Community Bank System, Inc. (NYSE:CBU) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 14,655.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,854 shares of the bank’s stock after acquiring an additional 17,733 shares during the quarter. GAMMA Investing LLC’s holdings in Community Bank System were worth $1,015,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its stake in Community Bank System by 5.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 52,521 shares of the bank’s stock valued at $3,239,000 after purchasing an additional 2,839 shares during the period. Jefferies Financial Group Inc. acquired a new position in Community Bank System in the fourth quarter valued at $874,000. Mackenzie Financial Corp acquired a new position in Community Bank System in the fourth quarter valued at $204,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Community Bank System by 16.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 128,437 shares of the bank’s stock valued at $7,922,000 after purchasing an additional 18,570 shares during the period. Finally, Tidal Investments LLC increased its stake in Community Bank System by 4.6% in the fourth quarter. Tidal Investments LLC now owns 32,294 shares of the bank’s stock valued at $1,992,000 after purchasing an additional 1,428 shares during the period. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Community Bank System from a “sell” rating to a “hold” rating in a research note on Friday, May 16th.

Community Bank System Trading Down 0.6%

Shares of Community Bank System stock opened at $54.82 on Tuesday. Community Bank System, Inc. has a 52-week low of $42.16 and a 52-week high of $73.39. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The company’s 50-day simple moving average is $55.64 and its 200-day simple moving average is $59.84. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 15.94 and a beta of 0.79.

Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The business had revenue of $196.20 million for the quarter, compared to analyst estimates of $197.13 million. During the same period in the previous year, the business posted $1.18 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Community Bank System, Inc. will post 4.18 earnings per share for the current year.

Community Bank System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 13th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Friday, June 13th. Community Bank System’s dividend payout ratio is currently 50.97%.

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.