Arizona State Retirement System Sells 335 Shares of Community Bank System, Inc. (NYSE:CBU)

Arizona State Retirement System lessened its position in shares of Community Bank System, Inc. (NYSE:CBU) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,963 shares of the bank’s stock after selling 335 shares during the period. Arizona State Retirement System’s holdings in Community Bank System were worth $780,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG increased its holdings in Community Bank System by 15.7% during the 3rd quarter. Deutsche Bank AG now owns 26,617 shares of the bank’s stock worth $1,124,000 after purchasing an additional 3,619 shares in the last quarter. Tudor Investment Corp Et Al increased its holdings in Community Bank System by 62.7% during the 3rd quarter. Tudor Investment Corp Et Al now owns 113,604 shares of the bank’s stock worth $4,795,000 after purchasing an additional 43,766 shares in the last quarter. Fulton Bank N.A. increased its holdings in Community Bank System by 11.6% during the 4th quarter. Fulton Bank N.A. now owns 5,859 shares of the bank’s stock worth $305,000 after purchasing an additional 607 shares in the last quarter. Aigen Investment Management LP bought a new position in Community Bank System during the 3rd quarter worth about $810,000. Finally, Graham Capital Management L.P. bought a new position in Community Bank System during the 3rd quarter worth about $1,123,000. Institutional investors own 73.79% of the company’s stock.

Community Bank System Trading Down 0.4 %

Community Bank System stock opened at $41.53 on Thursday. The firm has a 50-day moving average of $45.24 and a 200-day moving average of $45.81. Community Bank System, Inc. has a one year low of $35.38 and a one year high of $55.64. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 16.42 and a beta of 0.66.

Community Bank System (NYSE:CBU) last issued its earnings results on Tuesday, January 23rd. The bank reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.08). Community Bank System had a net margin of 13.78% and a return on equity of 9.15%. The firm had revenue of $177.00 million during the quarter, compared to analyst estimates of $175.25 million. During the same quarter last year, the business posted $0.96 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts expect that Community Bank System, Inc. will post 3.24 earnings per share for the current fiscal year.

Community Bank System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were paid a $0.45 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.80 annualized dividend and a yield of 4.33%. Community Bank System’s dividend payout ratio (DPR) is currently 71.15%.

Wall Street Analysts Forecast Growth

CBU has been the subject of a number of recent research reports. StockNews.com upgraded shares of Community Bank System to a “sell” rating in a research note on Friday, January 19th. DA Davidson restated a “neutral” rating and set a $50.00 price objective on shares of Community Bank System in a research note on Thursday, March 14th. Finally, Raymond James increased their price objective on shares of Community Bank System from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $47.67.

Insider Activity at Community Bank System

In related news, Director Sally A. Steele sold 3,501 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $48.76, for a total value of $170,708.76. Following the completion of the sale, the director now directly owns 33,634 shares in the company, valued at approximately $1,639,993.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Community Bank System news, Director Sally A. Steele sold 3,501 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $48.76, for a total transaction of $170,708.76. Following the completion of the sale, the director now directly owns 33,634 shares in the company, valued at $1,639,993.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dimitar Karaivanov acquired 1,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average price of $43.70 per share, with a total value of $43,700.00. Following the completion of the transaction, the chief executive officer now directly owns 16,265 shares of the company’s stock, valued at $710,780.50. The disclosure for this purchase can be found here. 1.78% of the stock is currently owned by company insiders.

Community Bank System Company Profile

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, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.