GSA Capital Partners LLP Purchases New Position in Community Bank System, Inc. (CBU)

GSA Capital Partners LLP purchased a new stake in Community Bank System, Inc. (NYSE:CBU) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 10,743 shares of the bank’s stock, valued at approximately $594,000.

Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Community Bank System by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the bank’s stock valued at $116,000 after buying an additional 174 shares during the last quarter. Pacad Investment Ltd. acquired a new position in shares of Community Bank System during the 2nd quarter worth about $139,000. SG Americas Securities LLC acquired a new position in shares of Community Bank System during the 3rd quarter worth about $151,000. Riverhead Capital Management LLC increased its stake in shares of Community Bank System by 104.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,862 shares of the bank’s stock worth $160,000 after purchasing an additional 1,462 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Community Bank System by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,501 shares of the bank’s stock worth $195,000 after purchasing an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Several research firms have recently weighed in on CBU. Zacks Investment Research upgraded shares of Community Bank System from a “hold” rating to a “strong-buy” rating and set a $63.00 price objective on the stock in a research note on Tuesday, December 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $54.00 price objective on shares of Community Bank System in a research note on Friday, October 13th. Sandler O’Neill upgraded shares of Community Bank System from a “sell” rating to a “hold” rating in a research note on Thursday, December 21st. Finally, DA Davidson set a $55.00 price objective on shares of Community Bank System and gave the stock a “hold” rating in a research note on Tuesday, October 24th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $55.80.

Community Bank System, Inc. (CBU) opened at $53.75 on Monday. The firm has a market cap of $2,720.23, a PE ratio of 24.54, a PEG ratio of 2.02 and a beta of 1.07. Community Bank System, Inc. has a 52 week low of $48.89 and a 52 week high of $63.04. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.72 and a current ratio of 0.72.

Community Bank System (NYSE:CBU) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.06. The company had revenue of $137.30 million for the quarter, compared to analyst estimates of $138.74 million. Community Bank System had a net margin of 21.00% and a return on equity of 9.22%. Community Bank System’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. research analysts predict that Community Bank System, Inc. will post 2.66 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, December 14th. Community Bank System’s payout ratio is 62.10%.

In related news, Director R Kallet Michael sold 7,500 shares of Community Bank System stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $56.38, for a total transaction of $422,850.00. Following the completion of the sale, the director now owns 4,103 shares of the company’s stock, valued at approximately $231,327.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas A. Dicerbo sold 2,000 shares of Community Bank System stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $56.00, for a total transaction of $112,000.00. Following the sale, the director now directly owns 184,622 shares of the company’s stock, valued at approximately $10,338,832. The disclosure for this sale can be found here. Insiders have sold a total of 15,440 shares of company stock valued at $862,488 in the last ninety days. 3.20% of the stock is currently owned by insiders.

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Community Bank System 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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Institutional Ownership by Quarter for Community Bank System (NYSE:CBU)

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