Community Bank System, Inc. (NYSE:CBU) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in shares of Community Bank System, Inc. (NYSE:CBU) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,088 shares of the bank’s stock after purchasing an additional 484 shares during the period. The Manufacturers Life Insurance Company’s holdings in Community Bank System were worth $1,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CBU. Dark Forest Capital Management LP acquired a new position in Community Bank System in the second quarter valued at $231,000. Cubist Systematic Strategies LLC boosted its stake in Community Bank System by 47.9% in the second quarter. Cubist Systematic Strategies LLC now owns 66,645 shares of the bank’s stock valued at $3,146,000 after acquiring an additional 21,596 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Community Bank System in the second quarter valued at $76,000. Marshall Wace LLP acquired a new position in Community Bank System in the second quarter valued at $538,000. Finally, Public Sector Pension Investment Board boosted its stake in Community Bank System by 6.2% in the second quarter. Public Sector Pension Investment Board now owns 116,116 shares of the bank’s stock valued at $5,482,000 after acquiring an additional 6,812 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Bank System Trading Up 3.5 %

NYSE CBU opened at $59.75 on Friday. The stock has a market capitalization of $3.15 billion, a P/E ratio of 18.79 and a beta of 0.64. Community Bank System, Inc. has a 52-week low of $35.38 and a 52-week high of $63.95. The firm has a 50-day moving average price of $58.38 and a 200 day moving average price of $51.54. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.43.

Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.14. The firm had revenue of $183.80 million during the quarter, compared to analysts’ expectations of $180.05 million. Community Bank System had a net margin of 15.90% and a return on equity of 8.94%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Equities research analysts expect that Community Bank System, Inc. will post 3.42 EPS for the current year.

Community Bank System Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Friday, September 13th were issued a $0.46 dividend. The ex-dividend date of this dividend was Friday, September 13th. This is a boost from Community Bank System’s previous quarterly dividend of $0.45. This represents a $1.84 dividend on an annualized basis and a yield of 3.08%. Community Bank System’s dividend payout ratio (DPR) is 57.86%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CBU shares. Raymond James downgraded shares of Community Bank System from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $59.00 price objective on shares of Community Bank System in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.50.

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.