Dynamic Technology Lab Private Ltd Has $514,000 Position in Community Bank System, Inc. (CBU)
Dynamic Technology Lab Private Ltd boosted its position in shares of Community Bank System, Inc. (NYSE:CBU) by 64.3% in the third quarter, HoldingsChannel.com reports. The firm owned 8,416 shares of the bank’s stock after purchasing an additional 3,293 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Community Bank System were worth $514,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CBU. Destination Wealth Management acquired a new position in Community Bank System during the third quarter valued at approximately $122,000. US Bancorp DE grew its holdings in Community Bank System by 67.5% during the third quarter. US Bancorp DE now owns 3,225 shares of the bank’s stock valued at $197,000 after purchasing an additional 1,300 shares during the period. Alpha Omega Wealth Management LLC bought a new position in Community Bank System in the third quarter valued at approximately $212,000. Strs Ohio lifted its stake in Community Bank System by 29.0% in the second quarter. Strs Ohio now owns 4,000 shares of the bank’s stock valued at $236,000 after buying an additional 900 shares in the last quarter. Finally, Stevens Capital Management LP bought a new position in Community Bank System in the second quarter valued at approximately $258,000. Hedge funds and other institutional investors own 70.61% of the company’s stock.
Shares of CBU opened at $59.62 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.74. Community Bank System, Inc. has a twelve month low of $50.72 and a twelve month high of $67.07. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 2.23 and a beta of 0.98.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Friday, December 14th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, December 13th. Community Bank System’s payout ratio is currently 54.48%.
A number of brokerages have weighed in on CBU. Zacks Investment Research lowered shares of Community Bank System from a “buy” rating to a “hold” rating in a research note on Monday, November 19th. ValuEngine lowered shares of Community Bank System from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Community Bank System in a research note on Monday, October 22nd. Seven 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 price target of $60.00.
In other news, Director R Kallet Michael sold 1,700 shares of the business’s stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $60.80, for a total value of $103,360.00. Following the sale, the director now owns 1,300 shares of the company’s stock, valued at $79,040. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.34% of the company’s stock.
Community Bank System Company Profile
Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and financial services to retail, commercial, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.
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