Quest Partners LLC Buys Shares of 26,712 Community Bank System, Inc. (NYSE:CBU)

Quest Partners LLC purchased a new position in shares of Community Bank System, Inc. (NYSE:CBU) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 26,712 shares of the bank’s stock, valued at approximately $1,551,000. Quest Partners LLC owned about 0.05% of Community Bank System as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CBU. Dimensional Fund Advisors LP increased its position in Community Bank System by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,770,648 shares of the bank’s stock worth $83,588,000 after buying an additional 142,909 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Community Bank System by 164.9% during the 2nd quarter. Victory Capital Management Inc. now owns 213,167 shares of the bank’s stock valued at $10,064,000 after acquiring an additional 132,697 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Community Bank System by 152.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank’s stock valued at $8,611,000 after acquiring an additional 110,288 shares in the last quarter. Boston Partners acquired a new stake in Community Bank System in the 1st quarter worth approximately $3,558,000. Finally, Waterford Advisors LLC bought a new stake in Community Bank System during the first quarter worth approximately $2,155,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Bank System Stock Up 0.3 %

Shares of CBU stock opened at $68.26 on Wednesday. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month high of $72.29. 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 firm has a market cap of $3.59 billion, a PE ratio of 21.26 and a beta of 0.62. The stock has a 50 day moving average of $60.93 and a 200-day moving average of $55.20.

Community Bank System (NYSE:CBU) last released its earnings results on Tuesday, October 22nd. The bank reported $0.83 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.05). The company had revenue of $188.94 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.82 earnings per share. On average, equities analysts predict that Community Bank System, Inc. will post 3.38 EPS for the current year.

Community Bank System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, December 13th. Community Bank System’s dividend payout ratio (DPR) is presently 57.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Raymond James raised shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a research report on Monday, October 28th. Keefe, Bruyette & Woods reissued 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 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.