Minerva Advisors LLC held its stake in shares of Community Bank System, Inc. (NYSE:CBU) during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,799 shares of the company’s stock at the end of the fourth quarter. Minerva Advisors LLC’s holdings in Community Bank System were worth $1,038,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the company. BlackRock Fund Advisors increased its stake in shares of Community Bank System by 8.4% in the third quarter. BlackRock Fund Advisors now owns 3,039,914 shares of the company’s stock valued at $146,250,000 after buying an additional 235,459 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Community Bank System by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 617,619 shares of the company’s stock worth $29,714,000 after buying an additional 12,736 shares during the period. BlackRock Group LTD boosted its stake in Community Bank System by 4.0% in the third quarter. BlackRock Group LTD now owns 64,159 shares of the company’s stock worth $3,087,000 after buying an additional 2,456 shares during the period. Wells Fargo & Company MN boosted its stake in Community Bank System by 18.3% in the third quarter. Wells Fargo & Company MN now owns 42,398 shares of the company’s stock worth $2,040,000 after buying an additional 6,563 shares during the period. Finally, BlackRock Advisors LLC boosted its stake in Community Bank System by 8.1% in the third quarter. BlackRock Advisors LLC now owns 22,499 shares of the company’s stock worth $1,082,000 after buying an additional 1,686 shares during the period. 66.05% of the stock is currently owned by institutional investors.
Shares of Community Bank System, Inc. (NYSE:CBU) traded up 0.03% on Friday, reaching $58.80. 194,491 shares of the company were exchanged. Community Bank System, Inc. has a 52-week low of $35.65 and a 52-week high of $63.04. The company has a market capitalization of $2.61 billion, a P/E ratio of 25.34 and a beta of 1.05. The stock has a 50 day moving average of $59.74 and a 200-day moving average of $51.98.
Community Bank System (NYSE:CBU) last announced its earnings results on Monday, January 23rd. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Community Bank System had a net margin of 23.53% and a return on equity of 8.60%. The business earned $109.20 million during the quarter, compared to analysts’ expectations of $108.41 million. During the same period in the prior year, the company earned $0.47 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year. On average, analysts predict that Community Bank System, Inc. will post $2.47 EPS for the current fiscal year.
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A number of equities research analysts have recently commented on CBU shares. Zacks Investment Research upgraded Community Bank System from a “sell” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Thursday, October 27th. Hovde Group raised their price target on shares of Community Bank System from $43.00 to $49.00 and gave the company a “market perform” rating in a research note on Tuesday, October 25th. Finally, Sandler O’Neill lowered shares of Community Bank System from a “hold” rating to a “sell” rating in a research note on Thursday, January 12th.
In other news, CFO Scott Allen Kingsley sold 5,435 shares of the company’s stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $61.76, for a total value of $335,665.60. Following the completion of the sale, the chief financial officer now directly owns 41,152 shares of the company’s stock, valued at $2,541,547.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward S. Mucenski sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $54.85, for a total transaction of $164,550.00. Following the completion of the sale, the director now directly owns 5,272 shares of the company’s stock, valued at $289,169.20. The disclosure for this sale can be found here. Insiders sold 30,949 shares of company stock valued at $1,855,352 over the last ninety days. Corporate insiders own 3.48% of the company’s stock.
Community Bank System Company Profile
Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.
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