Metropolitan Life Insurance Co NY trimmed its position in shares of Community Bank System, Inc. (NYSE:CBU – Get Rating) by 74.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,369 shares of the bank's stock after selling 9,987 shares during the period. Metropolitan Life Insurance Co NY's holdings in Community Bank System were worth $236,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of Community Bank System in the 4th quarter worth approximately $29,000. CWM LLC raised its position in Community Bank System by 683.9% in the 1st quarter. CWM LLC now owns 439 shares of the bank's stock worth $31,000 after purchasing an additional 383 shares during the period. Gemmer Asset Management LLC lifted its stake in Community Bank System by 115.2% in the first quarter. Gemmer Asset Management LLC now owns 609 shares of the bank's stock worth $42,000 after purchasing an additional 326 shares during the last quarter. US Asset Management LLC purchased a new stake in Community Bank System during the first quarter valued at about $165,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Community Bank System during the first quarter valued at about $215,000. Hedge funds and other institutional investors own 70.13% of the company's stock.
Get Community Bank System alerts:Community Bank System Price Performance
Shares of Community Bank System stock opened at $64.11 on Thursday. The business has a 50 day moving average of $66.53 and a 200 day moving average of $67.16. Community Bank System, Inc. has a 52 week low of $60.94 and a 52 week high of $78.00. The company has a market cap of $3.44 billion, a PE ratio of 19.91 and a beta of 0.67. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.05.
Community Bank System (NYSE:CBU – Get Rating) last posted its earnings results on Monday, July 25th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.81 by $0.04. The firm had revenue of $167.24 million during the quarter, compared to analysts' expectations of $162.37 million. Community Bank System had a net margin of 26.78% and a return on equity of 9.53%. As a group, equities research analysts forecast that Community Bank System, Inc. will post 3.56 earnings per share for the current year.Community Bank System Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 15th will be given a $0.44 dividend. The ex-dividend date is Wednesday, September 14th. This is an increase from Community Bank System's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.75%. Community Bank System's dividend payout ratio is currently 53.42%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. StockNews.com upgraded Community Bank System from a "sell" rating to a "hold" rating in a report on Thursday, August 11th. DA Davidson reiterated a "neutral" rating on shares of Community Bank System in a report on Thursday, July 28th.
Community Bank System Profile
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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 checking, savings, and money market deposit accounts, as well as time deposits.
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