Champlain Investment Partners LLC raised its position in Community Bank System, Inc. (NYSE:CBU) by 3.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 785,200 shares of the bank’s stock after purchasing an additional 25,095 shares during the period. Champlain Investment Partners LLC’s holdings in Community Bank System were worth $42,205,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in shares of Community Bank System during the third quarter worth approximately $151,000. CIBC Asset Management Inc purchased a new stake in shares of Community Bank System during the third quarter worth approximately $204,000. Empire Life Investments Inc. raised its stake in shares of Community Bank System by 17.9% during the third quarter. Empire Life Investments Inc. now owns 7,541 shares of the bank’s stock worth $417,000 after purchasing an additional 1,143 shares during the last quarter. Centiva Capital LP purchased a new stake in shares of Community Bank System during the fourth quarter worth approximately $432,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Community Bank System during the third quarter worth approximately $536,000. Institutional investors own 68.93% of the company’s stock.
Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $58.00 price target on shares of Community Bank System in a research note on Wednesday, January 24th. Zacks Investment Research cut Community Bank System from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Boenning Scattergood restated a “hold” rating on shares of Community Bank System in a research note on Monday, January 22nd. Finally, Sandler O’Neill upgraded Community Bank System from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $56.60.
Community Bank System (NYSE:CBU) last released its quarterly earnings data on Monday, January 22nd. The bank reported $0.71 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.71. The firm had revenue of $139.90 million during the quarter, compared to analysts’ expectations of $138.09 million. Community Bank System had a return on equity of 9.18% and a net margin of 28.34%. Community Bank System’s revenue was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. equities analysts expect that Community Bank System, Inc. will post 3 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Wednesday, March 14th. Community Bank System’s payout ratio is 45.33%.
In other Community Bank System news, Director Nicholas A. Dicerbo sold 2,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $56.00, for a total value of $112,000.00. Following the completion of the transaction, the director now owns 184,622 shares in the company, valued at $10,338,832. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian D. Donahue sold 5,535 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $55.19, for a total value of $305,476.65. Following the completion of the transaction, the executive vice president now owns 43,844 shares of the company’s stock, valued at approximately $2,419,750.36. The disclosure for this sale can be found here. Insiders sold 7,940 shares of company stock valued at $439,638 in the last quarter. 3.20% of the stock is currently owned by company insiders.
Community Bank System 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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