Cubist Systematic Strategies LLC Takes $559,000 Position in Community Bank System, Inc. (CBU)
Cubist Systematic Strategies LLC acquired a new stake in Community Bank System, Inc. (NYSE:CBU) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,123 shares of the bank’s stock, valued at approximately $559,000.
A number of other institutional investors and hedge funds also recently modified their holdings of CBU. Empire Life Investments Inc. grew its position in Community Bank System by 17.9% in the 3rd quarter. Empire Life Investments Inc. now owns 7,541 shares of the bank’s stock valued at $417,000 after acquiring an additional 1,143 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Community Bank System by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,896,653 shares of the bank’s stock valued at $104,789,000 after acquiring an additional 21,213 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Community Bank System by 6.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 269,437 shares of the bank’s stock valued at $14,887,000 after acquiring an additional 15,264 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Community Bank System in the 3rd quarter valued at about $1,212,000. Finally, Wells Fargo & Company MN grew its position in Community Bank System by 31.1% in the 3rd quarter. Wells Fargo & Company MN now owns 81,102 shares of the bank’s stock valued at $4,481,000 after acquiring an additional 19,258 shares in the last quarter. Hedge funds and other institutional investors own 69.19% of the company’s stock.
Community Bank System, Inc. (CBU) opened at $54.26 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $2,760.00, a P/E ratio of 25.47, a P/E/G ratio of 2.05 and a beta of 1.07. Community Bank System, Inc. has a fifty-two week low of $48.89 and a fifty-two week high of $63.04.
Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Monday, October 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.06. The firm had revenue of $137.30 million during the quarter, compared to the consensus estimate of $138.74 million. Community Bank System had a return on equity of 9.22% and a net margin of 21.00%. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 earnings per share. equities analysts anticipate that Community Bank System, Inc. will post 2.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, December 14th. Community Bank System’s dividend payout ratio (DPR) is 63.85%.
In other Community Bank System news, Director R Kallet Michael sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $56.38, for a total value of $422,850.00. Following the completion of the sale, the director now owns 4,103 shares in the company, valued at $231,327.14. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Brian D. Donahue sold 5,535 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $55.19, for a total value of $305,476.65. Following the completion of the sale, the executive vice president now owns 43,844 shares of the company’s stock, valued at approximately $2,419,750.36. The disclosure for this sale can be found here. Insiders sold 15,035 shares of company stock valued at $840,327 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Community Bank System from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. DA Davidson set a $55.00 price objective on Community Bank System and gave the stock a “hold” rating in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Sandler O’Neill raised Community Bank System from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $54.00 price objective on shares of Community Bank System in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the stock. Community Bank System currently has an average rating of “Hold” and a consensus target price of $55.80.
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Community Bank System Profile
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.
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