Cubist Systematic Strategies LLC Acquires 21,596 Shares of Community Bank System, Inc. (NYSE:CBU)

Cubist Systematic Strategies LLC boosted its holdings in Community Bank System, Inc. (NYSE:CBU) by 47.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 66,645 shares of the bank’s stock after acquiring an additional 21,596 shares during the period. Cubist Systematic Strategies LLC’s holdings in Community Bank System were worth $3,146,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new position in shares of Community Bank System during the second quarter valued at approximately $76,000. Benjamin Edwards Inc. raised its stake in Community Bank System by 40.7% during the 1st quarter. Benjamin Edwards Inc. now owns 2,695 shares of the bank’s stock valued at $129,000 after buying an additional 780 shares during the last quarter. TFO Wealth Partners LLC lifted its holdings in shares of 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 buying an additional 2,973 shares during the period. IFG Advisory LLC bought a new position in shares of Community Bank System during the 2nd quarter valued at $212,000. Finally, QRG Capital Management Inc. boosted its stake in shares of Community Bank System by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank’s stock worth $231,000 after buying an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Community Bank System Trading Up 0.1 %

NYSE:CBU opened at $57.20 on Friday. Community Bank System, Inc. has a one year low of $35.38 and a one year high of $63.95. The business has a fifty day moving average price of $59.04 and a 200-day moving average price of $50.67. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 17.99 and a beta of 0.64. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.76 and a quick ratio of 0.76.

Community Bank System (NYSE:CBU) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.95 EPS for the quarter, beating the consensus estimate of $0.81 by $0.14. The firm had revenue of $183.80 million for the quarter, compared to the consensus estimate of $180.05 million. Community Bank System had a net margin of 15.90% and a return on equity of 8.94%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS. Sell-side analysts forecast that Community Bank System, Inc. will post 3.42 EPS for the current year.

Community Bank System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 13th will be given a dividend of $0.46 per share. This is a positive change from Community Bank System’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.22%. Community Bank System’s dividend payout ratio (DPR) is presently 57.86%.

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, 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.