Insider Selling: Community Bank System, Inc. (CBU) Director Sells 405 Shares of Stock
Community Bank System, Inc. (NYSE:CBU) Director Jeffrey L. Davis sold 405 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $54.72, for a total value of $22,161.60. Following the completion of the transaction, the director now owns 52,939 shares of the company’s stock, valued at approximately $2,896,822.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Community Bank System, Inc. (NYSE:CBU) traded down $0.21 during trading hours on Thursday, reaching $54.26. The company’s stock had a trading volume of 147,600 shares, compared to its average volume of 261,831. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.08. Community Bank System, Inc. has a 12-month low of $48.89 and a 12-month high of $63.04. The firm has a market cap of $2,760.00, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07.
Community Bank System (NYSE:CBU) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06. The business had revenue of $137.30 million for the quarter, compared to analyst estimates of $138.74 million. Community Bank System had a return on equity of 9.22% and a net margin of 21.00%. The company’s revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. equities analysts predict that Community Bank System, Inc. will post 2.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Thursday, December 14th. Community Bank System’s dividend payout ratio is currently 63.85%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Community Bank System by 69.6% during the 2nd quarter. State Street Corp now owns 5,020,816 shares of the bank’s stock worth $280,008,000 after purchasing an additional 2,059,920 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Community Bank System by 11.2% in the 2nd quarter. BlackRock Inc. now owns 6,034,186 shares of the bank’s stock valued at $336,527,000 after acquiring an additional 609,319 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Community Bank System by 7.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,808,411 shares of the bank’s stock valued at $268,165,000 after acquiring an additional 353,538 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Community Bank System by 175.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 153,449 shares of the bank’s stock valued at $8,558,000 after acquiring an additional 97,732 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Community Bank System by 6.8% in the 2nd quarter. Northern Trust Corp now owns 1,459,745 shares of the bank’s stock valued at $81,410,000 after acquiring an additional 92,700 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.
CBU has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Community Bank System from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Wednesday, October 25th. DA Davidson set a $55.00 price target on Community Bank System and gave the company a “hold” rating in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $54.00 price objective on shares of Community Bank System in a research report on Friday, October 13th. Finally, Sandler O’Neill upgraded Community Bank System from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $55.80.
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Community Bank System Company 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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