Community Bank System, Inc. (NYSE:CBU) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 24.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,411 shares of the bank’s stock after selling 10,401 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Community Bank System worth $1,882,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CBU. Point72 DIFC Ltd acquired a new position in shares of Community Bank System during the 2nd quarter worth $76,000. Benjamin Edwards Inc. grew its position in Community Bank System by 27.5% during the second quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank’s stock worth $162,000 after buying an additional 741 shares during the period. IFG Advisory LLC purchased a new position in Community Bank System in the second quarter valued at about $212,000. Dark Forest Capital Management LP acquired a new stake in shares of Community Bank System during the 2nd quarter valued at approximately $231,000. Finally, QRG Capital Management Inc. boosted its stake 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 worth $231,000 after acquiring an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. 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. Raymond James raised Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target for the company in a research note on Monday, October 28th.

Community Bank System Price Performance

CBU stock opened at $68.09 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 0.76. The stock’s 50 day moving average price is $60.50 and its 200 day moving average price is $54.88. The firm has a market cap of $3.58 billion, a P/E ratio of 21.20 and a beta of 0.62. Community Bank System, Inc. has a 1 year low of $41.50 and a 1 year high of $72.29.

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

Community Bank System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, December 13th. Community Bank System’s dividend payout ratio is presently 57.32%.

Community Bank System Company 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.