Virtu Financial LLC purchased a new stake in Community Bank System, Inc. (NYSE:CBU) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,401 shares of the bank’s stock, valued at approximately $210,000.
A number of other institutional investors and hedge funds have also made changes to their positions in CBU. Arizona State Retirement System lifted its stake in Community Bank System by 1.0% in the second quarter. Arizona State Retirement System now owns 79,932 shares of the bank’s stock valued at $5,263,000 after buying an additional 767 shares during the last quarter. Strs Ohio grew its holdings in Community Bank System by 22.2% in the second quarter. Strs Ohio now owns 5,500 shares of the bank’s stock valued at $362,000 after purchasing an additional 1,000 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Community Bank System by 128.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 54,200 shares of the bank’s stock valued at $3,569,000 after purchasing an additional 30,475 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Community Bank System by 2.6% in the second quarter. Janney Montgomery Scott LLC now owns 22,785 shares of the bank’s stock valued at $1,500,000 after purchasing an additional 577 shares during the last quarter. Finally, Aperio Group LLC grew its holdings in Community Bank System by 3.9% in the second quarter. Aperio Group LLC now owns 23,471 shares of the bank’s stock valued at $1,545,000 after purchasing an additional 875 shares during the last quarter. 71.00% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised Community Bank System from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd.
Shares of CBU traded up $0.47 during trading hours on Monday, reaching $71.07. 180,600 shares of the company traded hands, compared to its average volume of 198,869. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.65 billion, a PE ratio of 21.09 and a beta of 1.00. Community Bank System, Inc. has a fifty-two week low of $56.58 and a fifty-two week high of $71.61. The stock has a fifty day simple moving average of $68.73 and a 200 day simple moving average of $65.04.
Community Bank System (NYSE:CBU) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $150.53 million. During the same quarter last year, the company earned $0.81 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts predict that Community Bank System, Inc. will post 3.24 EPS for the current fiscal year.
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 paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Thursday, December 12th. Community Bank System’s payout ratio is 48.66%.
In related news, Director Eric Stickels sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $68.12, for a total transaction of $204,360.00. Following the sale, the director now directly owns 37,664 shares in the company, valued at approximately $2,565,671.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director R Kallet Michael sold 1,500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $69.23, for a total value of $103,845.00. Following the sale, the director now owns 49,909 shares in the company, valued at $3,455,200.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,342 shares of company stock worth $911,723. 2.15% of the stock is owned by corporate insiders.
About Community Bank System
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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