Community Bank System, Inc. (NYSE:CBU) Shares Bought by Algert Global LLC

Algert Global LLC lifted its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 371.9% during the third quarter, HoldingsChannel.com reports. The firm owned 64,193 shares of the bank’s stock after purchasing an additional 50,590 shares during the period. Algert Global LLC’s holdings in Community Bank System were worth $3,728,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Citigroup Inc. grew its position in Community Bank System by 9.5% during the third quarter. Citigroup Inc. now owns 96,742 shares of the bank’s stock worth $5,618,000 after buying an additional 8,356 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Community Bank System by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 652,991 shares of the bank’s stock worth $37,919,000 after acquiring an additional 9,863 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Community Bank System in the 3rd quarter worth approximately $716,000. Hilton Capital Management LLC increased its stake in Community Bank System by 13.9% in the 3rd quarter. Hilton Capital Management LLC now owns 38,322 shares of the bank’s stock valued at $2,225,000 after purchasing an additional 4,676 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in Community Bank System during the third quarter worth $334,000. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CBU shares. Raymond James upgraded Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target for the company in a research report on Monday, October 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $59.00 target price on shares of Community Bank System in a report on Tuesday, September 10th.

Community Bank System Stock Performance

NYSE CBU opened at $71.50 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.35. Community Bank System, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $73.39. The business has a fifty day moving average of $61.67 and a 200-day moving average of $55.67. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 22.62 and a beta of 0.62.

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

Community Bank System Dividend Announcement

The firm 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 $0.46 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.84 annualized dividend and a yield of 2.57%. Community Bank System’s dividend payout ratio (DPR) is presently 57.32%.

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.