Commonwealth Equity Services LLC Sells 1,077 Shares of Community Bank System, Inc. (NYSE:CBU)

Commonwealth Equity Services LLC trimmed its stake in Community Bank System, Inc. (NYSE:CBU) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,857 shares of the bank’s stock after selling 1,077 shares during the period. Commonwealth Equity Services LLC’s holdings in Community Bank System were worth $1,221,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CBU. Charles Schwab Investment Management Inc. grew its holdings in shares of Community Bank System by 5.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 591,913 shares of the bank’s stock worth $30,845,000 after purchasing an additional 32,459 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Community Bank System during the fourth quarter worth about $262,000. Dimensional Fund Advisors LP raised its stake in shares of Community Bank System by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,582,679 shares of the bank’s stock valued at $82,475,000 after acquiring an additional 91,165 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Community Bank System in the fourth quarter valued at approximately $208,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Community Bank System by 2.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 48,839 shares of the bank’s stock worth $2,545,000 after acquiring an additional 1,290 shares in the last quarter. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Community Bank System Trading Up 1.8 %

CBU stock opened at $57.59 on Monday. 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, Inc. has a twelve month low of $35.38 and a twelve month high of $63.95. The company has a market cap of $3.03 billion, a P/E ratio of 18.11 and a beta of 0.64. The business has a fifty day moving average of $58.02 and a 200-day moving average of $49.86.

Community Bank System (NYSE:CBU) last released its earnings results on Tuesday, July 23rd. The bank reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.14. Community Bank System had a net margin of 15.90% and a return on equity of 8.94%. The company had revenue of $183.80 million for the quarter, compared to the consensus estimate of $180.05 million. During the same period in the prior year, the company posted $0.91 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Community Bank System, Inc. will post 3.42 EPS for the current year.

Community Bank System Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Raymond James cut Community Bank System from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $59.00 price target on shares of Community Bank System in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.50.

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.