Community Bank System, Inc. (CBU) Position Reduced by Neuberger Berman Group LLC

Neuberger Berman Group LLC reduced its position in shares of Community Bank System, Inc. (NYSE:CBU) by 2.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,289,369 shares of the bank’s stock after selling 65,925 shares during the quarter. Neuberger Berman Group LLC owned approximately 4.52% of Community Bank System worth $126,488,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of CBU. Bank of Montreal Can increased its position in Community Bank System by 1.2% during the 2nd quarter. Bank of Montreal Can now owns 4,231 shares of the bank’s stock valued at $237,000 after purchasing an additional 49 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its position in Community Bank System by 0.6% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 16,220 shares of the bank’s stock valued at $905,000 after purchasing an additional 100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Community Bank System by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the bank’s stock valued at $116,000 after purchasing an additional 174 shares during the period. Profund Advisors LLC increased its position in Community Bank System by 2.5% during the 2nd quarter. Profund Advisors LLC now owns 8,694 shares of the bank’s stock valued at $485,000 after purchasing an additional 212 shares during the period. Finally, Franklin Resources Inc. increased its position in Community Bank System by 8.9% during the 2nd quarter. Franklin Resources Inc. now owns 4,354 shares of the bank’s stock valued at $243,000 after purchasing an additional 354 shares during the period. Institutional investors own 69.21% of the company’s stock.

CBU has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Community Bank System from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Wednesday, October 25th. DA Davidson set a $55.00 price objective on shares of Community Bank System and gave the company a “hold” rating in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $54.00 price objective on shares of Community Bank System in a research report on Friday, October 13th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Community Bank System presently has a consensus rating of “Hold” and an average target price of $55.20.

Shares of Community Bank System, Inc. (NYSE CBU) opened at $52.26 on Friday. The firm has a market cap of $2,713.66, a PE ratio of 19.79, a PEG ratio of 2.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.72 and a quick ratio of 0.72. Community Bank System, Inc. has a 1 year low of $48.89 and a 1 year high of $63.04.

Community Bank System (NYSE:CBU) last released its earnings results on Monday, October 23rd. The bank reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.06. The firm had revenue of $137.30 million for the quarter, compared to the consensus estimate of $138.74 million. Community Bank System had a net margin of 21.00% and a return on equity of 9.22%. The company’s revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 EPS. research analysts anticipate that Community Bank System, Inc. will post 2.61 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 15th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, December 14th. Community Bank System’s dividend payout ratio is presently 62.10%.

In other news, Director R Kallet Michael sold 7,500 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $56.38, for a total value of $422,850.00. Following the sale, the director now directly owns 4,103 shares of the company’s stock, valued at approximately $231,327.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas A. Dicerbo sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $56.00, for a total transaction of $112,000.00. Following the completion of the sale, the director now directly owns 184,622 shares in the company, valued at $10,338,832. The disclosure for this sale can be found here. Insiders sold a total of 29,957 shares of company stock worth $1,619,931 over the last ninety days. Insiders own 3.20% of the company’s stock.

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

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