free Report) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 479,845 shares of the bank's stock after selling 18,267 shares during the period. Segall Bryant & Hamill LLC owned 0.91% of Community Bank System worth $27,865,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the business. Point72 DIFC Ltd purchased a new stake in Community Bank System in the 2nd quarter valued at approximately $76,000. KBC Group NV lifted its position in shares of Community Bank System by 23.6% in the third quarter. KBC Group NV now owns 1,816 shares of the bank's stock valued at $105,000 after acquiring an additional 347 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Community Bank System by 27.5% during the second quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank's stock valued at $162,000 after acquiring an additional 741 shares during the last quarter. IFG Advisory LLC purchased a new stake in Community Bank System during the 2nd quarter worth about $212,000. Finally, Dark Forest Capital Management LP acquired a new position in Community Bank System in the 2nd quarter valued at about $231,000. 73.79% of the stock is currently owned by institutional investors and hedge funds.
Community Bank System Stock Down 1.4 %
NYSE CBU traded down $0.95 during trading hours on Wednesday, hitting $67.26. The company had a trading volume of 37,666 shares, compared to its average volume of 282,939. The firm's 50 day moving average is $60.93 and its 200 day moving average is $55.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.76 and a quick ratio of 0.76. Community Bank System, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $72.29. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 21.26 and a beta of 0.62.
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 (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.05). The firm 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 was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $0.82 EPS. Sell-side analysts anticipate that Community Bank System, Inc. will post 3.38 earnings per share for the current fiscal year.
Community Bank System Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.84 annualized dividend and a yield of 2.74%. Community Bank System's dividend payout ratio is presently 57.32%.
Analysts Set New Price Targets
A number of research firms have 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 price objective for the company in a research report on Monday, October 28th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $59.00 price target on shares of Community Bank System in a research note on Tuesday, September 10th.
Read Our Latest Analysis on Community Bank System
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.
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