Community Bank System, Inc. (NYSE:CBU) Shares Sold by Invesco LLC

Invesco LLC cut its position in shares of Community Bank System, Inc. (NYSE:CBU) by 8.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,321 shares of the bank’s stock after selling 611 shares during the period. Invesco LLC’s holdings in Community Bank System were worth $367,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings 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 period. Federated Hermes Inc. raised its stake in shares of Community Bank System by 6.8% in the 2nd quarter. Federated Hermes Inc. now owns 691,879 shares of the bank’s stock valued at $32,664,000 after acquiring an additional 44,137 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Community Bank System by 164.9% during the 2nd 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 in the last quarter. Assenagon Asset Management S.A. boosted its position in Community Bank System by 152.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank’s stock worth $8,611,000 after purchasing an additional 110,288 shares during the period. Finally, Public Sector Pension Investment Board raised its position in Community Bank System by 6.2% in the second quarter. Public Sector Pension Investment Board now owns 116,116 shares of the bank’s stock valued at $5,482,000 after purchasing an additional 6,812 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on CBU. Raymond James upgraded Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 target price for the company in a research note on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $59.00 price objective on shares of Community Bank System in a research report on Tuesday, September 10th.

Community Bank System Stock Up 0.2 %

CBU traded up $0.11 on Friday, reaching $61.25. The company’s stock had a trading volume of 286,124 shares, compared to its average volume of 282,769. Community Bank System, Inc. has a 1 year low of $40.55 and a 1 year high of $63.95. The business’s 50 day moving average is $59.03 and its 200 day moving average is $53.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.75 and a quick ratio of 0.76. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 19.09 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). Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The company had revenue of $188.94 million for the quarter, compared to the consensus estimate of $186.35 million. During the same period in the previous year, the business posted $0.82 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts forecast that Community Bank System, Inc. will post 3.39 EPS for the current fiscal year.

Community Bank System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be issued a $0.46 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.00%. Community Bank System’s dividend payout ratio (DPR) is 57.32%.

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.