Brookstone Capital Management reduced its holdings in Community Bank System, Inc. (NYSE:CBU – Get Rating) by 3.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,972 shares of the bank's stock after selling 320 shares during the period. Brookstone Capital Management's holdings in Community Bank System were worth $574,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in CBU. BlackRock Inc. boosted its position in Community Bank System by 0.6% in the 1st quarter. BlackRock Inc. now owns 7,943,008 shares of the bank's stock valued at $557,203,000 after buying an additional 50,524 shares during the period. Vanguard Group Inc. raised its stake in shares of Community Bank System by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,382,421 shares of the bank's stock worth $447,727,000 after acquiring an additional 51,693 shares in the last quarter. State Street Corp raised its stake in shares of Community Bank System by 14.8% during the 1st quarter. State Street Corp now owns 5,037,367 shares of the bank's stock worth $355,486,000 after acquiring an additional 647,871 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Community Bank System by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,173,356 shares of the bank's stock worth $82,312,000 after purchasing an additional 42,368 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Community Bank System by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 924,346 shares of the bank's stock worth $68,845,000 after purchasing an additional 56,203 shares during the last quarter. 70.13% of the stock is owned by hedge funds and other institutional investors.
Get Community Bank System alerts:Community Bank System Trading Down 0.2 %
Shares of NYSE:CBU opened at $63.92 on Friday. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 19.85 and a beta of 0.67. The business's 50 day moving average price is $66.70 and its 200-day moving average price is $66.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.61 and a quick ratio of 0.61. Community Bank System, Inc. has a 1 year low of $60.94 and a 1 year high of $78.00.
Community Bank System (NYSE:CBU – Get Rating) last posted its quarterly earnings data on Monday, July 25th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.04. The business had revenue of $167.24 million for the quarter, compared to the consensus estimate of $162.37 million. Community Bank System had a net margin of 26.78% and a return on equity of 9.53%. On average, equities research analysts forecast that Community Bank System, Inc. will post 3.56 earnings per share for the current fiscal year.Community Bank System Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.44 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.75%. This is a boost from Community Bank System's previous quarterly dividend of $0.43. Community Bank System's dividend payout ratio is presently 54.66%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. DA Davidson reissued 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 Company 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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