Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in Community Bank System, Inc. (NYSE:CBU)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Community Bank System, Inc. (NYSE:CBU) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,978 shares of the bank’s stock after purchasing an additional 761 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Community Bank System were worth $1,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Operose Advisors LLC purchased a new position in shares of Community Bank System in the third quarter valued at $166,000. Howland Capital Management LLC bought a new stake in shares of Community Bank System in the 4th quarter worth about $244,000. AlphaMark Advisors LLC purchased a new stake in shares of Community Bank System during the 3rd quarter valued at about $214,000. Fulton Bank N.A. lifted its holdings in shares of Community Bank System by 11.6% in the 4th quarter. Fulton Bank N.A. now owns 5,859 shares of the bank’s stock valued at $305,000 after acquiring an additional 607 shares during the last quarter. Finally, Inspire Investing LLC grew its position in Community Bank System by 8.5% in the third quarter. Inspire Investing LLC now owns 7,234 shares of the bank’s stock worth $305,000 after acquiring an additional 564 shares in the last quarter. Institutional investors own 73.79% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Dimitar Karaivanov purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased at an average price of $43.70 per share, for a total transaction of $43,700.00. Following the completion of the acquisition, the chief executive officer now owns 16,265 shares of the company’s stock, valued at $710,780.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Dimitar Karaivanov bought 1,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was acquired at an average cost of $43.70 per share, for a total transaction of $43,700.00. Following the acquisition, the chief executive officer now owns 16,265 shares of the company’s stock, valued at $710,780.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sally A. Steele sold 3,501 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $48.76, for a total value of $170,708.76. Following the transaction, the director now directly owns 33,634 shares in the company, valued at approximately $1,639,993.84. The disclosure for this sale can be found here. Insiders own 1.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. DA Davidson restated a “neutral” rating and set a $50.00 price objective on shares of Community Bank System in a research report on Thursday, March 14th. StockNews.com raised shares of Community Bank System to a “sell” rating in a research note on Friday, January 19th. Finally, Raymond James increased their target price on shares of Community Bank System from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.67.

Community Bank System Trading Down 0.1 %

Shares of NYSE CBU opened at $44.45 on Tuesday. The business’s 50 day moving average price is $45.20 and its 200-day moving average price is $45.86. Community Bank System, Inc. has a fifty-two week low of $35.38 and a fifty-two week high of $55.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 17.57 and a beta of 0.66.

Community Bank System (NYSE:CBU) last released its earnings results on Tuesday, January 23rd. The bank reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.08). The business had revenue of $177.00 million for the quarter, compared to the consensus estimate of $175.25 million. Community Bank System had a return on equity of 9.15% and a net margin of 13.78%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. On average, sell-side analysts expect that Community Bank System, Inc. will post 3.24 earnings per share for the current year.

Community Bank System Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 15th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 annualized dividend and a yield of 4.05%. Community Bank System’s dividend payout ratio (DPR) is 71.15%.

Community Bank System 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, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.