Bank of New York Mellon Corp boosted its position in shares of Community Bank System, Inc. (NYSE:CBU) by 6.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 731,326 shares of the bank’s stock after purchasing an additional 41,608 shares during the quarter. Bank of New York Mellon Corp owned about 1.44% of Community Bank System worth $39,308,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Community Bank System during the 3rd quarter valued at about $151,000. CIBC Asset Management Inc purchased a new stake in Community Bank System during the 3rd quarter valued at about $204,000. Empire Life Investments Inc. grew its position in Community Bank System by 17.9% during the 3rd quarter. Empire Life Investments Inc. now owns 7,541 shares of the bank’s stock valued at $417,000 after purchasing an additional 1,143 shares during the last quarter. Centiva Capital LP purchased a new stake in Community Bank System during the 4th quarter valued at about $432,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Community Bank System during the 3rd quarter valued at about $536,000. 67.98% of the stock is currently owned by institutional investors.
In other news, EVP Brian D. Donahue sold 5,535 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $55.19, for a total transaction of $305,476.65. Following the sale, the executive vice president now owns 43,844 shares of the company’s stock, valued at approximately $2,419,750.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.20% of the company’s stock.
Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Monday, January 22nd. The bank reported $0.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.71. The firm had revenue of $139.90 million for the quarter, compared to the consensus estimate of $138.09 million. Community Bank System had a net margin of 28.34% and a return on equity of 9.18%. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. sell-side analysts forecast that Community Bank System, Inc. will post 3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Wednesday, March 14th. Community Bank System’s payout ratio is presently 61.54%.
CBU has been the topic of a number of recent analyst reports. Sandler O’Neill raised shares of Community Bank System from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Zacks Investment Research raised shares of Community Bank System from a “hold” rating to a “strong-buy” rating and set a $63.00 price target on the stock in a report on Tuesday, December 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of Community Bank System in a report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $58.00 price target on shares of Community Bank System in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Community Bank System presently has an average rating of “Hold” and a consensus target price of $56.60.
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About Community Bank System
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.
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