Profund Advisors LLC Increases Stock Holdings in Community Bank System, Inc. (NYSE:CBU)

Profund Advisors LLC raised its position in Community Bank System, Inc. (NYSE:CBU) by 15.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,059 shares of the bank’s stock after purchasing an additional 694 shares during the period. Profund Advisors LLC’s holdings in Community Bank System were worth $239,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. lifted its holdings in Community Bank System by 27.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank’s stock valued at $162,000 after purchasing an additional 741 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Community Bank System by 41.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 9,935 shares of the bank’s stock valued at $469,000 after purchasing an additional 2,912 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Community Bank System by 17.6% in the 2nd quarter. Renaissance Technologies LLC now owns 80,008 shares of the bank’s stock valued at $3,777,000 after purchasing an additional 12,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Community Bank System by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,770,648 shares of the bank’s stock valued at $83,588,000 after purchasing an additional 142,909 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Community Bank System by 16.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 55,679 shares of the bank’s stock valued at $2,629,000 after purchasing an additional 8,027 shares in the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Community Bank System Stock Up 0.1 %

NYSE CBU opened at $57.20 on Friday. Community Bank System, Inc. has a 52 week low of $35.38 and a 52 week high of $63.95. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $59.04 and its 200-day simple moving average is $50.67. The firm has a market cap of $3.02 billion, a PE ratio of 17.99 and a beta of 0.64.

Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.95 EPS for the quarter, topping the consensus estimate 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%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. As a group, equities analysts anticipate that Community Bank System, Inc. will post 3.42 earnings per share for the current year.

Community Bank System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 13th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.22%. This is an increase from Community Bank System’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, September 13th. Community Bank System’s dividend payout ratio (DPR) is presently 57.86%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Raymond James lowered Community Bank System from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $59.00 price target on shares of Community Bank System in a report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.50.

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.