BNP Paribas Arbitrage SA Buys 13,365 Shares of Community Bank System, Inc. (CBU)

BNP Paribas Arbitrage SA boosted its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 87.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,723 shares of the bank’s stock after purchasing an additional 13,365 shares during the quarter. BNP Paribas Arbitrage SA owned approximately 0.06% of Community Bank System worth $1,587,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CBU. State Street Corp increased its holdings in Community Bank System by 69.6% during the 2nd quarter. State Street Corp now owns 5,020,816 shares of the bank’s stock worth $280,008,000 after purchasing an additional 2,059,920 shares during the period. BlackRock Inc. increased its holdings in shares of Community Bank System by 11.2% in the 2nd quarter. BlackRock Inc. now owns 6,034,186 shares of the bank’s stock valued at $336,527,000 after acquiring an additional 609,319 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Community Bank System by 7.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,808,411 shares of the bank’s stock valued at $268,165,000 after acquiring an additional 353,538 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Community Bank System by 175.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 153,449 shares of the bank’s stock valued at $8,558,000 after acquiring an additional 97,732 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Community Bank System by 6.8% in the 2nd quarter. Northern Trust Corp now owns 1,459,745 shares of the bank’s stock valued at $81,410,000 after acquiring an additional 92,700 shares during the last quarter. Institutional investors own 68.69% of the company’s stock.

A number of research firms have recently commented on CBU. Zacks Investment Research downgraded Community Bank System from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. DA Davidson set a $55.00 price objective on Community Bank System and gave the company a “hold” rating in a report on Tuesday, October 24th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $54.00 price objective on shares of Community Bank System in a report on Friday, October 13th. BidaskClub downgraded Community Bank System from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $51.00 price objective on shares of Community Bank System in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $55.20.

Community Bank System, Inc. (CBU) opened at $53.23 on Friday. Community Bank System, Inc. has a 1-year low of $48.89 and a 1-year high of $63.04. The company has a market capitalization of $2,693.92, a PE ratio of 19.64, a PEG ratio of 2.04 and a beta of 1.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.72 and a quick ratio of 0.72.

Community Bank System (NYSE:CBU) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. The business had revenue of $137.30 million for 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 business’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 EPS. sell-side analysts forecast that Community Bank System, Inc. will post 2.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 15th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.55%. Community Bank System’s dividend payout ratio (DPR) is presently 62.10%.

In related news, Director Brian R. Ace sold 5,457 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $53.35, for a total value of $291,130.95. Following the completion of the sale, the director now directly owns 55,647 shares of the company’s stock, valued at approximately $2,968,767.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director R Kallet Michael sold 5,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $52.55, for a total value of $262,750.00. Following the completion of the sale, the director now directly owns 16,603 shares of the company’s stock, valued at $872,487.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,457 shares of company stock valued at $1,085,081. Insiders own 3.20% of the company’s stock.

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About Community Bank System

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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Institutional Ownership by Quarter for Community Bank System (NYSE:CBU)

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