Harbor Advisors LLC Invests $211,000 in Community Bank System, Inc. (NYSE:CBU)

Harbor Advisors LLC bought a new position in shares of Community Bank System, Inc. (NYSE:CBU) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 4,058 shares of the bank’s stock, valued at approximately $211,000.

Other hedge funds also recently made changes to their positions in the company. Strs Ohio raised its stake in shares of Community Bank System by 900.0% during the 4th quarter. Strs Ohio now owns 1,000 shares of the bank’s stock worth $52,000 after purchasing an additional 900 shares during the period. Operose Advisors LLC bought a new stake in Community Bank System in the 3rd quarter valued at about $166,000. Invesco LLC bought a new stake in Community Bank System in the 4th quarter valued at about $181,000. AlphaMark Advisors LLC bought a new stake in Community Bank System in the 3rd quarter valued at about $214,000. Finally, Lipe & Dalton bought a new stake in Community Bank System in the 4th quarter valued at about $225,000. 73.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Community Bank System news, CEO Dimitar Karaivanov purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was bought at an average price of $43.70 per share, with a total value of $43,700.00. Following the completion of the purchase, the chief executive officer now directly owns 16,265 shares of the company’s stock, valued at approximately $710,780.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Sally A. Steele sold 3,501 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $48.76, for a total transaction of $170,708.76. Following the completion of the transaction, the director now directly owns 33,634 shares in the company, valued at $1,639,993.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dimitar Karaivanov purchased 1,000 shares of Community Bank System stock in a transaction dated Wednesday, February 14th. The shares were bought at an average price of $43.70 per share, with a total value of $43,700.00. Following the completion of the acquisition, the chief executive officer now directly owns 16,265 shares of the company’s stock, valued at $710,780.50. The disclosure for this purchase can be found here. 1.78% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CBU. StockNews.com upgraded Community Bank System to a “sell” rating in a research note on Friday, January 19th. DA Davidson reaffirmed a “neutral” rating and set a $50.00 target price on shares of Community Bank System in a report on Thursday, March 14th. Finally, Raymond James lifted their target price on Community Bank System from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Community Bank System has a consensus rating of “Hold” and a consensus price target of $47.67.

Community Bank System Price Performance

Shares of NYSE CBU traded up $0.12 during midday trading on Tuesday, hitting $44.57. 286,117 shares of the company’s stock were exchanged, compared to its average volume of 294,726. Community Bank System, Inc. has a 12-month low of $35.38 and a 12-month high of $55.64. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 17.59 and a beta of 0.66. The business’s fifty day moving average price is $45.18 and its two-hundred day moving average price is $45.87.

Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.76 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.08). The business had revenue of $177.00 million for the quarter, compared to analysts’ expectations of $175.25 million. Community Bank System had a return on equity of 9.15% and a net margin of 13.78%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 EPS. As a group, research analysts forecast that Community Bank System, Inc. will post 3.24 EPS for the current fiscal year.

Community Bank System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, March 14th. Community Bank System’s payout ratio is 71.15%.

Community Bank System Profile

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.