Raymond James & Associates Lowers Stake in Community Bank System, Inc. (CBU)

Raymond James & Associates trimmed its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,621 shares of the bank’s stock after selling 281 shares during the quarter. Raymond James & Associates’ holdings in Community Bank System were worth $1,261,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Federated Investors Inc. PA lifted its holdings in shares of Community Bank System by 68,296.1% during the third quarter. Federated Investors Inc. PA now owns 949,338 shares of the bank’s stock worth $57,976,000 after buying an additional 947,950 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Community Bank System by 3.7% during the third quarter. BlackRock Inc. now owns 7,379,973 shares of the bank’s stock worth $450,695,000 after buying an additional 262,452 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Community Bank System by 1.9% during the third quarter. Vanguard Group Inc now owns 5,628,200 shares of the bank’s stock worth $343,714,000 after buying an additional 104,088 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Community Bank System by 1.9% during the third quarter. Vanguard Group Inc. now owns 5,628,200 shares of the bank’s stock worth $343,714,000 after buying an additional 104,088 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Community Bank System by 332.2% in the fourth quarter. First Trust Advisors LP now owns 91,539 shares of the bank’s stock valued at $5,337,000 after purchasing an additional 70,357 shares in the last quarter. 71.09% of the stock is owned by hedge funds and other institutional investors.

In other news, Director R Kallet Michael sold 6,725 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $62.49, for a total transaction of $420,245.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark E. Tryniski sold 11,369 shares of the business’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $62.11, for a total value of $706,128.59. Following the sale, the chief executive officer now owns 119,497 shares in the company, valued at $7,421,958.67. The disclosure for this sale can be found here. Insiders own 2.15% of the company’s stock.

A number of research analysts recently commented on the company. Zacks Investment Research downgraded Community Bank System from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. ValuEngine raised Community Bank System from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Stephens started coverage on Community Bank System in a research note on Tuesday, April 9th. They issued an “equal weight” rating and a $63.00 price target for the company. Finally, Boenning Scattergood reissued a “hold” rating on shares of Community Bank System in a research note on Wednesday, January 23rd. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Community Bank System presently has an average rating of “Hold” and a consensus price target of $61.25.

NYSE CBU traded down $1.21 during trading on Friday, hitting $62.38. 178,994 shares of the company’s stock were exchanged, compared to its average volume of 175,980. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.44 and a beta of 0.92. Community Bank System, Inc. has a fifty-two week low of $53.24 and a fifty-two week high of $67.07.

Community Bank System (NYSE:CBU) last issued its earnings results on Wednesday, January 23rd. The bank reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.02). The business had revenue of $141.61 million for the quarter, compared to analyst estimates of $142.54 million. Community Bank System had a return on equity of 10.55% and a net margin of 28.74%. During the same period in the previous year, the firm posted $0.64 EPS. On average, sell-side analysts predict that Community Bank System, Inc. will post 3.2 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Thursday, March 14th. Community Bank System’s dividend payout ratio (DPR) is currently 45.10%.

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About Community Bank System

Community Bank System, Inc provides banking solutions. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. The company's deposits include jumbo deposits and retail time deposits. It provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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Institutional Ownership by Quarter for Community Bank System (NYSE:CBU)

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