State of Alaska Department of Revenue Acquires 22,247 Shares of Community Bank System, Inc. (NYSE:CBU)

State of Alaska Department of Revenue lifted its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 126.8% during the 3rd quarter, Holdings Channel reports. The firm owned 39,789 shares of the bank’s stock after purchasing an additional 22,247 shares during the period. State of Alaska Department of Revenue’s holdings in Community Bank System were worth $2,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Municipal Employees Retirement System of Michigan increased its stake in Community Bank System by 1.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 15,350 shares of the bank’s stock valued at $1,011,000 after acquiring an additional 260 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in Community Bank System by 4.6% in the second quarter. Crossmark Global Holdings Inc. now owns 7,307 shares of the bank’s stock valued at $481,000 after acquiring an additional 322 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Community Bank System by 2.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,224 shares of the bank’s stock valued at $1,332,000 after acquiring an additional 400 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Community Bank System by 2.6% in the second quarter. Janney Montgomery Scott LLC now owns 22,785 shares of the bank’s stock valued at $1,500,000 after acquiring an additional 577 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in Community Bank System by 2.4% in the second quarter. HighTower Advisors LLC now owns 25,837 shares of the bank’s stock valued at $1,705,000 after acquiring an additional 614 shares during the last quarter. 71.32% of the stock is currently owned by institutional investors.

Community Bank System stock traded up $0.35 during mid-day trading on Wednesday, reaching $60.44. The company had a trading volume of 10,890 shares, compared to its average volume of 193,777. Community Bank System, Inc. has a fifty-two week low of $54.46 and a fifty-two week high of $67.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. The company has a market cap of $3.16 billion, a P/E ratio of 17.93 and a beta of 1.01. The business has a fifty day simple moving average of $61.97 and a 200 day simple moving average of $63.24.

Community Bank System (NYSE:CBU) last issued its earnings results on Monday, July 22nd. The bank reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Community Bank System had a net margin of 28.64% and a return on equity of 10.10%. The firm had revenue of $149.00 million for the quarter, compared to analyst estimates of $144.08 million. During the same quarter last year, the business posted $0.86 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Research analysts forecast that Community Bank System, Inc. will post 3.24 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be given a $0.41 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.64 dividend on an annualized basis and a yield of 2.71%. This is a positive change from Community Bank System’s previous quarterly dividend of $0.38. Community Bank System’s dividend payout ratio (DPR) is currently 48.66%.

A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Community Bank System from a “hold” rating to a “sell” rating in a research note on Monday. ValuEngine lowered shares of Community Bank System from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

Community Bank System Company 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, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.

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

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