Hsbc Holdings PLC Takes $622,000 Position in Community Bank System, Inc. (NYSE:CBU)

Hsbc Holdings PLC purchased a new stake in Community Bank System, Inc. (NYSE:CBU – Get Rating) during the 3rd quarter, HoldingsChannel reports. The fund purchased 10,218 shares of the bank’s stock, valued at approximately $622,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CBU. Prudential PLC bought a new stake in Community Bank System during the 3rd quarter worth approximately $430,000. Envestnet Asset Management Inc. increased its holdings in Community Bank System by 2.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 17,434 shares of the bank’s stock worth $1,047,000 after acquiring an additional 419 shares during the period. ExodusPoint Capital Management LP increased its holdings in Community Bank System by 146.9% during the 3rd quarter. ExodusPoint Capital Management LP now owns 31,932 shares of the bank’s stock worth $1,918,000 after acquiring an additional 18,999 shares during the period. Tower Research Capital LLC TRC increased its holdings in Community Bank System by 129.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,711 shares of the bank’s stock worth $524,000 after acquiring an additional 4,921 shares during the period. Finally, UBS Group AG increased its holdings in Community Bank System by 458.2% during the 3rd quarter. UBS Group AG now owns 18,024 shares of the bank’s stock worth $1,083,000 after acquiring an additional 14,795 shares during the period. Institutional investors own 71.78% of the company’s stock.

Insider Activity

In other news, Director Brian R. Ace sold 4,148 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $60.54, for a total value of $251,119.92. Following the completion of the sale, the director now owns 63,011 shares of the company’s stock, valued at approximately $3,814,685.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.63% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Community Bank System from a “hold” rating to a “sell” rating in a report on Tuesday, January 10th. Raymond James initiated coverage on shares of Community Bank System in a research note on Tuesday, December 20th. They issued a “market perform” rating for the company.

Community Bank System Price Performance

CBU stock opened at $59.66 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.67 and a quick ratio of 0.63. Community Bank System, Inc. has a one year low of $54.63 and a one year high of $73.61. The stock has a market cap of $3.21 billion, a PE ratio of 17.24 and a beta of 0.63. The firm has a 50 day simple moving average of $61.00 and a two-hundred day simple moving average of $62.71.

Community Bank System (NYSE:CBU – Get Rating) last released its quarterly earnings results on Tuesday, January 24th. The bank reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Community Bank System had a net margin of 26.77% and a return on equity of 11.94%. The business had revenue of $187.69 million during the quarter, compared to analysts’ expectations of $177.60 million. During the same quarter in the previous year, the company earned $0.81 EPS. On average, analysts predict that Community Bank System, Inc. will post 3.64 EPS for the current fiscal year.

Community Bank System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Stockholders of record on Wednesday, March 15th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.95%. Community Bank System’s dividend payout ratio (DPR) is 50.87%.

About Community Bank System

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Community Bank System, Inc is a holding company, which engages in the provision of retail, business, and municipal banking services. It operates through the following segments: Banking, Employee Benefit Services, and All Other. The Banking segment offers an array of lending and depository-related products and services to individuals, businesses, and municipal enterprises.