Community Bank System, Inc. (NYSE:CBU) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in Community Bank System, Inc. (NYSE:CBU) by 8.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,903 shares of the bank’s stock after selling 771 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Community Bank System were worth $459,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in 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 valued at $8,611,000 after purchasing an additional 110,288 shares during the last quarter. Boston Partners bought a new position in shares of Community Bank System in the first quarter worth about $3,558,000. Tidal Investments LLC boosted its stake in Community Bank System by 239.1% during the 1st quarter. Tidal Investments LLC now owns 17,257 shares of the bank’s stock valued at $829,000 after purchasing an additional 12,168 shares during the period. Citizens & Northern Corp bought a new position in Community Bank System in the 2nd quarter worth approximately $398,000. Finally, Ausbil Investment Management Ltd increased its position in Community Bank System by 494.7% during the third quarter. Ausbil Investment Management Ltd now owns 30,552 shares of the bank’s stock worth $1,774,000 after acquiring an additional 25,415 shares during the period. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CBU shares. Raymond James upgraded Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective on the stock in a research note on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $59.00 price objective on shares of Community Bank System in a report on Tuesday, September 10th.

Insider Activity

In related news, Director John F. Whipple sold 3,937 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.10, for a total transaction of $287,794.70. Following the completion of the sale, the director now owns 5,823 shares in the company, valued at approximately $425,661.30. This trade represents a 40.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.78% of the stock is currently owned by company insiders.

Community Bank System Trading Down 0.7 %

Shares of NYSE:CBU opened at $69.60 on Thursday. The stock has a market capitalization of $3.66 billion, a PE ratio of 21.68 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.76 and a quick ratio of 0.76. Community Bank System, Inc. has a one year low of $41.50 and a one year high of $73.39. The company’s 50-day moving average price is $62.18 and its two-hundred day moving average price is $56.00.

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

Community Bank System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, December 13th. Community Bank System’s dividend payout ratio is presently 57.32%.

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.