Atria Investments Inc Grows Stake in Community Bank System, Inc. (NYSE:CBU)

Atria Investments Inc raised its stake in Community Bank System, Inc. (NYSE:CBU) by 30.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,621 shares of the bank’s stock after acquiring an additional 1,787 shares during the quarter. Atria Investments Inc’s holdings in Community Bank System were worth $443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. QRG Capital Management Inc. raised its position in shares of Community Bank System by 19.9% in the third quarter. QRG Capital Management Inc. now owns 5,867 shares of the bank’s stock valued at $341,000 after purchasing an additional 972 shares during the period. Ausbil Investment Management Ltd raised its position in shares of Community Bank System by 494.7% in the third quarter. Ausbil Investment Management Ltd now owns 30,552 shares of the bank’s stock valued at $1,774,000 after purchasing an additional 25,415 shares during the period. Fulton Bank N.A. raised its position in shares of Community Bank System by 9.5% in the third quarter. Fulton Bank N.A. now owns 8,078 shares of the bank’s stock valued at $469,000 after purchasing an additional 702 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Community Bank System in the second quarter valued at approximately $76,000. Finally, Algert Global LLC bought a new stake in shares of Community Bank System in the second quarter valued at approximately $642,000. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Raymond James raised shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a research report on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $59.00 target price on shares of Community Bank System in a report on Tuesday, September 10th.

Community Bank System Stock Performance

Community Bank System stock opened at $67.85 on Thursday. The firm’s 50 day simple moving average is $61.16 and its 200 day simple moving average is $55.28. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $3.57 billion, a PE ratio of 21.14 and a beta of 0.62. Community Bank System, Inc. has a 1-year low of $41.50 and a 1-year high of $72.29.

Community Bank System (NYSE:CBU) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.05). The firm had revenue of $188.94 million for the quarter, compared to the consensus estimate of $186.35 million. Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. As a group, analysts expect that Community Bank System, Inc. will post 3.38 earnings per share for the current fiscal year.

Community Bank System Dividend Announcement

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 issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, December 13th. Community Bank System’s payout ratio is 57.32%.

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, 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.