JPMorgan Chase & Co. Reduces Stake in Community Bank System, Inc. (CBU)

JPMorgan Chase & Co. lessened its position in Community Bank System, Inc. (NYSE:CBU) by 25.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 280,908 shares of the bank’s stock after selling 95,847 shares during the period. JPMorgan Chase & Co.’s holdings in Community Bank System were worth $17,155,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Destination Wealth Management bought a new stake in shares of Community Bank System in the 3rd quarter worth $122,000. US Bancorp DE grew its holdings in shares of Community Bank System by 67.5% in the 3rd 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. Alpha Omega Wealth Management LLC acquired a new position in shares of Community Bank System in the 3rd quarter worth $212,000. Baird Financial Group Inc. acquired a new position in shares of Community Bank System in the 3rd quarter worth $307,000. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Community Bank System by 59.9% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,145 shares of the bank’s stock worth $620,000 after acquiring an additional 3,800 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors.

In other news, Director R Kallet Michael sold 1,700 shares of Community Bank System stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $60.80, for a total transaction of $103,360.00. Following the transaction, the director now owns 1,300 shares in the company, valued at $79,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark E. Tryniski sold 11,369 shares of Community Bank System stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $62.11, for a total value of $706,128.59. Following the transaction, the chief executive officer now owns 119,497 shares in the company, valued at approximately $7,421,958.67. The disclosure for this sale can be found here. Insiders own 2.34% of the company’s stock.

Shares of NYSE CBU opened at $62.27 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.74 and a current ratio of 0.76. The firm has a market capitalization of $3.15 billion, a P/E ratio of 18.48, a P/E/G ratio of 2.39 and a beta of 0.91. Community Bank System, Inc. has a 52-week low of $51.68 and a 52-week high of $67.07.

Community Bank System (NYSE:CBU) last issued its earnings results on Wednesday, January 23rd. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.02). The company had revenue of $141.61 million during the quarter, compared to analyst estimates of $142.54 million. Community Bank System had a return on equity of 10.54% and a net margin of 28.74%. During the same quarter in the previous year, the firm earned $0.64 earnings per share. As a group, research analysts expect that Community Bank System, Inc. will post 3.22 EPS for the current fiscal year.

A number of equities analysts recently issued reports on CBU shares. Boenning Scattergood restated a “hold” rating on shares of Community Bank System in a report on Monday, October 22nd. Zacks Investment Research upgraded Community Bank System from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Wednesday, October 24th. Finally, ValuEngine upgraded Community Bank System from a “hold” rating to a “buy” rating in a report on Saturday, November 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $60.00.

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Community Bank System Company 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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Institutional Ownership by Quarter for Community Bank System (NYSE:CBU)

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