Texas Permanent School Fund, Inc. reduced its holdings in Community Bank System, Inc. (NYSE:CBU – free report ) by 6.5% during the second quarter, according to its latest Form 13F filing with the SEC. The company sold 3,039 shares during the quarter and now holds 43,632 shares of the bank’s stock. Texas Permanent School Fund, Inc. holds about 0.08% of Community Bank System’s stock, valued at $2,060,000, according to its latest filing with the SEC.
Other hedge funds and institutional investors are also buying and selling shares of the company. Benjamin Edwards & Co. increased its stake in Community Bank System by 40.7% in the first quarter. Benjamin Edwards & Co. now owns 2,695 shares of the bank’s stock, valued at $129,000. It acquired an additional 780 shares in the last quarter. TFO Wealth Partners LLC increased its stake in Community Bank System by 37,162.5% in the fourth quarter. TFO Wealth Partners LLC now owns 2,973 shares of the bank’s stock, valued at $155,000. Avantax Advisory Services Inc. acquired a new stake in Community Bank System worth $208,000 in the fourth quarter. IFG Advisory LLC acquired a new stake in Community Bank System worth $212,000 in the second quarter. Finally, Olympiad Research LP acquired a new stake in Community Bank System during the 4th quarter worth $214,000. Institutional investors and hedge funds now own 73.79% of the company’s shares.
Community Bank System Stock Performance
CBU’s shares opened trading at $58.16 on Wednesday. The company’s 50-day simple moving average is $58.48 and its 200-day simple moving average is $50.08. Community Bank System, Inc. has a 12-month low of $35.38 and a 12-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 company has a market capitalization of $3.07 billion, a P/E ratio of 18.29 and a beta of 0.64.
Community Bank System (NYSE:CBU – get free report ) last announced its earnings results on Tuesday, July 23rd. The bank reported quarterly EPS of $0.95, beating the consensus estimate of $0.81 by $0.14. The business had revenue of $183.80 million for the quarter, compared to analysts’ expectations of $180.05 million. Community Bank System had an ROE of 8.94% and a net margin of 15.90%. The company’s revenue grew 4.9% year-over-year. In the same quarter last year, the company reported earnings per share of $0.91. Analysts expect Community Bank System to post EPS of 3.42 this year.
Community Bank System Increases Dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Thursday, October 10th. Investors of record on Friday, September 13th will be paid a dividend of $0.46 per share. This equates to a dividend of $1.84 on an annualized basis, or a dividend yield of 3.16%. The ex-dividend date for this dividend is Friday, September 13th. This is an increase from Community Bank System’s previous quarterly dividend of $0.45. Community Bank System’s dividend payout ratio is currently 57.86%.
Analyst upgrades and downgrades
Several stock analysts have commented on the company. Raymond James downgraded Community Bank System from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods reaffirmed their “market perform” rating on shares of Community Bank System in a research note on Tuesday, September 10th, setting a $59.00 target price. Two investment analysts have rated the stock as a sell, and three have rated it as a hold. Based on data from MarketBeat.com, the company has a consensus rating of “hold” and an average target price of $50.50.
Read the latest stock report on Community Bank Systems
Community Bank System Profile
(Free report)
Community Bank System, Inc operates as the bank holding company for Community Bank, NA, which provides a variety of banking and other financial services to retail, commercial, institutional and municipal customers. The company operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers a variety of deposit products, including interest-bearing and non-interest-bearing checking accounts, savings accounts, money market deposit accounts, and term deposits.
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