Community Bank System, Inc. (NYSE:CBU) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC grew its position in Community Bank System, Inc. (NYSE:CBU) by 491.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,253 shares of the bank’s stock after acquiring an additional 1,872 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Community Bank System were worth $118,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Raymond James & Associates raised its stake 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. Envestnet Asset Management Inc. raised its position in Community Bank System by 1.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 17,610 shares of the bank’s stock worth $1,109,000 after acquiring an additional 176 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Community Bank System by 0.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 27,727 shares of the bank’s stock worth $1,745,000 after acquiring an additional 177 shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of Community Bank System by 5.8% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,377 shares of the bank’s stock valued at $213,000 after buying an additional 186 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Community Bank System by 13.5% in the fourth quarter. Van ECK Associates Corp now owns 1,703 shares of the bank’s stock valued at $107,000 after buying an additional 202 shares in the last quarter. 75.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Community Bank System Stock Down 0.2 %

CBU opened at $47.47 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.54 billion, a P/E ratio of 16.54 and a beta of 0.59. Community Bank System, Inc. has a 52 week low of $42.10 and a 52 week high of $66.32. The business’s fifty day simple moving average is $49.09 and its 200 day simple moving average is $50.92.

Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Monday, July 31st. The bank reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Community Bank System had a return on equity of 12.59% and a net margin of 22.00%. The business had revenue of $176.34 million for the quarter, compared to analyst estimates of $180.63 million. As a group, equities research analysts anticipate 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. Shareholders of record on Friday, September 15th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.79%. This is a positive change from Community Bank System’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, September 14th. Community Bank System’s dividend payout ratio (DPR) is presently 62.72%.

Insiders Place Their Bets

In other Community Bank System news, COO Dimitar Karaivanov purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were purchased at an average cost of $48.50 per share, with a total value of $48,500.00. Following the purchase, the chief operating officer now owns 14,265 shares in the company, valued at $691,852.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.89% of the stock is owned by corporate insiders.

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.