Community Bank System Inc. (CBU) Stake Decreased by First Trust Advisors LP
First Trust Advisors LP reduced its position in Community Bank System Inc. (NYSE:CBU) by 80.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 15,406 shares of the company’s stock after selling 63,260 shares during the period. First Trust Advisors LP’s holdings in Community Bank System were worth $633,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in Community Bank System by 141.7% in the first quarter. BlackRock Inc. now owns 3,057 shares of the company’s stock worth $117,000 after buying an additional 1,792 shares in the last quarter. Bank of Montreal Can acquired a new position in Community Bank System during the second quarter worth about $178,000. C M Bidwell & Associates Ltd. boosted its position in Community Bank System by 1.0% in the first quarter. C M Bidwell & Associates Ltd. now owns 4,515 shares of the company’s stock worth $173,000 after buying an additional 45 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Community Bank System during the first quarter worth about $346,000. Finally, Capstone Asset Management Co. boosted its position in Community Bank System by 5.3% in the second quarter. Capstone Asset Management Co. now owns 13,310 shares of the company’s stock worth $547,000 after buying an additional 670 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.
Community Bank System Inc. (NYSE:CBU) traded up 1.65% during trading on Monday, hitting $48.70. The company had a trading volume of 57,130 shares. The company’s 50 day moving average price is $47.17 and its 200-day moving average price is $42.41. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 22.12 and a beta of 0.95. Community Bank System Inc. has a 1-year low of $34.27 and a 1-year high of $48.74.
Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.58 earnings per share (EPS) 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. Community Bank System had a return on equity of 8.64% and a net margin of 22.93%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 EPS. On average, analysts expect that Community Bank System Inc. will post $2.31 EPS for the current year.
The business 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 dividend of $0.32 per share. 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. This represents a $1.28 dividend on an annualized basis and a yield of 2.67%. Community Bank System’s dividend payout ratio is 58.18%.
A number of research analysts have issued reports on CBU shares. Zacks Investment Research upgraded Community Bank System from a “sell” rating to a “hold” rating in a research report on Monday, June 13th. Sandler O’Neill lowered Community Bank System from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Finally, Hovde Group lifted their price target on Community Bank System from $38.00 to $43.00 and gave the company a “market perform” rating in a research note on Tuesday, July 26th. Five analysts have rated the stock with a hold rating, Community Bank System presently has an average rating of “Hold” and an average target price of $41.50.
In other Community Bank System news, Director Nicholas A. Dicerbo sold 2,000 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was 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 in the company, valued at approximately $8,790,293.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian R. Ace sold 3,817 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $43.40, for a total value of $165,657.80. Following the completion of the transaction, the director now owns 50,275 shares in the company, valued at $2,181,935. The disclosure for this sale can be found here. Corporate insiders own 3.48% of the company’s stock.
About Community Bank System
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.
Want to see what other hedge funds are holding CBU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Community Bank System Inc. (NYSE:CBU).
Receive News & Ratings for Community Bank System Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Bank System Inc. and related companies with MarketBeat.com's FREE daily email newsletter.