KBC Group NV Purchases 347 Shares of Community Bank System, Inc. (NYSE:CBU)

KBC Group NV grew its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 23.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,816 shares of the bank’s stock after buying an additional 347 shares during the period. KBC Group NV’s holdings in Community Bank System were worth $105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake 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 valued at $83,588,000 after buying an additional 142,909 shares during the period. Victory Capital Management Inc. raised its stake in Community Bank System by 164.9% in the second quarter. Victory Capital Management Inc. now owns 213,167 shares of the bank’s stock valued at $10,064,000 after purchasing an additional 132,697 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Community Bank System by 152.9% during the second quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank’s stock valued at $8,611,000 after purchasing an additional 110,288 shares during the last quarter. Boston Partners bought a new stake in Community Bank System during the first quarter valued at approximately $3,558,000. Finally, Waterford Advisors LLC purchased a new position in Community Bank System in the 1st quarter worth approximately $2,155,000. Institutional investors own 73.79% of the company’s stock.

Community Bank System Trading Up 1.6 %

Shares of CBU opened at $68.91 on Friday. Community Bank System, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $72.29. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 21.47 and a beta of 0.62. The firm has a 50 day moving average price of $61.16 and a 200-day moving average price of $55.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 0.76.

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

Community Bank System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be paid a $0.46 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a yield of 2.67%. Community Bank System’s dividend payout ratio (DPR) is currently 57.32%.

Wall Street Analyst Weigh In

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

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.