Swiss National Bank Sells 13,900 Shares of Community Bank System, Inc. (NYSE:CBU)

Swiss National Bank trimmed its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 10.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,900 shares of the bank’s stock after selling 13,900 shares during the quarter. Swiss National Bank owned 0.21% of Community Bank System worth $6,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CBU. Advisor Group Holdings Inc. lifted its position in shares of Community Bank System by 43.0% during the first quarter. Advisor Group Holdings Inc. now owns 5,912 shares of the bank’s stock worth $422,000 after purchasing an additional 1,777 shares during the last quarter. Raymond James & Associates lifted its position in shares of Community Bank System by 1.0% during the first quarter. Raymond James & Associates now owns 17,408 shares of the bank’s stock worth $1,221,000 after purchasing an additional 167 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Community Bank System by 15.8% during the first quarter. American Century Companies Inc. now owns 7,143 shares of the bank’s stock worth $501,000 after purchasing an additional 977 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Community Bank System by 2.7% in the first quarter. HighTower Advisors LLC now owns 20,597 shares of the bank’s stock valued at $1,447,000 after acquiring an additional 540 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Community Bank System by 20.9% in the first quarter. Citigroup Inc. now owns 51,951 shares of the bank’s stock valued at $3,644,000 after acquiring an additional 8,977 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Raymond James lifted their price objective on Community Bank System from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Hovde Group upgraded Community Bank System from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 28th. Finally, StockNews.com assumed coverage on Community Bank System in a report on Thursday, August 17th. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $59.83.

Insider Transactions at Community Bank System

In other Community Bank System news, COO Dimitar Karaivanov purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average price of $48.50 per share, for a total transaction of $48,500.00. Following the completion of the purchase, the chief operating officer now owns 14,265 shares of the company’s stock, valued at $691,852.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.75% of the company’s stock.

Community Bank System Stock Performance

Shares of Community Bank System stock opened at $47.09 on Tuesday. The company has a market capitalization of $2.52 billion, a PE ratio of 16.41 and a beta of 0.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.71 and a current ratio of 0.71. The company has a 50-day simple moving average of $49.19 and a two-hundred day simple moving average of $51.17. Community Bank System, Inc. has a one year low of $42.10 and a one year high of $66.97.

Community Bank System (NYSE:CBU) last announced its earnings results on Monday, July 31st. The bank reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Community Bank System had a net margin of 22.00% and a return on equity of 12.59%. The business had revenue of $176.34 million during the quarter, compared to the consensus estimate of $180.63 million. Research analysts expect that Community Bank System, Inc. will post 3.45 EPS for the current fiscal year.

Community Bank System Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.45 per share. This is a positive change from Community Bank System’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.82%. Community Bank System’s payout ratio is presently 61.32%.

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, 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.