Charles Schwab Investment Management Inc. Boosts Holdings in Community Bank System, Inc. (NYSE:CBU)

Charles Schwab Investment Management Inc. increased its position in shares of Community Bank System, Inc. (NYSE:CBU) by 1.5% in the third quarter, Holdings Channel.com reports. The firm owned 652,991 shares of the bank’s stock after purchasing an additional 9,863 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Community Bank System were worth $37,919,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC purchased a new stake in Community Bank System in the 3rd quarter valued at about $716,000. Hilton Capital Management LLC increased its stake in shares of Community Bank System by 13.9% during the third quarter. Hilton Capital Management LLC now owns 38,322 shares of the bank’s stock valued at $2,225,000 after buying an additional 4,676 shares during the period. LMR Partners LLP purchased a new position in shares of Community Bank System during the third quarter valued at $334,000. Quest Partners LLC purchased a new stake in shares of Community Bank System in the 3rd quarter worth approximately $1,551,000. Finally, Natixis Advisors LLC raised its position in shares of Community Bank System by 10.0% in the 3rd quarter. Natixis Advisors LLC now owns 13,488 shares of the bank’s stock worth $783,000 after acquiring an additional 1,228 shares in the last quarter. 73.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Raymond James upgraded Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective for the company in a report on Monday, October 28th. Keefe, Bruyette & Woods reiterated 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.

Insider Activity at Community Bank System

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $73.10, for a total transaction of $287,794.70. Following the transaction, the director now directly owns 5,823 shares of the company’s stock, valued at approximately $425,661.30. This trade represents a 40.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.89% of the stock is currently owned by corporate insiders.

Community Bank System Trading Down 0.2 %

Shares of CBU stock opened at $69.13 on Tuesday. The company’s 50-day moving average price is $63.02 and its 200-day moving average price is $56.61. Community Bank System, Inc. has a twelve month low of $41.50 and a twelve month high of $73.39. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 21.53 and a beta of 0.62.

Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.05). Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The company had revenue of $188.94 million for the quarter, compared to analysts’ expectations of $186.35 million. During the same period in the previous year, the business posted $0.82 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts predict that Community Bank System, Inc. will post 3.38 earnings per share for the current year.

Community Bank System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, December 13th. Community Bank System’s dividend payout ratio (DPR) is presently 57.32%.

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.