Comerica Bank reduced its holdings in Community Bank System, Inc. (NYSE:CBU – Get Rating) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,137 shares of the bank’s stock after selling 4,800 shares during the period. Comerica Bank owned about 0.08% of Community Bank System worth $2,482,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC purchased a new stake in Community Bank System in the 3rd quarter worth about $26,000. Wipfli Financial Advisors LLC purchased a new stake in Community Bank System in the 3rd quarter worth about $29,000. Eagle Bay Advisors LLC purchased a new stake in Community Bank System in the 2nd quarter worth about $32,000. Covestor Ltd lifted its stake in 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 acquiring an additional 265 shares in the last quarter. Finally, Cambridge Trust Co. purchased a new stake in Community Bank System in the 2nd quarter worth about $44,000. 71.78% of the stock is owned by hedge funds and other institutional investors.
Community Bank System Stock Performance
Shares of NYSE CBU opened at $60.54 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 18.40 and a beta of 0.67. The business’s 50-day simple moving average is $63.04 and its 200-day simple moving average is $64.10. Community Bank System, Inc. has a 52 week low of $58.28 and a 52 week high of $76.87.
Community Bank System (NYSE:CBU – Get Rating) last issued its quarterly earnings data on Monday, October 24th. The bank reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The company had revenue of $175.64 million for the quarter, compared to analyst estimates of $173.18 million. Community Bank System had a net margin of 26.44% and a return on equity of 10.56%. As a group, equities research analysts expect that Community Bank System, Inc. will post 3.52 earnings per share for the current fiscal year.
Community Bank System Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 10th. Stockholders of record on Thursday, December 15th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Wednesday, December 14th. Community Bank System’s dividend payout ratio is 53.50%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on CBU shares. StockNews.com downgraded Community Bank System from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Raymond James started coverage on Community Bank System in a research report on Tuesday, December 20th. They issued a “market perform” rating on the stock. Hovde Group dropped their target price on Community Bank System to $67.00 in a research report on Thursday, October 27th. Finally, DA Davidson dropped their target price on Community Bank System to $59.00 in a research report on Thursday, October 27th.
About Community Bank System
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.