Brookstone Capital Management Cuts Stake in Community Bank System, Inc. (NYSE:CBU)

Brookstone Capital Management trimmed its position in shares of Community Bank System, Inc. (NYSE:CBU) by 11.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 5,200 shares of the bank’s stock after selling 697 shares during the period. Brookstone Capital Management’s holdings in Community Bank System were worth $250,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Strs Ohio grew its position in Community Bank System by 900.0% during the 4th quarter. Strs Ohio now owns 1,000 shares of the bank’s stock valued at $52,000 after purchasing an additional 900 shares during the last quarter. TFO Wealth Partners LLC grew its position in Community Bank System by 37,162.5% during the 4th quarter. TFO Wealth Partners LLC now owns 2,981 shares of the bank’s stock valued at $155,000 after purchasing an additional 2,973 shares during the last quarter. Invesco LLC purchased a new stake in Community Bank System during the 4th quarter valued at about $181,000. Bailard Inc. purchased a new stake in Community Bank System during the 4th quarter valued at about $203,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in Community Bank System during the 4th quarter valued at about $206,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Community Bank System

In other Community Bank System news, CEO Dimitar Karaivanov acquired 1,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were purchased at an average price of $43.52 per share, for a total transaction of $43,520.00. Following the purchase, the chief executive officer now directly owns 19,653 shares of the company’s stock, valued at $855,298.56. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reaffirmed a “neutral” rating and set a $50.00 price target on shares of Community Bank System in a report on Thursday, March 14th.

Community Bank System Stock Performance

Shares of NYSE CBU opened at $47.10 on Wednesday. The firm’s 50-day moving average price is $45.59 and its 200-day moving average price is $46.50. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.49 billion, a PE ratio of 14.81 and a beta of 0.65. Community Bank System, Inc. has a 52-week low of $35.38 and a 52-week high of $55.45.

Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.03. Community Bank System had a net margin of 16.59% and a return on equity of 8.93%. The firm had revenue of $178.29 million for the quarter, compared to analysts’ expectations of $178.97 million. As a group, analysts anticipate that Community Bank System, Inc. will post 3.21 EPS for the current year.

Community Bank System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, June 14th. Community Bank System’s dividend payout ratio (DPR) is presently 56.60%.

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.