Community Bank System, Inc. (NYSE:CBU) Stock Holdings Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its position in Community Bank System, Inc. (NYSE:CBUGet Rating) by 8.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,779 shares of the bank’s stock after purchasing an additional 3,200 shares during the quarter. State of Alaska Department of Revenue’s holdings in Community Bank System were worth $2,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC grew its stake in Community Bank System by 683.9% in the first quarter. CWM LLC now owns 439 shares of the bank’s stock valued at $31,000 after purchasing an additional 383 shares in the last quarter. Covestor Ltd grew its stake in Community Bank System by 82.8% in the first quarter. Covestor Ltd now owns 585 shares of the bank’s stock valued at $41,000 after purchasing an additional 265 shares in the last quarter. Gemmer Asset Management LLC grew 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 valued at $42,000 after purchasing an additional 326 shares in the last quarter. US Asset Management LLC purchased a new position in Community Bank System in the first quarter valued at about $165,000. Finally, Qube Research & Technologies Ltd purchased a new position in Community Bank System in the first quarter valued at about $215,000. Hedge funds and other institutional investors own 70.13% of the company’s stock.

Community Bank System Price Performance

Shares of NYSE:CBU opened at $64.02 on Friday. Community Bank System, Inc. has a fifty-two week low of $60.94 and a fifty-two week high of $78.00. The business has a 50-day moving average of $66.69 and a two-hundred day moving average of $66.55. The stock has a market capitalization of $3.44 billion, a P/E ratio of 19.88 and a beta of 0.67. 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:CBUGet Rating) last posted its quarterly earnings data on Monday, July 25th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $162.37 million. On average, equities research analysts predict that Community Bank System, Inc. will post 3.56 EPS for the current fiscal year.

Community Bank System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Thursday, September 15th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, September 14th. This is a boost from Community Bank System’s previous quarterly dividend of $0.43. Community Bank System’s payout ratio is currently 54.66%.

Analysts Set New Price Targets

CBU has been the subject of a number of analyst reports. StockNews.com raised Community Bank System from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. DA Davidson reaffirmed a “neutral” rating on shares of Community Bank System in a research report on Thursday, July 28th.

Community Bank System Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Community Bank System (NYSE:CBU)

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