Shares of Community Bank System Inc. (NYSE:CBU) reached a new 52-week high on Wednesday . The company traded as high as $46.19 and last traded at $46.14, with a volume of 16,927 shares trading hands. The stock had previously closed at $46.03.

CBU has been the topic of a number of analyst reports. Zacks Investment Research upgraded Community Bank System from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Monday, July 25th. Sandler O’Neill cut Community Bank System from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Hovde Group lifted their target price on Community Bank System from $38.00 to $43.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 26th. Finally, Royal Bank Of Canada lifted their target price on Community Bank System from $37.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 26th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Community Bank System currently has a consensus rating of “Hold” and a consensus target price of $41.50.

The company has a market cap of $2.04 billion and a PE ratio of 20.92. The stock’s 50-day moving average is $43.75 and its 200 day moving average is $40.22.

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 analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $107.10 million for the quarter, compared to analysts’ expectations of $106.66 million. During the same period last year, the company posted $0.58 earnings per share. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities analysts expect that Community Bank System Inc. will post $2.32 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Thursday, September 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This is an increase from Community Bank System’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 2.78%.

In related news, Director Nicholas A. Dicerbo sold 2,000 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $43.75, for a total transaction of $87,500.00. Following the completion of the sale, the director now directly owns 200,921 shares of the company’s stock, valued at approximately $8,790,293.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian R. Ace sold 3,817 shares of the company’s stock in a transaction 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 sale, the director now directly owns 50,275 shares of the company’s stock, valued at $2,181,935. The disclosure for this sale can be found here.

A number of hedge funds have made changes to their positions in CBU. Dimensional Fund Advisors LP boosted its stake in shares of Community Bank System by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,752,890 shares of the company’s stock worth $70,012,000 after buying an additional 80,788 shares during the period. Principal Financial Group Inc. boosted its position in Community Bank System by 9.8% in the fourth quarter. Principal Financial Group Inc. now owns 292,757 shares of the company’s stock worth $11,693,000 after buying an additional 26,112 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in Community Bank System by 2.7% in the fourth quarter. California Public Employees Retirement System now owns 64,520 shares of the company’s stock worth $2,577,000 after buying an additional 1,720 shares during the last quarter.

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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