PNC Financial Services Group Inc. increased its position in shares of Community Bank System Inc. (NYSE:CBU) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 22,725 shares of the company’s stock after buying an additional 15 shares during the period. PNC Financial Services Group Inc. owned approximately 0.05% of Community Bank System worth $934,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CBU. C M Bidwell & Associates Ltd. increased its stake in Community Bank System by 1.0% in the first quarter. C M Bidwell & Associates Ltd. now owns 4,515 shares of the company’s stock worth $173,000 after buying an additional 45 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Community Bank System by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the company’s stock worth $801,000 after buying an additional 100 shares during the last quarter. Anchor Capital Advisors LLC increased its stake in Community Bank System by 0.9% in the second quarter. Anchor Capital Advisors LLC now owns 35,719 shares of the company’s stock worth $1,468,000 after buying an additional 308 shares during the last quarter. Capstone Asset Management Co. increased its stake in Community Bank System by 5.3% in the second quarter. Capstone Asset Management Co. now owns 13,310 shares of the company’s stock worth $547,000 after buying an additional 670 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Community Bank System by 8.5% in the first quarter. Legal & General Group Plc now owns 9,019 shares of the company’s stock worth $346,000 after buying an additional 710 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Shares of Community Bank System Inc. (NYSE:CBU) traded down 0.77% during trading on Friday, reaching $46.39. The company’s stock had a trading volume of 341,620 shares. The stock has a market cap of $2.05 billion, a P/E ratio of 21.07 and a beta of 0.98. The stock’s 50-day moving average is $45.78 and its 200-day moving average is $41.31. Community Bank System Inc. has a 12-month low of $34.27 and a 12-month high of $48.19.

Community Bank System (NYSE:CBU) last released its earnings results on Wednesday, July 20th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. Community Bank System had a return on equity of 8.64% and a net margin of 22.93%. The business earned $107.10 million during the quarter, compared to the consensus estimate of $106.66 million. During the same period last year, the business posted $0.58 earnings per share. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities research analysts anticipate that Community Bank System Inc. will post $2.31 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 15th will be given a $0.32 dividend. This is an increase from Community Bank System’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Tuesday, September 13th. Community Bank System’s dividend payout ratio (DPR) is currently 58.18%.

A number of analysts have recently weighed in on the company. Sandler O’Neill downgraded Community Bank System from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Hovde Group boosted their price target on Community Bank System from $38.00 to $43.00 and gave the stock a “market perform” rating in a report on Tuesday, July 26th. Finally, Zacks Investment Research raised Community Bank System from a “sell” rating to a “hold” rating in a report on Monday, June 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $41.50.

In other Community Bank System news, Director Brian R. Ace sold 3,817 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $43.40, for a total value of $165,657.80. Following the completion of the sale, the director now directly owns 50,275 shares of the company’s stock, valued at $2,181,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas A. Dicerbo sold 2,000 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $43.75, for a total value of $87,500.00. Following the completion of the sale, the director now directly owns 200,921 shares of the company’s stock, valued at $8,790,293.75. The disclosure for this sale can be found here. 3.48% of the stock is owned by company insiders.

Community Bank System Company Profile

Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.

5 Day Chart for NYSE:CBU

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