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Community Bank System, Inc. (NYSE:CBU) Shares Sold by Amalgamated Bank

Defense World ·  Sep 27, 2022 04:22

Amalgamated Bank lowered its stake in shares of Community Bank System, Inc. (NYSE:CBU – Get Rating) by 4.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,072 shares of the bank's stock after selling 1,153 shares during the quarter. Amalgamated Bank's holdings in Community Bank System were worth $1,689,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CBU. CWM LLC increased its holdings in shares of Community Bank System by 683.9% during the first quarter. CWM LLC now owns 439 shares of the bank's stock valued at $31,000 after acquiring an additional 383 shares in the last quarter. Covestor Ltd increased its holdings in Community Bank System by 82.8% in the 1st quarter. Covestor Ltd now owns 585 shares of the bank's stock worth $41,000 after buying an additional 265 shares during the period. Gemmer Asset Management LLC increased its holdings in Community Bank System by 115.2% in the 1st quarter. Gemmer Asset Management LLC now owns 609 shares of the bank's stock worth $42,000 after buying an additional 326 shares during the period. US Asset Management LLC acquired a new position in Community Bank System in the 1st quarter worth approximately $165,000. Finally, Qube Research & Technologies Ltd acquired a new position in Community Bank System in the 1st quarter worth approximately $215,000. Institutional investors and hedge funds own 70.13% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. DA Davidson reiterated a "neutral" rating on shares of Community Bank System in a report on Thursday, July 28th. StockNews.com upgraded shares of Community Bank System from a "sell" rating to a "hold" rating in a report on Thursday, August 11th.

Community Bank System Price Performance

Shares of NYSE CBU opened at $64.20 on Tuesday. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 19.94 and a beta of 0.67. Community Bank System, Inc. has a 12 month low of $60.94 and a 12 month high of $78.00. The firm's 50 day simple moving average is $66.72 and its 200-day simple moving average is $66.38. 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 (NYSE:CBU – Get Rating) last issued its quarterly earnings data on Monday, July 25th. The bank reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.04. The business had revenue of $167.24 million for 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%. Analysts expect that Community Bank System, Inc. will post 3.56 EPS for the current year.

Community Bank System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.44 per share. This is a boost from Community Bank System's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.74%. Community Bank System's dividend payout ratio (DPR) is presently 54.66%.

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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