Community Bank System, Inc. (NYSE:CBU) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in Community Bank System, Inc. (NYSE:CBU) by 0.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,321 shares of the bank’s stock after selling 800 shares during the period. New York State Teachers Retirement System’s holdings in Community Bank System were worth $5,013,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CBU. Dimensional Fund Advisors LP grew its stake in 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 acquiring an additional 142,909 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Community Bank System by 6.8% in the second quarter. Federated Hermes Inc. now owns 691,879 shares of the bank’s stock valued at $32,664,000 after purchasing an additional 44,137 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Community Bank System by 164.9% in the second 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. Assenagon Asset Management S.A. lifted its position 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 worth $8,611,000 after buying an additional 110,288 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Community Bank System by 6.2% during the second quarter. Public Sector Pension Investment Board now owns 116,116 shares of the bank’s stock worth $5,482,000 after buying an additional 6,812 shares during the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.

Community Bank System Trading Up 2.3 %

Shares of Community Bank System stock opened at $62.20 on Wednesday. Community Bank System, Inc. has a fifty-two week low of $40.74 and a fifty-two week high of $63.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 0.75. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 19.38 and a beta of 0.62. The stock has a 50 day moving average of $59.06 and a 200 day moving average of $53.47.

Community Bank System (NYSE:CBU) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share 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 analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 earnings per share. As a group, research analysts predict that Community Bank System, Inc. will post 3.39 earnings per share for the current year.

Community Bank System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.84 annualized dividend and a dividend yield of 2.96%. Community Bank System’s dividend payout ratio is currently 57.32%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CBU. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $59.00 target price on shares of Community Bank System in a research note on Tuesday, September 10th. Raymond James upgraded shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective for the company in a research report on Monday, October 28th.

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.