Trading Report: The Public Employees Retirement Association of Colorado Raises it position for Community Bank System Inc. (CBU)

The Public Employees Retirement Association of Colorado Raises it position for Community Bank System Inc. (CBU)

Public Employees Retirement Association of Colorado boosted its position in Community Bank System Inc. (NYSE:CBU) by 90.6% during the second quarter, Holdings Channel reports. The institutional investor owned 423,867 shares of the company’s stock after buying an additional 201,500 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Community Bank System were worth $17,417,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Community Bank System by 141.7% in the first quarter. BlackRock Inc. now owns 3,057 shares of the company’s stock worth $117,000 after buying an additional 1,792 shares in the last quarter. C M Bidwell & Associates Ltd. boosted its position in Community Bank System by 1.0% in the first quarter. C M Bidwell & Associates Ltd. now owns 4,515 shares of the company’s stock worth $173,000 after buying an additional 45 shares in the last quarter. Bank of Montreal Can purchased a new position in Community Bank System during the second quarter worth approximately $178,000. Schonfeld Strategic Advisors LLC purchased a new position in Community Bank System during the first quarter worth approximately $346,000. Finally, Capstone Asset Management Co. boosted its position in Community Bank System by 5.3% in the second quarter. Capstone Asset Management Co. now owns 13,310 shares of the company’s stock worth $547,000 after buying an additional 670 shares in the last quarter. 64.39% of the stock is owned by hedge funds and other institutional investors.

Shares of Community Bank System Inc. (NYSE:CBU) traded down 0.279% during midday trading on Wednesday, reaching $48.205. 80,086 shares of the company were exchanged. The firm has a 50-day moving average of $47.33 and a 200 day moving average of $42.59. The firm has a market capitalization of $2.13 billion, a P/E ratio of 21.891 and a beta of 0.95. Community Bank System Inc. has a 52 week low of $34.27 and a 52 week high of $48.85.

Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. The company earned $107.10 million during the quarter, compared to analysts’ expectations of $106.66 million. Community Bank System had a net margin of 22.93% and a return on equity of 8.64%. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. On average, equities research analysts expect that Community Bank System Inc. will post $2.31 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 10th. Stockholders of record on Thursday, September 15th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.65%. This is a boost from Community Bank System’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, September 13th. Community Bank System’s dividend payout ratio is 58.18%.

A number of research firms recently commented on CBU. Zacks Investment Research raised shares of Community Bank System from a “sell” rating to a “hold” rating in a research note on Monday, June 27th. Sandler O’Neill cut shares of Community Bank System from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Finally, Hovde Group lifted their price objective on shares of Community Bank System from $38.00 to $43.00 and gave the company a “market perform” rating in a report on Tuesday, July 26th. Five research analysts have rated the stock with a hold rating, Community Bank System presently has an average rating of “Hold” and a consensus target price of $41.50.

In other news, Director Nicholas A. Dicerbo sold 2,000 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $43.75, for a total value of $87,500.00. Following the completion of the sale, the director now directly owns 200,921 shares in the company, valued at $8,790,293.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian R. Ace sold 3,817 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $43.40, for a total transaction of $165,657.80. Following the completion of the sale, the director now owns 50,275 shares of the company’s stock, valued at $2,181,935. The disclosure for this sale can be found here. 3.48% of the stock is currently owned by insiders.

Community Bank System Company 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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