Vanguard Group Inc. increased its holdings in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,434,483 shares of the bank's stock after purchasing an additional 15,282 shares during the quarter. Vanguard Group Inc. owned 12.24% of Community Bank System worth $396,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the business. US Bancorp DE raised its position in Community Bank System by 17.1% in the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank's stock worth $67,000 after buying an additional 158 shares during the last quarter. Principal Securities Inc. raised its holdings in shares of Community Bank System by 13.7% during the fourth quarter. Principal Securities Inc. now owns 1,774 shares of the bank's stock valued at $109,000 after purchasing an additional 214 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Community Bank System by 99.2% during the fourth quarter. Versant Capital Management Inc now owns 478 shares of the bank's stock valued at $29,000 after purchasing an additional 238 shares during the last quarter. Corient Private Wealth LLC lifted its position in Community Bank System by 4.0% during the fourth quarter. Corient Private Wealth LLC now owns 8,526 shares of the bank's stock valued at $526,000 after purchasing an additional 327 shares during the period. Finally, Invesco LLC boosted its holdings in Community Bank System by 7.0% in the fourth quarter. Invesco LLC now owns 6,763 shares of the bank's stock worth $417,000 after purchasing an additional 442 shares during the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.
Community Bank System Stock Performance
Shares of CBU traded down $0.40 on Monday, reaching $51.16. The company's stock had a trading volume of 372,549 shares, compared to its average volume of 259,170. The stock's 50 day simple moving average is $61.04 and its two-hundred day simple moving average is $62.49. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $2.70 billion, a P/E ratio of 14.87 and a beta of 0.74. Community Bank System, Inc. has a 12-month low of $41.50 and a 12-month high of $73.39.
Community Bank System (NYSE:CBU - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. The business had revenue of $196.30 million for the quarter, compared to analysts' expectations of $190.95 million. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The company's revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 EPS. Research analysts forecast that Community Bank System, Inc. will post 4.18 earnings per share for the current fiscal year.
Community Bank System Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.60%. The ex-dividend date is Friday, March 14th. Community Bank System's dividend payout ratio is presently 53.49%.
Insiders Place Their Bets
In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of Community Bank System stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $65.98, for a total transaction of $74,953.28. Following the transaction, the senior vice president now owns 6,539 shares of the company's stock, valued at $431,443.22. The trade was a 14.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.89% of the company's stock.
Analysts Set New Price Targets
Separately, Keefe, Bruyette & Woods boosted their target price on shares of Community Bank System from $74.00 to $76.00 and gave the company a "market perform" rating in a research note on Wednesday, January 22nd.
Check Out Our Latest Report on CBU
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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