Victory Capital Management Inc. Sells 67,139 Shares of Community Bank System, Inc. (NYSE:CBU)

Victory Capital Management Inc. lessened its position in shares of Community Bank System, Inc. (NYSE:CBU) by 31.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,028 shares of the bank’s stock after selling 67,139 shares during the quarter. Victory Capital Management Inc. owned approximately 0.28% of Community Bank System worth $8,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. lifted its position in shares of Community Bank System by 9.7% during the 1st quarter. Russell Investments Group Ltd. now owns 55,134 shares of the bank’s stock worth $2,648,000 after buying an additional 4,879 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Community Bank System by 41.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,568 shares of the bank’s stock worth $1,132,000 after buying an additional 6,360 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in Community Bank System by 1.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 47,591 shares of the bank’s stock worth $2,283,000 after purchasing an additional 555 shares during the period. Quadrature Capital Ltd acquired a new position in Community Bank System in the first quarter valued at approximately $412,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Community Bank System by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,219 shares of the bank’s stock valued at $1,644,000 after purchasing an additional 1,897 shares during the last quarter. 73.79% of the stock is currently owned by institutional investors.

Community Bank System Stock Up 1.6 %

CBU stock opened at $68.91 on Friday. The business has a 50 day moving average price of $61.16 and a two-hundred day moving average price of $55.28. Community Bank System, Inc. has a twelve month low of $41.50 and a twelve month high of $72.29. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 21.47 and a beta of 0.62. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.35.

Community Bank System (NYSE:CBU) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.83 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.05). The company had revenue of $188.94 million during the quarter, compared to analyst estimates of $186.35 million. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. Community Bank System’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 earnings per share. Analysts anticipate that Community Bank System, Inc. will post 3.38 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The firm 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 dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.67%. Community Bank System’s dividend payout ratio (DPR) is currently 57.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $59.00 price target on shares of Community Bank System in a research note on Tuesday, September 10th. 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 report on Monday, October 28th.

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.