Wealth Enhancement Advisory Services LLC Lowers Position in Community Bank System, Inc. (NYSE:CBU)

Wealth Enhancement Advisory Services LLC decreased its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,682 shares of the bank’s stock after selling 363 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Community Bank System were worth $2,885,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CBU. BNP Paribas Financial Markets boosted its holdings in Community Bank System by 77.3% during the first quarter. BNP Paribas Financial Markets now owns 29,113 shares of the bank’s stock worth $1,398,000 after purchasing an additional 12,692 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Community Bank System by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 51,750 shares of the bank’s stock valued at $2,486,000 after acquiring an additional 2,911 shares in the last quarter. Texas Permanent School Fund Corp increased its position in shares of Community Bank System by 1.2% during the first quarter. Texas Permanent School Fund Corp now owns 46,671 shares of the bank’s stock valued at $2,242,000 after acquiring an additional 573 shares during the last quarter. Quantbot Technologies LP bought a new stake in Community Bank System during the first quarter worth $592,000. Finally, SG Americas Securities LLC purchased a new position in Community Bank System in the first quarter worth $583,000. Institutional investors own 73.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CBU shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $59.00 target price on shares of Community Bank System in a research note on Tuesday, September 10th. Raymond James raised shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective on the stock in a research report on Monday, October 28th.

Community Bank System Stock Performance

Shares of CBU opened at $61.28 on Friday. The stock’s fifty day moving average price is $59.04 and its two-hundred day moving average price is $52.93. Community Bank System, Inc. has a 1 year low of $40.55 and a 1 year high of $63.95. The firm has a market cap of $3.22 billion, a PE ratio of 19.09 and a beta of 0.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.75 and a quick ratio of 0.76.

Community Bank System (NYSE:CBU) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.05). Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The business had revenue of $188.94 million during the quarter, compared to analysts’ expectations of $186.35 million. During the same quarter in the previous year, the business earned $0.82 EPS. Community Bank System’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that Community Bank System, Inc. will post 3.39 EPS for the current year.

Community Bank System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, December 13th. This represents a $1.84 annualized dividend and a dividend yield of 3.00%. Community Bank System’s dividend payout ratio is currently 57.32%.

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.