Pathway Financial Advisors LLC Decreases Stock Holdings in Community Bank System, Inc. (NYSE:CBU)

Pathway Financial Advisors LLC trimmed its position in shares of Community Bank System, Inc. (NYSE:CBU) by 28.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,204 shares of the bank’s stock after selling 3,978 shares during the period. Pathway Financial Advisors LLC’s holdings in Community Bank System were worth $593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in shares of Community Bank System during the 2nd quarter worth approximately $76,000. Benjamin Edwards Inc. increased its position in shares of Community Bank System by 40.7% during the 1st quarter. Benjamin Edwards Inc. now owns 2,695 shares of the bank’s stock valued at $129,000 after purchasing an additional 780 shares during the last quarter. IFG Advisory LLC bought a new position in shares of Community Bank System during the 2nd quarter valued at approximately $212,000. Dark Forest Capital Management LP bought a new position in shares of Community Bank System during the 2nd quarter valued at approximately $231,000. Finally, QRG Capital Management Inc. increased its position in shares of Community Bank System by 4.5% during the 2nd quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank’s stock valued at $231,000 after purchasing an additional 212 shares during the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.

Community Bank System Price Performance

Shares of CBU stock opened at $56.91 on Wednesday. Community Bank System, Inc. has a twelve month low of $35.38 and a twelve month high of $63.95. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 17.89 and a beta of 0.64. The stock has a fifty day simple moving average of $58.49 and a two-hundred day simple moving average of $51.35. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43.

Community Bank System (NYSE:CBU) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.14. The business had revenue of $183.80 million during the quarter, compared to analysts’ expectations of $180.05 million. Community Bank System had a return on equity of 8.94% and a net margin of 15.90%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 EPS. On average, analysts predict that Community Bank System, Inc. will post 3.42 EPS for the current fiscal year.

Community Bank System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 13th will be paid a dividend of $0.46 per share. This is a boost 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 3.23%. The ex-dividend date is Friday, September 13th. Community Bank System’s dividend payout ratio is 57.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CBU shares. Raymond James downgraded Community Bank System from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. 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. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, Community Bank System presently has an average rating of “Hold” and a consensus price target of $50.50.

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.