Community Bank System, Inc. (NYSE:CBU) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC cut its holdings in Community Bank System, Inc. (NYSE:CBU) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,742 shares of the bank’s stock after selling 9,107 shares during the period. NFJ Investment Group LLC’s holdings in Community Bank System were worth $8,173,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new position in shares of Community Bank System in the 2nd quarter valued at about $76,000. KBC Group NV boosted its holdings in Community Bank System by 23.6% in the third quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after purchasing an additional 347 shares in the last quarter. Stone House Investment Management LLC increased its stake in Community Bank System by 51.0% in the third quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank’s stock valued at $137,000 after purchasing an additional 797 shares during the last quarter. Benjamin Edwards Inc. raised its holdings 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 purchasing an additional 741 shares in the last quarter. Finally, IFG Advisory LLC purchased a new stake in shares of Community Bank System during the 2nd quarter worth approximately $212,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Community Bank System

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CBU shares. Raymond James upgraded shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target 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.

Community Bank System Trading Down 1.6 %

NYSE CBU opened at $68.02 on Wednesday. The firm’s fifty day moving average is $63.22 and its two-hundred day moving average is $56.75. Community Bank System, Inc. has a one year low of $41.50 and a one year high of $73.39. 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 firm has a market cap of $3.58 billion, a PE ratio of 21.19 and a beta of 0.65.

Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $186.35 million. During the same quarter last year, the firm earned $0.82 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Analysts expect that Community Bank System, Inc. will post 3.38 earnings per share for the current year.

Community Bank System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a yield of 2.71%. Community Bank System’s dividend payout ratio (DPR) is 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.