Louisiana State Employees Retirement System increased its holdings in shares of Community Bank System, Inc. (NYSE:CBU – Free Report) by 12.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,200 shares of the bank’s stock after purchasing an additional 3,200 shares during the period. Louisiana State Employees Retirement System owned approximately 0.05% of Community Bank System worth $1,322,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CBU. Benjamin Edwards Inc. lifted its holdings in shares of Community Bank System by 159.2% during the 1st quarter. Benjamin Edwards Inc. now owns 547 shares of the bank’s stock valued at $29,000 after purchasing an additional 336 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Community Bank System by 80.4% in the 4th quarter. Quadrant Capital Group LLC now owns 487 shares of the bank’s stock valued at $31,000 after acquiring an additional 217 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Community Bank System in the 4th quarter valued at approximately $31,000. Eagle Bay Advisors LLC bought a new stake in Community Bank System in the 2nd quarter valued at approximately $32,000. Finally, Covestor Ltd lifted its stake in Community Bank System by 82.8% in the 1st quarter. Covestor Ltd now owns 585 shares of the bank’s stock valued at $41,000 after acquiring an additional 265 shares in the last quarter. Institutional investors own 75.39% of the company’s stock.
Insider Transactions at Community Bank System
In other Community Bank System news, Director Brian R. Ace acquired 2,410 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The stock was acquired at an average cost of $41.37 per share, for a total transaction of $99,701.70. Following the transaction, the director now directly owns 65,421 shares in the company, valued at $2,706,466.77. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Dimitar Karaivanov bought 1,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was purchased at an average cost of $44.50 per share, for a total transaction of $44,500.00. Following the completion of the transaction, the chief operating officer now owns 15,265 shares of the company’s stock, valued at $679,292.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brian R. Ace bought 2,410 shares of the company’s stock in a transaction on Friday, September 22nd. The stock was purchased at an average price of $41.37 per share, with a total value of $99,701.70. Following the completion of the transaction, the director now directly owns 65,421 shares of the company’s stock, valued at approximately $2,706,466.77. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 4,410 shares of company stock valued at $192,702. 1.75% of the stock is owned by corporate insiders.
Community Bank System Stock Up 0.4 %
Community Bank System (NYSE:CBU – Get Free Report) last issued its quarterly earnings data on Monday, July 31st. The bank reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Community Bank System had a return on equity of 12.59% and a net margin of 22.00%. The firm had revenue of $176.34 million for the quarter, compared to analyst estimates of $180.63 million. As a group, research analysts anticipate that Community Bank System, Inc. will post 3.48 EPS for the current year.
Community Bank System Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.45 per share. 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 4.28%. The ex-dividend date is Thursday, September 14th. Community Bank System’s dividend payout ratio is 62.72%.
Analyst Ratings Changes
Several research firms have commented on CBU. Hovde Group upgraded Community Bank System from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 28th. Raymond James upped their price objective on Community Bank System from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Finally, StockNews.com initiated coverage on Community Bank System in a research note on Thursday, August 17th. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $59.83.
Get Our Latest Stock Report on CBU
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 interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.
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