Bank of New York Mellon Corp Buys 13,512 Shares of Community Bank System, Inc. (NYSE:CBU)

Bank of New York Mellon Corp lifted its stake in shares of Community Bank System, Inc. (NYSE:CBU – Get Rating) by 2.3% during the third quarter, Holdings Channel.com reports. The firm owned 594,581 shares of the bank’s stock after acquiring an additional 13,512 shares during the period. Bank of New York Mellon Corp’s holdings in Community Bank System were worth $35,722,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in Community Bank System in the third quarter worth approximately $26,000. Wipfli Financial Advisors LLC bought a new stake in shares of Community Bank System during the third quarter valued at approximately $29,000. Eagle Bay Advisors LLC acquired a new position in shares of Community Bank System during the second quarter worth approximately $32,000. Covestor Ltd lifted its holdings in shares of 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 purchasing an additional 265 shares in the last quarter. Finally, Cambridge Trust Co. acquired a new stake in Community Bank System in the 2nd quarter valued at $44,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Brian R. Ace sold 4,148 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $60.54, for a total transaction of $251,119.92. Following the completion of the sale, the director now directly owns 63,011 shares of the company’s stock, valued at $3,814,685.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.75% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Raymond James assumed coverage on shares of Community Bank System in a report on Tuesday, December 20th. They set a “market perform” rating on the stock. StockNews.com cut shares of Community Bank System from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th.

Community Bank System Trading Down 4.2 %

Shares of Community Bank System stock opened at $51.95 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $60.13 and a 200 day simple moving average of $62.00. Community Bank System, Inc. has a 12-month low of $48.99 and a 12-month high of $73.61. The company has a market capitalization of $2.79 billion, a P/E ratio of 15.01 and a beta of 0.63.

Community Bank System (NYSE:CBU – Get Rating) last posted its earnings results on Tuesday, January 24th. The bank reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $187.69 million during the quarter, compared to analyst estimates of $177.60 million. During the same quarter in the prior year, the business posted $0.81 EPS. On average, sell-side analysts anticipate that Community Bank System, Inc. will post 3.64 earnings per share for the current fiscal year.

Community Bank System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Shareholders of record on Wednesday, March 15th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $1.76 annualized dividend and a yield of 3.39%. Community Bank System’s dividend payout ratio (DPR) is 50.87%.

Community Bank System Profile

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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.