Shelton Capital Management bought a new position in shares of Community Bank System, Inc. (NYSE:CBU) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 4,425 shares of the bank’s stock, valued at approximately $247,000.

Other large investors have also recently modified their holdings of the company. Crawford Investment Counsel Inc. purchased a new stake in shares of Community Bank System during the 2nd quarter worth about $1,342,000. Comerica Bank grew its holdings in shares of Community Bank System by 4.6% during the 2nd quarter. Comerica Bank now owns 51,559 shares of the bank’s stock worth $2,812,000 after purchasing an additional 2,254 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Community Bank System by 12.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 91,759 shares of the bank’s stock worth $5,117,000 after purchasing an additional 10,156 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Community Bank System by 15.0% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 40,059 shares of the bank’s stock worth $2,234,000 after purchasing an additional 5,226 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Community Bank System by 14.1% during the 2nd quarter. Principal Financial Group Inc. now owns 415,221 shares of the bank’s stock worth $23,157,000 after purchasing an additional 51,281 shares during the period. Institutional investors and hedge funds own 68.98% of the company’s stock.

In other news, Director Brian R. Ace sold 5,457 shares of the stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $53.35, for a total transaction of $291,130.95. Following the transaction, the director now owns 55,647 shares of the company’s stock, valued at approximately $2,968,767.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director R Kallet Michael sold 5,000 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $53.00, for a total value of $265,000.00. Following the transaction, the director now directly owns 11,603 shares in the company, valued at approximately $614,959. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,457 shares of company stock worth $1,085,081. 3.20% of the stock is currently owned by insiders.

COPYRIGHT VIOLATION WARNING: This news story was originally published by Daily Political and is owned by of Daily Political. If you are accessing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/10/18/shelton-capital-management-invests-247000-in-community-bank-system-inc-cbu.html.

Community Bank System, Inc. (CBU) opened at 54.78 on Wednesday. Community Bank System, Inc. has a 52-week low of $42.67 and a 52-week high of $63.04. The company’s 50-day moving average price is $53.19 and its 200 day moving average price is $54.50. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 26.20 and a beta of 1.10.

Community Bank System (NYSE:CBU) last issued its earnings results on Monday, July 31st. The bank reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.13. Community Bank System had a return on equity of 9.04% and a net margin of 20.63%. The company had revenue of $129.26 million for the quarter, compared to analyst estimates of $127.00 million. During the same period in the prior year, the firm posted $0.58 EPS. The business’s revenue was up 20.7% compared to the same quarter last year. Equities research analysts predict that Community Bank System, Inc. will post $2.57 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th were issued a dividend of $0.34 per share. This is a positive change from Community Bank System’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.48%. Community Bank System’s dividend payout ratio is currently 64.15%.

A number of analysts have recently issued reports on CBU shares. Piper Jaffray Companies reiterated a “hold” rating and set a $51.00 target price on shares of Community Bank System in a report on Thursday, August 3rd. BidaskClub cut Community Bank System from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Zacks Investment Research upgraded Community Bank System from a “hold” rating to a “strong-buy” rating and set a $58.00 target price for the company in a report on Tuesday, September 12th. Royal Bank Of Canada reiterated a “hold” rating on shares of Community Bank System in a report on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $54.00 target price on shares of Community Bank System in a report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $54.67.

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.

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).

Institutional Ownership by Quarter for Community Bank System (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.