Community Bank System, Inc. (NYSE:CBU) Sees Significant Growth in Short Interest

Community Bank System, Inc. (NYSE:CBU - Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 2,010,000 shares, a growth of 11.0% from the April 15th total of 1,810,000 shares. Based on an average trading volume of 267,400 shares, the days-to-cover ratio is currently 7.5 days. Currently, 3.8% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com upgraded shares of Community Bank System to a "sell" rating in a report on Friday, January 19th. DA Davidson reiterated a "neutral" rating and set a $50.00 target price on shares of Community Bank System in a research note on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $47.67.

Insider Activity

In related news, Director Mark J. Bolus sold 3,631 shares of Community Bank System stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $45.00, for a total value of $163,395.00. Following the completion of the transaction, the director now directly owns 96,364 shares in the company, valued at $4,336,380. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.89% of the company's stock.

Hedge Funds Weigh In On Community Bank System

Several hedge funds have recently made changes to their positions in the company. Strs Ohio boosted its position in shares of Community Bank System by 900.0% in the 4th quarter. Strs Ohio now owns 1,000 shares of the bank's stock valued at $52,000 after purchasing an additional 900 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Community Bank System by 40.7% in the first quarter. Benjamin Edwards Inc. now owns 2,695 shares of the bank's stock valued at $129,000 after acquiring an additional 780 shares during the period. TFO Wealth Partners LLC boosted its holdings in shares of Community Bank System by 37,162.5% in the fourth quarter. TFO Wealth Partners LLC now owns 2,981 shares of the bank's stock valued at $155,000 after acquiring an additional 2,973 shares during the period. Operose Advisors LLC purchased a new position in shares of Community Bank System during the third quarter worth approximately $166,000. Finally, Invesco LLC acquired a new position in shares of Community Bank System in the 4th quarter valued at $181,000. Hedge funds and other institutional investors own 73.79% of the company's stock.

Community Bank System Stock Up 0.4 %

CBU stock traded up $0.19 during trading on Friday, hitting $48.50. 188,273 shares of the company's stock were exchanged, compared to its average volume of 278,723. The business has a 50-day moving average price of $45.49 and a two-hundred day moving average price of $46.50. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 15.25 and a beta of 0.66. Community Bank System has a 52-week low of $35.38 and a 52-week high of $55.64.

Community Bank System (NYSE:CBU - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.03. The business had revenue of $178.29 million during the quarter, compared to the consensus estimate of $178.97 million. Community Bank System had a net margin of 16.59% and a return on equity of 8.93%. As a group, equities research analysts expect that Community Bank System will post 3.22 EPS for the current year.

Community Bank System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.80 annualized dividend and a yield of 3.71%. Community Bank System's dividend payout ratio is presently 56.60%.

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.