Community Bank System, Inc. (NYSE:CBU) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in Community Bank System, Inc. (NYSE:CBU) by 6.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 116,116 shares of the bank’s stock after purchasing an additional 6,812 shares during the period. Public Sector Pension Investment Board’s holdings in Community Bank System were worth $5,482,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CBU. Quantbot Technologies LP acquired a new position in shares of Community Bank System in the first quarter valued at approximately $592,000. Assenagon Asset Management S.A. raised its holdings in Community Bank System by 152.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank’s stock valued at $8,611,000 after acquiring an additional 110,288 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Community Bank System during the 1st quarter worth $583,000. Boston Partners acquired a new stake in shares of Community Bank System during the first quarter worth $3,558,000. Finally, Tidal Investments LLC grew its position in shares of Community Bank System by 239.1% in the first quarter. Tidal Investments LLC now owns 17,257 shares of the bank’s stock valued at $829,000 after purchasing an additional 12,168 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Community Bank System Price Performance

Shares of Community Bank System stock opened at $57.48 on Thursday. The business’s fifty day moving average price is $59.10 and its 200 day moving average price is $50.55. Community Bank System, Inc. has a twelve month low of $35.38 and a twelve month high of $63.95. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $3.03 billion, a P/E ratio of 18.08 and a beta of 0.64.

Community Bank System (NYSE:CBU) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.14. The business had revenue of $183.80 million for the quarter, compared to analyst estimates of $180.05 million. Community Bank System had a return on equity of 8.94% and a net margin of 15.90%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. As a group, research analysts anticipate that Community Bank System, Inc. will post 3.42 earnings per share for the current year.

Community Bank System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.46 per share. This is an increase from Community Bank System’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, September 13th. Community Bank System’s payout ratio is currently 57.86%.

Analysts Set New Price Targets

CBU has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $59.00 target price on shares of Community Bank System in a research report on Tuesday, September 10th. Raymond James lowered shares of Community Bank System from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.50.

Community Bank System 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.