Community Bank System (NYSE:CBU) Hits New 12-Month High at $60.00

Community Bank System, Inc. (NYSE:CBU)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $60.00 and last traded at $60.00, with a volume of 312 shares. The stock had previously closed at $59.38.

Community Bank System Trading Up 0.6 %

The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.15 billion, a P/E ratio of 18.67 and a beta of 0.65. The company has a fifty day simple moving average of $47.37 and a two-hundred day simple moving average of $46.48.

Community Bank System (NYSE:CBU) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.03. Community Bank System had a return on equity of 8.93% and a net margin of 16.59%. The business had revenue of $178.29 million for the quarter, compared to analysts’ expectations of $178.97 million. On average, sell-side analysts expect that Community Bank System, Inc. will post 3.21 earnings per share for the current year.

Community Bank System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 13th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from Community Bank System’s previous quarterly dividend of $0.45. Community Bank System’s dividend payout ratio is 56.60%.

Insider Transactions at Community Bank System

In related news, CEO Dimitar Karaivanov bought 1,000 shares of Community Bank System stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $43.52 per share, with a total value of $43,520.00. Following the purchase, the chief executive officer now owns 19,653 shares in the company, valued at $855,298.56. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Community Bank System

Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in Community Bank System in the fourth quarter valued at $30,870,000. Hsbc Holdings PLC acquired a new stake in shares of Community Bank System in the fourth quarter valued at about $14,612,000. Public Employees Retirement Association of Colorado increased its position in shares of Community Bank System by 140.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 386,069 shares of the bank’s stock valued at $20,118,000 after acquiring an additional 225,685 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Community Bank System by 152.9% during the second quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank’s stock worth $8,611,000 after acquiring an additional 110,288 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Community Bank System by 15.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 814,362 shares of the bank’s stock valued at $42,436,000 after purchasing an additional 107,285 shares during the last quarter. 73.79% of the stock is owned by institutional investors.

About Community Bank System

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.