Neuberger Berman Group LLC trimmed its position in shares of Community Bank System, Inc. (NYSE:CBU – Get Rating) by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,620,434 shares of the bank's stock after selling 108,883 shares during the quarter. Neuberger Berman Group LLC owned 4.86% of Community Bank System worth $183,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Walleye Capital LLC bought a new position in shares of Community Bank System during the 1st quarter valued at $238,000. Mirabella Financial Services LLP bought a new position in shares of Community Bank System during the 1st quarter valued at $302,000. Jane Street Group LLC bought a new position in shares of Community Bank System during the 1st quarter valued at $536,000. Guggenheim Capital LLC lifted its holdings in shares of Community Bank System by 15.5% during the 1st quarter. Guggenheim Capital LLC now owns 3,145 shares of the bank's stock valued at $221,000 after buying an additional 421 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in shares of Community Bank System by 43.6% during the 1st quarter. Captrust Financial Advisors now owns 3,093 shares of the bank's stock valued at $218,000 after buying an additional 939 shares during the period. 70.13% of the stock is owned by institutional investors.
Get Community Bank System alerts:Community Bank System Price Performance
Shares of Community Bank System stock opened at $63.37 on Friday. Community Bank System, Inc. has a one year low of $60.94 and a one year high of $78.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a market cap of $3.40 billion, a P/E ratio of 19.68 and a beta of 0.67. The stock's fifty day moving average is $66.53 and its 200 day moving average is $66.81.
Community Bank System (NYSE:CBU – Get Rating) last issued its quarterly earnings results on Monday, July 25th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.04. Community Bank System had a return on equity of 9.53% and a net margin of 26.78%. The business had revenue of $167.24 million during the quarter, compared to analyst estimates of $162.37 million. Sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 15th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, September 14th. This is a positive change from Community Bank System's previous quarterly dividend of $0.43. Community Bank System's dividend payout ratio is presently 53.42%.
Analysts Set New Price Targets
CBU has been the topic of a number of recent research reports. DA Davidson reaffirmed a "neutral" rating on shares of Community Bank System in a report on Thursday, July 28th. StockNews.com raised Community Bank System from a "sell" rating to a "hold" rating in a report on Thursday, August 11th.
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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