Community Bank System, Inc. (CBU) Director R Kallet Michael Sells 5,000 Shares
Community Bank System, Inc. (NYSE:CBU) Director R Kallet Michael sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $52.55, for a total transaction of $262,750.00. Following the completion of the transaction, the director now directly owns 16,603 shares of the company’s stock, valued at $872,487.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Community Bank System, Inc. (NYSE CBU) traded down 0.08% on Tuesday, reaching $52.36. 276,429 shares of the company traded hands. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 25.04 and a beta of 1.09. Community Bank System, Inc. has a 1-year low of $42.67 and a 1-year high of $63.04. The stock’s 50-day moving average is $52.47 and its 200-day moving average is $54.68.
Community Bank System (NYSE:CBU) last announced its earnings results on Monday, July 31st. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.13. The company had revenue of $129.26 million during the quarter, compared to analyst estimates of $127.00 million. Community Bank System had a net margin of 20.63% and a return on equity of 9.04%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 earnings per share. Equities research analysts expect that Community Bank System, Inc. will post $2.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.60%. This is a positive change from Community Bank System’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, September 14th. Community Bank System’s payout ratio is 64.15%.
Several research analysts recently commented on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $51.00 price objective on shares of Community Bank System in a report on Thursday, August 3rd. BidaskClub raised shares of Community Bank System from a “strong sell” rating to a “sell” rating in a report on Friday, August 4th. Royal Bank of Canada reaffirmed a “hold” rating on shares of Community Bank System in a report on Wednesday, August 2nd. Finally, Zacks Investment Research raised shares of Community Bank System from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective for the company in a report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $54.80.
Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Community Bank System by 11.2% in the second quarter. BlackRock Inc. now owns 6,034,186 shares of the bank’s stock worth $336,527,000 after purchasing an additional 609,319 shares during the period. State Street Corp boosted its position in shares of Community Bank System by 69.6% in the second quarter. State Street Corp now owns 5,020,816 shares of the bank’s stock worth $280,008,000 after purchasing an additional 2,059,920 shares during the period. Vanguard Group Inc. boosted its position in shares of Community Bank System by 7.9% in the second quarter. Vanguard Group Inc. now owns 4,808,411 shares of the bank’s stock worth $268,165,000 after purchasing an additional 353,538 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Community Bank System by 4.9% in the first quarter. Neuberger Berman Group LLC now owns 2,390,198 shares of the bank’s stock worth $131,413,000 after purchasing an additional 110,843 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Community Bank System by 6.8% in the second quarter. Northern Trust Corp now owns 1,459,745 shares of the bank’s stock worth $81,410,000 after purchasing an additional 92,700 shares during the period. Institutional investors and hedge funds own 68.98% of the company’s stock.
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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