Insider Selling: Community Bank System Inc. (CBU) Director Sells 4,631 Shares of Stock
Community Bank System Inc. (NYSE:CBU) Director Sally A. Steele sold 4,631 shares of Community Bank System stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $54.88, for a total value of $254,149.28. Following the transaction, the director now owns 51,375 shares in the company, valued at approximately $2,819,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Community Bank System Inc. (NYSE:CBU) traded up 0.56% during midday trading on Tuesday, hitting $56.00. The stock had a trading volume of 188,954 shares. Community Bank System Inc. has a 12-month low of $34.27 and a 12-month high of $56.13. The stock has a market cap of $2.49 billion, a P/E ratio of 25.27 and a beta of 0.92. The stock has a 50-day moving average price of $48.78 and a 200-day moving average price of $44.72.
Community Bank System (NYSE:CBU) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The business had revenue of $108.40 million for the quarter, compared to analysts’ expectations of $108.96 million. Community Bank System had a return on equity of 8.42% and a net margin of 22.65%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. Equities analysts forecast that Community Bank System Inc. will post $2.32 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 10th. Investors of record on Thursday, December 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Tuesday, December 13th. Community Bank System’s dividend payout ratio is currently 57.92%.
CBU has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Community Bank System from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Monday, July 25th. Hovde Group lifted their target price on Community Bank System from $43.00 to $49.00 and gave the company a “market perform” rating in a research report on Tuesday, October 25th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $44.00.
Several large investors have recently added to or reduced their stakes in CBU. Victory Capital Management Inc. boosted its stake in Community Bank System by 0.4% in the third quarter. Victory Capital Management Inc. now owns 2,968 shares of the company’s stock worth $143,000 after buying an additional 12 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Community Bank System by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the company’s stock worth $801,000 after buying an additional 100 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Community Bank System by 2.4% in the second quarter. O Shaughnessy Asset Management LLC now owns 5,016 shares of the company’s stock worth $206,000 after buying an additional 118 shares in the last quarter. Profund Advisors LLC boosted its stake in Community Bank System by 1.3% in the second quarter. Profund Advisors LLC now owns 9,643 shares of the company’s stock worth $396,000 after buying an additional 123 shares in the last quarter. Finally, Maple Capital Management Inc. boosted its stake in Community Bank System by 0.4% in the third quarter. Maple Capital Management Inc. now owns 29,092 shares of the company’s stock worth $1,400,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 65.22% of the company’s stock.
Community Bank System Company Profile
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.
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