Neuberger Berman Group LLC trimmed its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,409,561 shares of the bank’s stock after selling 43,498 shares during the period. Neuberger Berman Group LLC owned about 4.50% of Community Bank System worth $137,200,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Handelsbanken Fonder AB acquired a new stake in shares of Community Bank System during the 2nd quarter worth approximately $600,000. FMR LLC raised its stake in shares of Community Bank System by 115.8% during the 2nd quarter. FMR LLC now owns 398,742 shares of the bank’s stock worth $22,736,000 after buying an additional 213,992 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Community Bank System by 2.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 418,702 shares of the bank’s stock worth $23,875,000 after buying an additional 9,438 shares in the last quarter. Rockbridge Investment Management LCC acquired a new stake in Community Bank System in the 2nd quarter valued at about $82,000. Finally, AQR Capital Management LLC increased its holdings in shares of Community Bank System by 95.1% in the second quarter. AQR Capital Management LLC now owns 9,162 shares of the bank’s stock valued at $522,000 after purchasing an additional 4,467 shares during the last quarter. Institutional investors own 68.57% of the company’s stock.
Shares of NYSE CBU traded down $0.02 during mid-day trading on Wednesday, hitting $58.02. The company had a trading volume of 12,784 shares, compared to its average volume of 181,159. Community Bank System, Inc. has a 1-year low of $47.01 and a 1-year high of $72.63. The company has a market capitalization of $3.11 billion, a PE ratio of 19.50 and a beta of 0.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.78 and a quick ratio of 0.78. The business’s 50-day simple moving average is $59.36 and its 200 day simple moving average is $58.51.
Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Monday, July 27th. The bank reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.16. The company had revenue of $144.90 million for the quarter, compared to analyst estimates of $147.27 million. Community Bank System had a return on equity of 8.69% and a net margin of 25.46%. Community Bank System’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.80 EPS. On average, analysts expect that Community Bank System, Inc. will post 2.97 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Tuesday, September 15th will be issued a $0.42 dividend. This is a boost from Community Bank System’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.68 annualized dividend and a yield of 2.90%. Community Bank System’s dividend payout ratio (DPR) is 51.06%.
Several analysts have recently commented on the stock. Stephens initiated coverage on shares of Community Bank System in a research report on Monday, June 1st. They set an “equal weight” rating on the stock. Raymond James reissued a “hold” rating on shares of Community Bank System in a research report on Friday, August 21st. Finally, Zacks Investment Research cut shares of Community Bank System from a “buy” rating to a “hold” rating in a research report on Tuesday.
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, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.
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