Federated Hermes Inc. Has $32.66 Million Holdings in Community Bank System, Inc. (NYSE:CBU)

Federated Hermes Inc. raised its position in Community Bank System, Inc. (NYSE:CBU) by 6.8% in the second quarter, HoldingsChannel reports. The fund owned 691,879 shares of the bank’s stock after purchasing an additional 44,137 shares during the quarter. Federated Hermes Inc.’s holdings in Community Bank System were worth $32,664,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Community Bank System in the first quarter valued at approximately $592,000. Trexquant Investment LP grew its stake in Community Bank System by 466.5% in the fourth quarter. Trexquant Investment LP now owns 31,816 shares of the bank’s stock valued at $1,658,000 after acquiring an additional 26,200 shares during the period. Assenagon Asset Management S.A. grew its stake in Community Bank System by 152.9% in the second quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank’s stock valued at $8,611,000 after acquiring an additional 110,288 shares during the period. SG Americas Securities LLC acquired a new stake in Community Bank System in the first quarter valued at approximately $583,000. Finally, Boston Partners acquired a new stake in Community Bank System in the first quarter valued at approximately $3,558,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on CBU shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $59.00 target price on shares of Community Bank System in a research report on Tuesday, September 10th. Raymond James cut Community Bank System from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.50.

Community Bank System Stock Performance

Shares of Community Bank System stock opened at $57.59 on Friday. The business’s fifty day simple moving average is $58.02 and its 200 day simple moving average is $49.82. The firm has a market capitalization of $3.03 billion, a P/E ratio of 18.11 and a beta of 0.64. Community Bank System, Inc. has a 12 month low of $35.38 and a 12 month high of $63.95. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43.

Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.14. The business had revenue of $183.80 million for the quarter, compared to analyst estimates of $180.05 million. Community Bank System had a return on equity of 8.94% and a net margin of 15.90%. Community Bank System’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. As a group, analysts anticipate that Community Bank System, Inc. will post 3.42 EPS for the current year.

Community Bank System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 13th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Friday, September 13th. This is a positive change from Community Bank System’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a dividend yield of 3.19%. Community Bank System’s payout ratio is presently 56.60%.

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.