Municipal Employees Retirement System of Michigan Grows Stock Position in Community Bank System, Inc. (NYSE:CBU)

Municipal Employees Retirement System of Michigan boosted its stake in Community Bank System, Inc. (NYSE:CBU) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,350 shares of the bank’s stock after acquiring an additional 260 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Community Bank System were worth $1,011,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its holdings in Community Bank System by 81.4% in the 1st quarter. Toronto Dominion Bank now owns 987 shares of the bank’s stock worth $59,000 after acquiring an additional 443 shares during the period. Diversified Trust Co acquired a new position in shares of Community Bank System in the 2nd quarter valued at approximately $221,000. Bank of Montreal Can raised its position in shares of Community Bank System by 24.0% in the 1st quarter. Bank of Montreal Can now owns 5,294 shares of the bank’s stock valued at $317,000 after purchasing an additional 1,026 shares in the last quarter. Strs Ohio raised its position in shares of Community Bank System by 22.2% in the 2nd quarter. Strs Ohio now owns 5,500 shares of the bank’s stock valued at $362,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Advisors Preferred LLC acquired a new position in shares of Community Bank System in the 1st quarter valued at approximately $403,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Shares of CBU opened at $60.77 on Thursday. The firm has a 50 day simple moving average of $64.32. Community Bank System, Inc. has a 52-week low of $54.46 and a 52-week high of $67.79. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 2.37 and a beta of 0.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.75 and a current ratio of 0.82.



Community Bank System (NYSE:CBU) last announced its earnings results on Monday, July 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.80. Community Bank System had a return on equity of 10.10% and a net margin of 28.64%. The company had revenue of $149.00 million for the quarter, compared to analyst estimates of $144.08 million. During the same period in the prior year, the company posted $0.86 EPS. Community Bank System’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts anticipate that Community Bank System, Inc. will post 3.24 earnings per share for the current year.

CBU has been the topic of a number of recent analyst reports. Zacks Investment Research raised Community Bank System from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine lowered Community Bank System from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

In related news, Director Brian R. Ace sold 4,471 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $65.78, for a total transaction of $294,102.38. Following the sale, the director now directly owns 61,910 shares of the company’s stock, valued at approximately $4,072,439.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director R Kallet Michael sold 3,100 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $64.83, for a total value of $200,973.00. Following the sale, the director now directly owns 52,909 shares in the company, valued at $3,430,090.47. The disclosure for this sale can be found here. Corporate insiders own 2.15% of the company’s stock.

About Community Bank System

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, 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.

Further Reading: Return on Equity (ROE)

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

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