Public Sector Pension Investment Board Lowers Stock Holdings in Community Bank System, Inc. (NYSE:CBU)

Public Sector Pension Investment Board cut its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 111,516 shares of the bank’s stock after selling 4,600 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of Community Bank System worth $6,476,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of 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 worth $83,588,000 after acquiring an additional 142,909 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Community Bank System by 6.8% in the 2nd 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Community Bank System by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 652,991 shares of the bank’s stock valued at $37,919,000 after purchasing an additional 9,863 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Community Bank System by 164.9% during the 2nd quarter. Victory Capital Management Inc. now owns 213,167 shares of the bank’s stock valued at $10,064,000 after buying an additional 132,697 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Community Bank System by 152.9% during the 2nd 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 during the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Community Bank System

In other news, Director John F. Whipple sold 3,937 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 5,823 shares in the company, valued at $425,661.30. This trade represents a 40.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.89% of the company’s stock.

Community Bank System Stock Down 0.5 %

Shares of NYSE CBU opened at $69.23 on Friday. The stock has a fifty day moving average price of $62.82 and a 200 day moving average price of $56.40. The company has a market cap of $3.64 billion, a P/E ratio of 21.57 and a beta of 0.62. Community Bank System, Inc. has a 12-month low of $41.50 and a 12-month high of $73.39. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35.

Community Bank System (NYSE:CBU) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $186.35 million. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. Research analysts anticipate that Community Bank System, Inc. will post 3.38 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be paid a $0.46 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.84 annualized dividend and a dividend yield of 2.66%. Community Bank System’s dividend payout ratio (DPR) is presently 57.32%.

Analysts Set New Price Targets

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

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.