Jacobi Capital Management LLC held its position in shares of Community Bank System, Inc. (NYSE:CBU) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,833 shares of the bank’s stock at the end of the 2nd quarter. Community Bank System accounts for about 0.6% of Jacobi Capital Management LLC’s investment portfolio, making the stock its 29th biggest position. Jacobi Capital Management LLC owned approximately 0.06% of Community Bank System worth $1,605,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LS Investment Advisors LLC increased its holdings in Community Bank System by 8.2% in the 2nd quarter. LS Investment Advisors LLC now owns 1,814 shares of the bank’s stock worth $101,000 after acquiring an additional 137 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Community Bank System by 62.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,906 shares of the bank’s stock worth $105,000 after acquiring an additional 733 shares in the last quarter. Cutler Group LP increased its holdings in Community Bank System by 118.7% in the 2nd quarter. Cutler Group LP now owns 2,016 shares of the bank’s stock worth $112,000 after acquiring an additional 12,800 shares in the last quarter. Meadow Creek Investment Management LLC purchased a new stake in Community Bank System in the 1st quarter worth approximately $126,000. Finally, Pacad Investment Ltd. purchased a new stake in Community Bank System in the 2nd quarter worth approximately $139,000. 68.98% of the stock is owned by hedge funds and other institutional investors.
Community Bank System, Inc. (NYSE:CBU) opened at 53.09 on Friday. Community Bank System, Inc. has a 52-week low of $42.67 and a 52-week high of $63.04. The company has a market capitalization of $2.68 billion, a P/E ratio of 25.39 and a beta of 1.09. The stock’s 50 day moving average price is $52.40 and its 200-day moving average price is $54.63.
Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Monday, July 31st. The bank reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.13. Community Bank System had a return on equity of 9.04% and a net margin of 20.63%. The firm had revenue of $129.26 million during the quarter, compared to analysts’ expectations of $127.00 million. During the same period in the previous year, the business earned $0.58 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. Analysts predict that Community Bank System, Inc. will post $2.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.36 dividend on an annualized basis and a yield of 2.56%. This is a positive change from Community Bank System’s previous quarterly dividend of $0.32. Community Bank System’s payout ratio is 64.15%.
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In other Community Bank System news, Director Nicholas A. Dicerbo sold 3,000 shares of the business’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $56.03, for a total transaction of $168,090.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R Kallet Michael sold 5,000 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $52.55, for a total value of $262,750.00. Following the transaction, the director now directly owns 16,603 shares in the company, valued at approximately $872,487.65. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock worth $695,840 in the last three months. 3.20% of the stock is currently owned by corporate insiders.
Several research firms recently issued reports on CBU. Zacks Investment Research raised shares of Community Bank System from a “hold” rating to a “strong-buy” rating and set a $58.00 target price for the company in a report on Tuesday, September 12th. BidaskClub downgraded Community Bank System from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Piper Jaffray Companies restated a “hold” rating and issued a $51.00 price target on shares of Community Bank System in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Community Bank System in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $54.80.
Community Bank System Profile
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.
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