Citigroup Inc. Has $5.62 Million Stock Holdings in Community Bank System, Inc. (NYSE:CBU)

Citigroup Inc. boosted its position in shares of Community Bank System, Inc. (NYSE:CBU) by 9.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,742 shares of the bank’s stock after acquiring an additional 8,356 shares during the period. Citigroup Inc. owned approximately 0.18% of Community Bank System worth $5,618,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in Community Bank System in the second quarter valued at $76,000. KBC Group NV grew its holdings in Community Bank System by 23.6% during the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank’s stock worth $105,000 after acquiring an additional 347 shares during the period. Benjamin Edwards Inc. boosted its holdings in Community Bank System by 27.5% during the second quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank’s stock worth $162,000 after buying an additional 741 shares during the last quarter. IFG Advisory LLC acquired a new stake in Community Bank System in the second quarter worth $212,000. Finally, QRG Capital Management Inc. raised its position in shares of Community Bank System by 4.5% during the second quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank’s stock worth $231,000 after purchasing an additional 212 shares during the period. Institutional investors own 73.79% of the company’s stock.

Wall Street Analyst Weigh In

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

Community Bank System Price Performance

Shares of CBU opened at $69.23 on Monday. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 21.57 and a beta of 0.62. The business has a 50-day moving average of $62.82 and a 200-day moving average of $56.46. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.76 and a quick ratio of 0.76. Community Bank System, Inc. has a 1 year low of $41.50 and a 1 year high of $73.39.

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

Community Bank System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.66%. Community Bank System’s dividend payout ratio is presently 57.32%.

Insider Activity at Community Bank System

In other news, Director John F. Whipple sold 3,937 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.10, for a total transaction of $287,794.70. Following the completion of the sale, the director now directly owns 5,823 shares of the company’s stock, valued at $425,661.30. This trade represents a 40.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.89% of the stock is owned by insiders.

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.