Community Bank System, Inc. (NYSE:CBU) Stake Cut by SG Americas Securities LLC

SG Americas Securities LLC cut its position in shares of Community Bank System, Inc. (NYSE:CBU) by 32.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,040 shares of the bank’s stock after selling 1,001 shares during the quarter. SG Americas Securities LLC’s holdings in Community Bank System were worth $118,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Community Bank System by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,770,648 shares of the bank’s stock valued at $83,588,000 after buying an additional 142,909 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Community Bank System by 164.9% during the second quarter. Victory Capital Management Inc. now owns 213,167 shares of the bank’s stock valued at $10,064,000 after acquiring an additional 132,697 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Community Bank System by 152.9% during 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. Boston Partners acquired a new position in shares of Community Bank System during the first quarter valued at $3,558,000. Finally, Waterford Advisors LLC acquired a new position in shares of Community Bank System during the first quarter valued at $2,155,000. 73.79% of the stock is currently owned by institutional investors.

Community Bank System Price Performance

Shares of Community Bank System stock opened at $56.52 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $58.86 and its two-hundred day moving average price is $52.50. Community Bank System, Inc. has a 52 week low of $37.99 and a 52 week high of $63.95. The stock has a market cap of $2.98 billion, a PE ratio of 17.77 and a beta of 0.64.

Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.83 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.05). The business had revenue of $188.94 million during the quarter, compared to the consensus estimate of $186.35 million. Community Bank System had a return on equity of 8.94% and a net margin of 15.90%. Community Bank System’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share. As a group, sell-side analysts anticipate that Community Bank System, Inc. will post 3.42 EPS for the current fiscal year.

Community Bank System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.84 annualized dividend and a yield of 3.26%. Community Bank System’s payout ratio is presently 57.86%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CBU. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $59.00 price target on shares of Community Bank System in a report on Tuesday, September 10th. Raymond James cut shares of Community Bank System from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th.

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 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.