Dark Forest Capital Management LP acquired a new stake in Community Bank System, Inc. (NYSE:CBU – Free Report) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 1,639 shares of the bank’s stock, valued at approximately $86,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Community Bank System by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,235,307 shares of the bank’s stock worth $64,840,000 after acquiring an additional 32,218 shares during the period. ProShare Advisors LLC grew its position in shares of Community Bank System by 10.9% in the first quarter. ProShare Advisors LLC now owns 164,374 shares of the bank’s stock valued at $8,628,000 after purchasing an additional 16,148 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Community Bank System by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 518,110 shares of the bank’s stock worth $27,196,000 after buying an additional 9,197 shares in the last quarter. Profund Advisors LLC increased its position in Community Bank System by 27.1% during the 1st quarter. Profund Advisors LLC now owns 4,759 shares of the bank’s stock worth $250,000 after purchasing an additional 1,014 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Community Bank System by 14.4% during the first quarter. HighTower Advisors LLC now owns 22,729 shares of the bank’s stock worth $1,193,000 after buying an additional 2,856 shares in the last quarter. 75.39% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CBU has been the subject of several analyst reports. StockNews.com initiated coverage on Community Bank System in a research note on Thursday, August 17th. They issued a “sell” rating for the company. Raymond James raised their target price on shares of Community Bank System from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Finally, Hovde Group upgraded shares of Community Bank System from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Community Bank System currently has an average rating of “Hold” and a consensus price target of $59.83.
Community Bank System Trading Down 0.6 %
Shares of CBU stock opened at $44.63 on Friday. The stock has a fifty day moving average of $48.92 and a two-hundred day moving average of $50.51. The firm has a market capitalization of $2.39 billion, a PE ratio of 15.55 and a beta of 0.60. Community Bank System, Inc. has a 1 year low of $42.10 and a 1 year high of $66.32. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.71 and a current ratio of 0.71.
Community Bank System (NYSE:CBU – Get Free Report) last issued its quarterly earnings results on Monday, July 31st. The bank reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Community Bank System had a net margin of 22.00% and a return on equity of 12.59%. The company had revenue of $176.34 million during the quarter, compared to the consensus estimate of $180.63 million. As a group, research analysts expect that Community Bank System, Inc. will post 3.45 EPS for the current year.
Community Bank System Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Community Bank System’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a dividend yield of 4.03%. Community Bank System’s dividend payout ratio (DPR) is currently 61.32%.
Insider Activity at Community Bank System
In other news, COO Dimitar Karaivanov bought 1,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were bought at an average cost of $44.50 per share, with a total value of $44,500.00. Following the purchase, the chief operating officer now directly owns 15,265 shares in the company, valued at $679,292.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.89% of the stock is currently owned by corporate insiders.
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, 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.
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