Quest Partners LLC Buys New Holdings in Community Bank System, Inc. (NYSE:CBU)

Quest Partners LLC purchased a new position in shares of Community Bank System, Inc. (NYSE:CBU) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 26,712 shares of the bank’s stock, valued at approximately $1,551,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CBU. Louisiana State Employees Retirement System boosted its position in shares of Community Bank System by 0.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the bank’s stock valued at $1,256,000 after acquiring an additional 200 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Community Bank System by 4.5% during the second quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank’s stock valued at $231,000 after purchasing an additional 212 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Community Bank System by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 14,930 shares of the bank’s stock valued at $705,000 after purchasing an additional 258 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Community Bank System by 6.2% in the 2nd quarter. CIBC Asset Management Inc now owns 5,235 shares of the bank’s stock worth $247,000 after buying an additional 307 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Community Bank System by 23.6% during the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank’s stock worth $105,000 after buying an additional 347 shares during the period. Institutional investors own 73.79% of the company’s stock.

Analyst Upgrades and Downgrades

CBU has been the subject of a number of recent analyst reports. Raymond James upgraded shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 target price for the company in a research report on Monday, October 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $59.00 target price on shares of Community Bank System in a research report on Tuesday, September 10th.

Community Bank System Stock Up 0.3 %

Shares of Community Bank System stock opened at $68.26 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.35. The stock has a market cap of $3.59 billion, a PE ratio of 21.26 and a beta of 0.62. The business has a fifty day simple moving average of $60.93 and a 200 day simple moving average of $55.20. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month high of $72.29.

Community Bank System (NYSE:CBU) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.05). The firm had revenue of $188.94 million during the quarter, compared to the consensus estimate of $186.35 million. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. Community Bank System’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. Research analysts predict that Community Bank System, Inc. will post 3.38 EPS for the current year.

Community Bank System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, December 13th. Community Bank System’s dividend payout ratio is 57.32%.

About Community Bank System

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, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.