Community Bank System (NYSE:CBU) Reaches New 12-Month High at $71.62

Community Bank System, Inc. (NYSE:CBU)’s stock price hit a new 52-week high on Thursday . The company traded as high as $71.62 and last traded at $71.41, with a volume of 4987 shares trading hands. The stock had previously closed at $70.71.

Separately, Zacks Investment Research upgraded Community Bank System from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd.

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 21.22 and a beta of 1.01. The business has a 50 day simple moving average of $69.70 and a 200 day simple moving average of $65.55.

Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $148.40 million for the quarter, compared to analyst estimates of $150.53 million. Community Bank System had a return on equity of 9.86% and a net margin of 27.57%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 earnings per share. As a group, sell-side analysts anticipate that Community Bank System, Inc. will post 3.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 13th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, December 12th. Community Bank System’s dividend payout ratio is currently 48.66%.

In other Community Bank System news, Director R Kallet Michael sold 1,500 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $69.23, for a total value of $103,845.00. Following the completion of the sale, the director now directly owns 49,909 shares in the company, valued at $3,455,200.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph F. Serbun sold 7,342 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $68.59, for a total value of $503,587.78. Following the completion of the sale, the executive vice president now owns 14,599 shares of the company’s stock, valued at $1,001,345.41. The disclosure for this sale can be found here. In the last three months, insiders sold 13,342 shares of company stock worth $911,723. Insiders own 2.15% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Community Bank System by 1.1% in the second quarter. BlackRock Inc. now owns 7,622,990 shares of the bank’s stock worth $501,897,000 after acquiring an additional 81,588 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Community Bank System by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,138,913 shares of the bank’s stock valued at $404,186,000 after purchasing an additional 20,199 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Community Bank System by 0.6% in the 2nd quarter. Macquarie Group Ltd. now owns 877,425 shares of the bank’s stock valued at $57,770,000 after purchasing an additional 5,449 shares during the period. Morgan Stanley lifted its stake in shares of Community Bank System by 120.7% in the 2nd quarter. Morgan Stanley now owns 326,024 shares of the bank’s stock valued at $21,465,000 after purchasing an additional 178,280 shares during the period. Finally, Nuveen Asset Management LLC acquired a new position in shares of Community Bank System in the 2nd quarter valued at about $13,606,000. Institutional investors own 71.00% of the company’s stock.

About Community Bank System (NYSE:CBU)

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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