Northern Trust Corp trimmed its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 18.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,036,704 shares of the bank’s stock after selling 229,949 shares during the period. Northern Trust Corp’s holdings in Community Bank System were worth $60,440,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Toronto Dominion Bank bought a new position in shares of Community Bank System during the fourth quarter worth about $32,000. LS Investment Advisors LLC grew its position in shares of Community Bank System by 86.6% during the fourth quarter. LS Investment Advisors LLC now owns 2,640 shares of the bank’s stock worth $154,000 after acquiring an additional 1,225 shares during the last quarter. US Bancorp DE grew its position in shares of Community Bank System by 67.5% during the third quarter. US Bancorp DE now owns 3,225 shares of the bank’s stock worth $197,000 after acquiring an additional 1,300 shares during the last quarter. Bank of Montreal Can grew its position in shares of Community Bank System by 9.2% during the fourth quarter. Bank of Montreal Can now owns 4,268 shares of the bank’s stock worth $249,000 after acquiring an additional 358 shares during the last quarter. Finally, Wakefield Asset Management LLLP bought a new position in shares of Community Bank System during the third quarter worth about $256,000. 70.71% of the stock is currently owned by institutional investors.
In other news, CEO Mark E. Tryniski sold 11,369 shares of the firm’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $62.11, for a total transaction of $706,128.59. Following the completion of the transaction, the chief executive officer now owns 119,497 shares in the company, valued at approximately $7,421,958.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.34% of the company’s stock.
Community Bank System (NYSE:CBU) last released its quarterly earnings results on Wednesday, January 23rd. The bank reported $0.78 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.02). The firm had revenue of $141.61 million for the quarter, compared to the consensus estimate of $142.54 million. Community Bank System had a return on equity of 10.55% and a net margin of 28.74%. During the same quarter in the prior year, the company posted $0.64 EPS. Equities research analysts predict that Community Bank System, Inc. will post 3.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.44%. Community Bank System’s dividend payout ratio (DPR) is 45.10%.
Several equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Community Bank System from a “buy” rating to a “hold” rating in a research report on Monday, November 19th. ValuEngine lowered shares of Community Bank System from a “buy” rating to a “hold” rating in a research report on Wednesday, December 5th. Finally, Boenning Scattergood restated a “hold” rating on shares of Community Bank System in a research report on Wednesday, January 23rd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $60.00.
Community Bank System Profile
Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and 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.
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