Community Bank System (NYSE:CBU) Sets New 1-Year High at $71.62

Community Bank System, Inc. (NYSE:CBU) reached a new 52-week high on Thursday . The stock traded as high as $71.62 and last traded at $71.41, with a volume of 4987 shares changing hands. The stock had previously closed at $70.71.

Separately, Zacks Investment Research raised Community Bank System from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd.

The firm has a market capitalization of $3.69 billion, a P/E ratio of 21.22 and a beta of 1.01. The business has a 50-day moving average of $69.70 and a 200 day moving average of $65.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05.

Community Bank System (NYSE:CBU) last issued its earnings results on Monday, October 21st. The bank reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Community Bank System had a return on equity of 9.86% and a net margin of 27.57%. The business had revenue of $148.40 million during the quarter, compared to analyst estimates of $150.53 million. During the same period in the previous year, the company posted $0.81 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, research analysts forecast that Community Bank System, Inc. will post 3.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 13th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Thursday, December 12th. Community Bank System’s dividend payout ratio is 48.66%.

In other Community Bank System news, Director R Kallet Michael sold 1,500 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $66.62, for a total value of $99,930.00. Following the sale, the director now owns 51,409 shares in the company, valued at approximately $3,424,867.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph F. Serbun sold 7,342 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $68.59, for a total transaction of $503,587.78. Following the completion of the sale, the executive vice president now owns 14,599 shares in the company, valued at $1,001,345.41. The disclosure for this sale can be found here. Insiders have sold 13,342 shares of company stock valued at $911,723 in the last ninety days. Insiders own 2.15% of the company’s stock.

Several institutional investors have recently bought and sold shares of CBU. Bank of Montreal Can grew its position in Community Bank System by 81.2% during the second quarter. Bank of Montreal Can now owns 9,591 shares of the bank’s stock valued at $631,000 after buying an additional 4,297 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Community Bank System by 8.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 127,960 shares of the bank’s stock valued at $8,425,000 after buying an additional 10,288 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Community Bank System by 2.4% during the 2nd quarter. HighTower Advisors LLC now owns 25,837 shares of the bank’s stock valued at $1,705,000 after buying an additional 614 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Community Bank System by 1.1% during the 2nd quarter. BlackRock Inc. now owns 7,622,990 shares of the bank’s stock valued at $501,897,000 after buying an additional 81,588 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new stake in shares of Community Bank System during the 2nd quarter valued at about $306,000. Hedge funds and other institutional investors own 71.00% of the company’s stock.

About Community Bank System (NYSE:CBU)

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.

Further Reading: What is a stock buyback?

Receive News & Ratings for Community Bank System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Bank System and related companies with MarketBeat.com's FREE daily email newsletter.