Mason Street Advisors LLC purchased a new stake in Community Bank System Inc. (NYSE:CBU) during the second quarter, Holdings Channel reports. The fund purchased 8,624 shares of the company’s stock, valued at approximately $354,000.
Several other hedge funds and other institutional investors have also bought and sold shares of CBU. BNP Paribas Arbitrage SA raised its stake in shares of Community Bank System by 110.5% in the second quarter. BNP Paribas Arbitrage SA now owns 13,802 shares of the company’s stock valued at $567,000 after buying an additional 7,245 shares during the last quarter. Royal Bank of Canada raised its stake in Community Bank System by 4.1% in the first quarter. Royal Bank of Canada now owns 437,772 shares of the company’s stock valued at $16,728,000 after buying an additional 17,134 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Community Bank System during the first quarter valued at about $346,000. UBS Group AG raised its stake in Community Bank System by 25.0% in the first quarter. UBS Group AG now owns 21,366 shares of the company’s stock valued at $816,000 after buying an additional 4,272 shares in the last quarter. Finally, Huntington Asset Advisors Inc. bought a new stake in Community Bank System during the first quarter valued at about $810,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.
Shares of Community Bank System Inc. (NYSE:CBU) opened at 48.14 on Friday. Community Bank System Inc. has a 52-week low of $34.27 and a 52-week high of $48.38. The stock has a market capitalization of $2.13 billion, a P/E ratio of 21.86 and a beta of 0.95. The company has a 50 day moving average price of $47.10 and a 200-day moving average price of $42.34.
Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. The company had revenue of $107.10 million for the quarter, compared to the consensus estimate of $106.66 million. Community Bank System had a return on equity of 8.64% and a net margin of 22.93%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the firm earned $0.58 EPS. On average, analysts predict that Community Bank System Inc. will post $2.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Thursday, September 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.66%. This is a boost from Community Bank System’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, September 13th. Community Bank System’s payout ratio is presently 58.18%.
Several research firms have issued reports on CBU. Zacks Investment Research raised Community Bank System from a “sell” rating to a “hold” rating in a report on Monday, June 27th. Sandler O’Neill downgraded Community Bank System from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, Hovde Group boosted their price objective on Community Bank System from $38.00 to $43.00 and gave the company a “market perform” rating in a research report on Tuesday, July 26th. Five equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $41.50.
In other Community Bank System news, Director Nicholas A. Dicerbo sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $43.75, for a total value of $87,500.00. Following the transaction, the director now directly owns 200,921 shares of the company’s stock, valued at approximately $8,790,293.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian R. Ace sold 3,817 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $43.40, for a total transaction of $165,657.80. Following the completion of the transaction, the director now directly owns 50,275 shares in the company, valued at $2,181,935. The disclosure for this sale can be found here. 3.48% of the stock is owned by corporate insiders.
Community Bank System Company Profile
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.
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