Community Bank System, Inc. (NYSE:CBU) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 164.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,167 shares of the bank’s stock after purchasing an additional 132,697 shares during the period. Victory Capital Management Inc. owned about 0.40% of Community Bank System worth $10,064,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CBU. Quantbot Technologies LP purchased a new position in shares of Community Bank System in the first quarter valued at approximately $592,000. Trexquant Investment LP boosted its stake in Community Bank System by 466.5% during the 4th quarter. Trexquant Investment LP now owns 31,816 shares of the bank’s stock worth $1,658,000 after purchasing an additional 26,200 shares during the last quarter. Assenagon Asset Management S.A. grew 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 worth $8,611,000 after buying an additional 110,288 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Community Bank System in the first quarter valued at about $583,000. Finally, Boston Partners purchased a new position in shares of Community Bank System in the first quarter worth about $3,558,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

Community Bank System Trading Up 2.6 %

Shares of CBU stock opened at $57.59 on Friday. The company has a 50-day moving average of $58.02 and a two-hundred day moving average of $49.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.76 and a quick ratio of 0.76. Community Bank System, Inc. has a 1-year low of $35.38 and a 1-year high of $63.95. The firm has a market cap of $3.03 billion, a PE ratio of 18.11 and a beta of 0.64.

Community Bank System (NYSE:CBU) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.95 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $180.05 million. During the same period in the prior year, the firm earned $0.91 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that Community Bank System, Inc. will post 3.42 EPS for the current year.

Community Bank System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 13th will be given a $0.46 dividend. This is an increase from Community Bank System’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Friday, September 13th. Community Bank System’s payout ratio is currently 56.60%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CBU. 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $59.00 price target on shares of Community Bank System in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, Community Bank System currently has an average 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.