Community Bank System, Inc. (NYSE:CBU) Stock Holdings Reduced by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its position in shares of Community Bank System, Inc. (NYSE:CBU) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,087 shares of the bank’s stock after selling 628 shares during the period. Public Employees Retirement Association of Colorado owned 0.72% of Community Bank System worth $18,038,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Community Bank System during the fourth quarter valued at approximately $30,870,000. Hsbc Holdings PLC acquired a new position in shares of Community Bank System during the 4th quarter worth $14,612,000. Dimensional Fund Advisors LP raised its holdings in shares of Community Bank System by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,770,648 shares of the bank’s stock valued at $83,588,000 after purchasing an additional 142,909 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Community Bank System by 164.9% in the 2nd quarter. Victory Capital Management Inc. now owns 213,167 shares of the bank’s stock valued at $10,064,000 after purchasing an additional 132,697 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Community Bank System by 152.9% in the second 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 in the last quarter. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CBU has been the topic of several recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $59.00 target price on shares of Community Bank System in a report on Tuesday, September 10th. Raymond James downgraded Community Bank System from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, Community Bank System presently has a consensus rating of “Hold” and an average target price of $50.50.

Community Bank System Stock Performance

Shares of CBU opened at $58.78 on Friday. 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 one year low of $35.38 and a one year high of $63.95. The company’s fifty day moving average price is $58.99 and its 200 day moving average price is $50.30. The company has a market capitalization of $3.10 billion, a PE ratio of 18.48 and a beta of 0.64.

Community Bank System (NYSE:CBU) last posted its quarterly earnings data 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 business had revenue of $183.80 million for the quarter, compared to analyst estimates of $180.05 million. During the same period in the previous year, the company posted $0.91 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts expect 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 declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, September 13th. This is a positive change from Community Bank System’s previous quarterly dividend of $0.45. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.13%. Community Bank System’s payout ratio is 57.86%.

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.