Community Bank System, Inc. (NYSE:CBU) Director R Kallet Michael sold 1,500 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $66.62, for a total value of $99,930.00. Following the completion of the sale, the director now owns 51,409 shares in the company, valued at $3,424,867.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of CBU traded up $0.60 during midday trading on Wednesday, hitting $67.46. 203,628 shares of the company traded hands, compared to its average volume of 194,990. The stock has a 50-day moving average of $67.14 and a 200-day moving average of $64.25. Community Bank System, Inc. has a one year low of $54.46 and a one year high of $69.50. The firm has a market cap of $3.51 billion, a P/E ratio of 20.02 and a beta of 1.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.81 and a quick ratio of 0.81.
Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $148.40 million for the quarter, compared to analysts’ expectations of $150.53 million. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Community Bank System, Inc. will post 3.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Thursday, December 12th. Community Bank System’s dividend payout ratio is presently 48.66%.
Separately, Zacks Investment Research upgraded Community Bank System from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd.
Several institutional investors and hedge funds have recently made changes to their positions in CBU. Nuveen Asset Management LLC bought a new stake in shares of Community Bank System during the second quarter valued at about $13,606,000. Balyasny Asset Management LLC increased its position in shares of Community Bank System by 1,601.4% in the second quarter. Balyasny Asset Management LLC now owns 206,378 shares of the bank’s stock worth $13,588,000 after purchasing an additional 194,248 shares during the last quarter. Morgan Stanley increased its position in shares of Community Bank System by 120.7% in the second quarter. Morgan Stanley now owns 326,024 shares of the bank’s stock worth $21,465,000 after purchasing an additional 178,280 shares during the last quarter. BlackRock Inc. increased its position in shares of Community Bank System by 1.1% in the second quarter. BlackRock Inc. now owns 7,622,990 shares of the bank’s stock worth $501,897,000 after purchasing an additional 81,588 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new position in shares of Community Bank System in the second quarter worth approximately $3,656,000. Hedge funds and other institutional investors own 70.97% of the company’s stock.
Community Bank System Company 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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