Algert Global LLC Grows Stake in Community Bank System, Inc. (NYSE:CBU)

Algert Global LLC increased its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 371.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,193 shares of the bank’s stock after purchasing an additional 50,590 shares during the quarter. Algert Global LLC owned approximately 0.12% of Community Bank System worth $3,728,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new position in shares of Community Bank System in the 2nd quarter valued at $76,000. KBC Group NV boosted its stake in Community Bank System by 23.6% in the third quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after acquiring an additional 347 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Community Bank System by 27.5% during the second quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank’s stock worth $162,000 after purchasing an additional 741 shares during the last quarter. IFG Advisory LLC acquired a new stake in shares of Community Bank System during the second quarter worth about $212,000. Finally, QRG Capital Management Inc. increased its position in shares of Community Bank System by 4.5% during the second quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank’s stock worth $231,000 after purchasing an additional 212 shares in the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on CBU shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $59.00 price target on shares of Community Bank System in a research report on Tuesday, September 10th. Raymond James raised shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective on the stock in a research report on Monday, October 28th.

Community Bank System Price Performance

Community Bank System stock opened at $71.50 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.76 and a quick ratio of 0.76. The business has a 50 day simple moving average of $61.67 and a 200-day simple moving average of $55.67. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month high of $73.39. The stock has a market capitalization of $3.76 billion, a PE ratio of 22.62 and a beta of 0.62.

Community Bank System (NYSE:CBU) last announced 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 for the quarter, compared to analysts’ expectations of $186.35 million. Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. Equities analysts predict that Community Bank System, Inc. will post 3.38 earnings per share for the current year.

Community Bank System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Friday, December 13th. Community Bank System’s dividend payout ratio is presently 57.32%.

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, 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.