Creative Planning lessened its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,953 shares of the bank’s stock after selling 250 shares during the period. Creative Planning owned about 0.16% of Community Bank System worth $4,836,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Destination Wealth Management acquired a new position in shares of Community Bank System during the 3rd quarter worth approximately $122,000. US Bancorp DE grew its position in shares of Community Bank System by 67.5% during the 3rd quarter. US Bancorp DE now owns 3,225 shares of the bank’s stock worth $197,000 after purchasing an additional 1,300 shares in the last quarter. Alpha Omega Wealth Management LLC acquired a new position in shares of Community Bank System during the 3rd quarter worth approximately $212,000. Wakefield Asset Management LLLP acquired a new position in shares of Community Bank System during the 3rd quarter worth approximately $256,000. Finally, Fifth Third Bancorp grew its position in shares of Community Bank System by 30.8% during the 3rd quarter. Fifth Third Bancorp now owns 4,249 shares of the bank’s stock worth $259,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 70.55% of the company’s stock.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Community Bank System from a “buy” rating to a “hold” rating in a research report on Monday, November 19th. ValuEngine lowered shares of Community Bank System from a “buy” rating to a “hold” rating in a research report on Wednesday, December 5th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Community Bank System in a research report on Monday, October 22nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $60.00.
NYSE CBU opened at $61.39 on Wednesday. The company has a market cap of $3.14 billion, a P/E ratio of 18.21, a PEG ratio of 2.38 and a beta of 0.91. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24. Community Bank System, Inc. has a 1 year low of $50.72 and a 1 year high of $67.07.
Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Wednesday, January 23rd. The bank reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.02). The company had revenue of $141.61 million during the quarter, compared to the consensus estimate of $142.54 million. Community Bank System had a net margin of 28.74% and a return on equity of 10.54%. During the same period in the previous year, the company earned $0.64 EPS. Equities analysts expect that Community Bank System, Inc. will post 3.22 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 10th. Investors of record on Friday, December 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.48%. The ex-dividend date was Thursday, December 13th. Community Bank System’s payout ratio is 45.10%.
In related news, Director R Kallet Michael sold 1,700 shares of the stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $60.80, for a total value of $103,360.00. Following the completion of the transaction, the director now owns 1,300 shares of the company’s stock, valued at approximately $79,040. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.34% of the stock is owned by corporate insiders.
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About Community Bank System
Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and 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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