Glen Harbor Capital Management LLC Buys 1,156 Shares of Community Bank System, Inc. (CBU)

Glen Harbor Capital Management LLC increased its stake in Community Bank System, Inc. (NYSE:CBU) by 14.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,942 shares of the bank’s stock after buying an additional 1,156 shares during the period. Glen Harbor Capital Management LLC’s holdings in Community Bank System were worth $528,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Strs Ohio grew its stake in shares of Community Bank System by 29.0% in the 2nd quarter. Strs Ohio now owns 4,000 shares of the bank’s stock worth $236,000 after buying an additional 900 shares during the last quarter. Mason Street Advisors LLC lifted its position in Community Bank System by 7.1% in the 1st quarter. Mason Street Advisors LLC now owns 14,091 shares of the bank’s stock valued at $755,000 after acquiring an additional 928 shares in the last quarter. Meadow Creek Investment Management LLC lifted its position in Community Bank System by 14.8% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 7,364 shares of the bank’s stock valued at $435,000 after acquiring an additional 952 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Community Bank System by 60.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,659 shares of the bank’s stock valued at $144,000 after acquiring an additional 999 shares in the last quarter. Finally, Piedmont Investment Advisors LLC lifted its position in Community Bank System by 9.3% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 11,866 shares of the bank’s stock valued at $701,000 after acquiring an additional 1,008 shares in the last quarter. Institutional investors own 70.94% of the company’s stock.

CBU has been the topic of several analyst reports. ValuEngine cut Community Bank System from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research cut Community Bank System from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Boenning Scattergood reaffirmed a “hold” rating on shares of Community Bank System in a research report on Monday, July 23rd. Finally, Hovde Group cut Community Bank System from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $60.60.



CBU stock opened at $64.39 on Friday. The company has a market capitalization of $3.32 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 2.46 and a beta of 1.02. Community Bank System, Inc. has a 12-month low of $50.69 and a 12-month high of $67.07. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.08.

Community Bank System (NYSE:CBU) last released its quarterly earnings data on Monday, July 23rd. The bank reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. The business had revenue of $143.40 million for the quarter, compared to analysts’ expectations of $143.03 million. Community Bank System had a return on equity of 10.03% and a net margin of 33.19%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. analysts forecast that Community Bank System, Inc. will post 3.3 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Friday, September 14th will be given a $0.38 dividend. The ex-dividend date is Thursday, September 13th. This is a boost from Community Bank System’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a yield of 2.36%. Community Bank System’s dividend payout ratio is 48.75%.

In other news, EVP Joseph F. Serbun sold 2,681 shares of the stock in a transaction on Friday, June 29th. The stock was sold at an average price of $59.73, for a total transaction of $160,136.13. Following the transaction, the executive vice president now directly owns 8,309 shares of the company’s stock, valued at approximately $496,296.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John F. Whipple sold 2,566 shares of the stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $66.27, for a total value of $170,048.82. Following the transaction, the director now directly owns 2,835 shares in the company, valued at $187,875.45. The disclosure for this sale can be found here. Insiders have sold a total of 8,940 shares of company stock worth $553,205 over the last three months. Insiders own 2.34% of the company’s stock.

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 financial services to retail, commercial, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.

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

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