Amalgamated Bank Has $897,000 Position in Community Bank System, Inc. (NYSE:CBU)

Amalgamated Bank lessened its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,447 shares of the bank’s stock after selling 695 shares during the period. Amalgamated Bank’s holdings in Community Bank System were worth $897,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in Community Bank System by 77.3% during the first quarter. BNP Paribas Financial Markets now owns 29,113 shares of the bank’s stock worth $1,398,000 after acquiring an additional 12,692 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Community Bank System during the first quarter worth about $583,000. Russell Investments Group Ltd. increased its stake in shares of Community Bank System by 9.7% in the first quarter. Russell Investments Group Ltd. now owns 55,134 shares of the bank’s stock valued at $2,648,000 after buying an additional 4,879 shares during the period. ProShare Advisors LLC boosted its stake in shares of Community Bank System by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 10,744 shares of the bank’s stock valued at $516,000 after purchasing an additional 739 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in Community Bank System during the first quarter worth approximately $555,000. Institutional investors own 73.79% of the company’s stock.

Community Bank System Stock Up 0.1 %

CBU stock opened at $68.62 on Friday. Community Bank System, Inc. has a 1-year low of $41.50 and a 1-year high of $72.29. The stock has a market cap of $3.61 billion, a P/E ratio of 21.38 and a beta of 0.62. The stock’s fifty day simple moving average is $60.08 and its two-hundred day simple moving average is $54.45. The company has a current ratio of 0.75, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35.

Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.05). Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The company had revenue of $188.94 million during the quarter, compared to analysts’ expectations of $186.35 million. During the same period last year, the firm posted $0.82 earnings per share. Community Bank System’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts expect that Community Bank System, Inc. will post 3.37 EPS for the current year.

Community Bank System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, December 13th. This represents a $1.84 annualized dividend and a dividend yield of 2.68%. Community Bank System’s payout ratio is currently 57.32%.

Wall Street Analysts Forecast Growth

CBU has been the topic of several research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $59.00 price objective on shares of Community Bank System in a report on Tuesday, September 10th. Raymond James upgraded shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a report on Monday, October 28th.

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 other financial services to retail, commercial, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.