Community Bank System, Inc. (NYSE:CBU) Director Sells $287,794.70 in Stock

Community Bank System, Inc. (NYSE:CBU) Director John F. Whipple sold 3,937 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $73.10, for a total transaction of $287,794.70. Following the completion of the transaction, the director now owns 5,823 shares of the company’s stock, valued at $425,661.30. This represents a 40.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Community Bank System Price Performance

Shares of NYSE:CBU traded down $1.16 during midday trading on Tuesday, reaching $70.29. 67,374 shares of the company’s stock traded hands, compared to its average volume of 281,565. Community Bank System, Inc. has a 1 year low of $41.50 and a 1 year high of $73.39. The company has a market cap of $3.69 billion, a P/E ratio of 22.27 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 0.76. The company has a fifty day simple moving average of $61.94 and a two-hundred day simple moving average of $55.84.

Community Bank System (NYSE:CBU) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.05). Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The business had revenue of $188.94 million for the quarter, compared to analysts’ expectations of $186.35 million. During the same quarter last year, the business earned $0.82 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts predict that Community Bank System, Inc. will post 3.38 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.62%. Community Bank System’s dividend payout ratio (DPR) is 57.32%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its stake in Community Bank System by 152.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank’s stock valued at $8,611,000 after purchasing an additional 110,288 shares during the last quarter. Boston Partners acquired a new stake in shares of Community Bank System in the 1st quarter worth $3,558,000. Tidal Investments LLC increased its stake in shares of Community Bank System by 239.1% in the 1st quarter. Tidal Investments LLC now owns 17,257 shares of the bank’s stock worth $829,000 after acquiring an additional 12,168 shares during the last quarter. Citizens & Northern Corp acquired a new stake in shares of Community Bank System in the 2nd quarter worth $398,000. Finally, Ausbil Investment Management Ltd increased its stake in shares of Community Bank System by 494.7% in the 3rd quarter. Ausbil Investment Management Ltd now owns 30,552 shares of the bank’s stock worth $1,774,000 after acquiring an additional 25,415 shares during the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CBU. Raymond James upgraded shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 target price for the company in a report on Monday, October 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $59.00 target price on shares of Community Bank System in a research report on Tuesday, September 10th.

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, 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.