Fulton Bank N.A. Grows Position in Community Bank System, Inc. (NYSE:CBU)

Fulton Bank N.A. grew its stake in Community Bank System, Inc. (NYSE:CBU) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,078 shares of the bank’s stock after buying an additional 702 shares during the quarter. Fulton Bank N.A.’s holdings in Community Bank System were worth $469,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new stake in Community Bank System in the 2nd quarter worth approximately $76,000. Algert Global LLC bought a new position in shares of Community Bank System in the second quarter worth approximately $642,000. The Manufacturers Life Insurance Company increased its stake in shares of Community Bank System by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 29,088 shares of the bank’s stock worth $1,373,000 after purchasing an additional 484 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Community Bank System during the 2nd quarter valued at $231,000. Finally, Cubist Systematic Strategies LLC raised its position in shares of Community Bank System by 47.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,645 shares of the bank’s stock valued at $3,146,000 after purchasing an additional 21,596 shares during the period. Institutional investors own 73.79% of the company’s stock.

Community Bank System Stock Performance

CBU opened at $56.91 on Wednesday. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 17.89 and a beta of 0.64. Community Bank System, Inc. has a fifty-two week low of $35.38 and a fifty-two week high of $63.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.76 and a current ratio of 0.76. The company has a fifty day moving average of $58.49 and a 200 day moving average of $51.35.

Community Bank System (NYSE:CBU) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.14. The firm had revenue of $183.80 million for the quarter, compared to analysts’ expectations of $180.05 million. Community Bank System had a return on equity of 8.94% and a net margin of 15.90%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, sell-side analysts forecast that Community Bank System, Inc. will post 3.42 earnings per share for the current fiscal year.

Community Bank System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 13th will be paid a $0.46 dividend. This is an increase from Community Bank System’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.84 dividend on an annualized basis and a yield of 3.23%. Community Bank System’s payout ratio is presently 57.86%.

Wall Street Analyst Weigh In

CBU has been the subject of a number of analyst reports. Raymond James lowered Community Bank System from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $59.00 price objective on shares of Community Bank System in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $50.50.

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, 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.