Pathway Financial Advisors LLC Decreases Stock Position in Community Bank System, Inc. (NYSE:CBU)

Pathway Financial Advisors LLC cut its holdings in Community Bank System, Inc. (NYSE:CBU) by 28.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,204 shares of the bank’s stock after selling 3,978 shares during the quarter. Pathway Financial Advisors LLC’s holdings in Community Bank System were worth $593,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in Community Bank System in the second quarter valued at about $76,000. Benjamin Edwards Inc. raised its stake in 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 buying an additional 780 shares during the last quarter. IFG Advisory LLC purchased a new stake in Community Bank System in the second quarter valued at about $212,000. QRG Capital Management Inc. increased its holdings in shares of Community Bank System by 4.5% in the second quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank’s stock valued at $231,000 after purchasing an additional 212 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in shares of Community Bank System in the second quarter valued at about $231,000. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Community Bank System Stock Down 0.7 %

Community Bank System stock opened at $56.91 on Wednesday. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 17.89 and a beta of 0.64. Community Bank System, Inc. has a 52 week low of $35.38 and a 52 week high of $63.95. The business’s 50-day moving average price is $58.49 and its 200 day moving average price is $51.35. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.43.

Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.95 EPS for the quarter, beating the consensus estimate of $0.81 by $0.14. Community Bank System had a return on equity of 8.94% and a net margin of 15.90%. The company had revenue of $183.80 million for the quarter, compared to analyst estimates of $180.05 million. During the same period last year, the company earned $0.91 earnings per share. Community Bank System’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side 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. Shareholders of record on Friday, September 13th will be issued a $0.46 dividend. 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 yield of 3.23%. The ex-dividend date is Friday, September 13th. Community Bank System’s dividend payout ratio (DPR) is presently 57.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CBU shares. 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 reissued a “market perform” rating and issued a $59.00 price objective on shares of Community Bank System in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.50.

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.