State of Alaska Department of Revenue lifted its position in Community Bank System, Inc. (NYSE:CBU) by 126.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,789 shares of the bank’s stock after buying an additional 22,247 shares during the period. State of Alaska Department of Revenue owned about 0.08% of Community Bank System worth $2,454,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in Community Bank System during the 2nd quarter worth about $59,000. Chicago Equity Partners LLC bought a new position in Community Bank System during the 2nd quarter worth about $3,656,000. Crossmark Global Holdings Inc. increased its holdings in Community Bank System by 4.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,307 shares of the bank’s stock worth $481,000 after purchasing an additional 322 shares in the last quarter. BlackRock Inc. increased its holdings in Community Bank System by 1.1% during the 2nd quarter. BlackRock Inc. now owns 7,622,990 shares of the bank’s stock worth $501,897,000 after purchasing an additional 81,588 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in Community Bank System during the 2nd quarter worth about $1,540,000. Institutional investors and hedge funds own 71.32% of the company’s stock.
Shares of Community Bank System stock traded up $0.35 during trading hours on Wednesday, reaching $60.44. 10,890 shares of the company’s stock were exchanged, compared to its average volume of 193,777. The company has a 50 day moving average of $61.97 and a two-hundred day moving average of $63.24. Community Bank System, Inc. has a fifty-two week low of $54.46 and a fifty-two week high of $67.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. The stock has a market cap of $3.16 billion, a P/E ratio of 17.93 and a beta of 1.01.
Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.80 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.80. Community Bank System had a net margin of 28.64% and a return on equity of 10.10%. The company had revenue of $149.00 million during the quarter, compared to the consensus estimate of $144.08 million. During the same period in the prior year, the business posted $0.86 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts expect that Community Bank System, Inc. will post 3.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.71%. This is an increase from Community Bank System’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, September 13th. Community Bank System’s dividend payout ratio is currently 48.66%.
A number of equities analysts have issued reports on CBU shares. Zacks Investment Research cut Community Bank System from a “hold” rating to a “sell” rating in a report on Monday. ValuEngine cut Community Bank System from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.
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, 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.
Featured Article: LIBOR
Receive News & Ratings for Community Bank System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Bank System and related companies with MarketBeat.com's FREE daily email newsletter.