Quantedge Capital Pte Ltd Invests $1.73 Million in Community Bank System, Inc. (NYSE:CBU)

Quantedge Capital Pte Ltd acquired a new position in shares of Community Bank System, Inc. (NYSE:CBU) during the 4th quarter, Holdings Channel.com reports. The fund acquired 28,100 shares of the bank’s stock, valued at approximately $1,733,000.

Several other institutional investors also recently modified their holdings of CBU. US Bancorp DE grew its holdings in shares of Community Bank System by 17.1% during the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank’s stock worth $67,000 after purchasing an additional 158 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Community Bank System by 140.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank’s stock valued at $74,000 after buying an additional 702 shares in the last quarter. Principal Securities Inc. boosted its stake in Community Bank System by 13.7% in the 4th quarter. Principal Securities Inc. now owns 1,774 shares of the bank’s stock valued at $109,000 after buying an additional 214 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in Community Bank System in the 4th quarter valued at $125,000. Finally, Assetmark Inc. acquired a new stake in Community Bank System in the 4th quarter valued at $127,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Bank System Trading Down 0.1%

Shares of CBU opened at $57.75 on Thursday. The stock has a fifty day moving average price of $55.42 and a two-hundred day moving average price of $61.62. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. Community Bank System, Inc. has a 52-week low of $42.16 and a 52-week high of $73.39. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 16.79 and a beta of 0.77.

Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, April 29th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The firm had revenue of $196.20 million during the quarter, compared to the consensus estimate of $197.13 million. During the same quarter in the previous year, the company posted $1.18 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts predict that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, June 13th will be given a $0.46 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.84 annualized dividend and a yield of 3.19%. Community Bank System’s payout ratio is 50.97%.

Analysts Set New Price Targets

Several analysts recently commented on CBU shares. StockNews.com lowered Community Bank System from a “hold” rating to a “sell” rating in a research note on Thursday, May 8th. Keefe, Bruyette & Woods boosted their price target on Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a research note on Wednesday, January 22nd.

Community Bank System 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.