UBS Asset Management Americas Inc. Has $1.40 Million Position in Community Bank System, Inc. (NYSE:CBU)
UBS Asset Management Americas Inc. boosted its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 38.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,488 shares of the bank’s stock after buying an additional 7,082 shares during the period. UBS Asset Management Americas Inc. owned about 0.06% of Community Bank System worth $1,401,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Swiss National Bank raised its stake in Community Bank System by 1.1% in the first quarter. Swiss National Bank now owns 73,500 shares of the bank’s stock valued at $4,041,000 after buying an additional 800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Community Bank System by 62.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,906 shares of the bank’s stock worth $105,000 after buying an additional 733 shares during the last quarter. Comerica Bank raised its stake in shares of Community Bank System by 4.7% in the first quarter. Comerica Bank now owns 49,305 shares of the bank’s stock worth $2,809,000 after buying an additional 2,221 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Community Bank System by 12.1% in the first quarter. BNP Paribas Arbitrage SA now owns 9,206 shares of the bank’s stock worth $506,000 after buying an additional 991 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Community Bank System by 5.4% in the first quarter. Bank of New York Mellon Corp now owns 664,599 shares of the bank’s stock worth $36,539,000 after buying an additional 34,165 shares during the last quarter. 64.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Community Bank System, Inc. (NYSE CBU) traded up 0.13% during trading on Tuesday, hitting $54.98. 97,396 shares of the company were exchanged. Community Bank System, Inc. has a 12 month low of $42.67 and a 12 month high of $63.04. The company’s 50-day moving average price is $55.38 and its 200 day moving average price is $56.33. The stock has a market cap of $2.78 billion, a P/E ratio of 26.31 and a beta of 1.07.
Community Bank System (NYSE:CBU) last announced its quarterly earnings data on Monday, July 31st. The bank reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.13. The company had revenue of $129.26 million during the quarter, compared to analyst estimates of $127 million. Community Bank System had a net margin of 20.63% and a return on equity of 9.04%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the business earned $0.58 EPS. On average, equities analysts predict that Community Bank System, Inc. will post $2.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 10th. Shareholders of record on Thursday, June 15th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.33%. The ex-dividend date was Tuesday, June 13th. Community Bank System’s dividend payout ratio is currently 60.38%.
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A number of brokerages have issued reports on CBU. BidaskClub raised Community Bank System from a “strong sell” rating to a “sell” rating in a research report on Friday. Royal Bank Of Canada reissued a “hold” rating on shares of Community Bank System in a research report on Wednesday, August 2nd. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $51.00 price target on shares of Community Bank System in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $53.60.
In other Community Bank System news, Director Nicholas A. Dicerbo sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $56.03, for a total transaction of $168,090.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is owned by company insiders.
About Community Bank System
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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