Arrow Financial Corp held its stake in Community Bank System, Inc. (NYSE:CBU) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,484 shares of the bank’s stock at the end of the second quarter. Arrow Financial Corp’s holdings in Community Bank System were worth $362,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in Community Bank System by 0.6% in the first quarter. Bank of Montreal Can now owns 4,182 shares of the bank’s stock valued at $230,000 after buying an additional 25 shares during the last quarter. IFC Holdings Incorporated FL boosted its stake in Community Bank System by 0.4% in the first quarter. IFC Holdings Incorporated FL now owns 16,487 shares of the bank’s stock valued at $907,000 after buying an additional 68 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Community Bank System by 2.8% in the first quarter. Victory Capital Management Inc. now owns 2,977 shares of the bank’s stock valued at $164,000 after buying an additional 81 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Community Bank System by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,920 shares of the bank’s stock valued at $270,000 after buying an additional 100 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its stake in Community Bank System by 8.2% in the second quarter. LS Investment Advisors LLC now owns 1,814 shares of the bank’s stock valued at $101,000 after buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 64.32% of the company’s stock.

Shares of Community Bank System, Inc. (NYSE CBU) opened at 54.13 on Thursday. The firm has a market cap of $2.73 billion, a PE ratio of 25.90 and a beta of 1.07. Community Bank System, Inc. has a 12 month low of $42.67 and a 12 month high of $63.04. The stock’s 50 day moving average is $55.21 and its 200 day moving average is $56.26.

Community Bank System (NYSE:CBU) last released its quarterly earnings data on Monday, July 31st. The bank reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.13. Community Bank System had a return on equity of 9.04% and a net margin of 20.63%. The company had revenue of $129.26 million during the quarter, compared to the consensus estimate of $127 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The firm’s revenue was up 20.7% compared to the same quarter last year. Analysts forecast that Community Bank System, Inc. will post $2.57 EPS for the current fiscal year.

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CBU has been the subject of several analyst reports. Piper Jaffray Companies reiterated a “hold” rating and set a $51.00 price target on shares of Community Bank System in a research report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “hold” rating on shares of Community Bank System in a research report on Wednesday, August 2nd. Finally, BidaskClub cut shares of Community Bank System from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $53.60.

In other news, Director Nicholas A. Dicerbo sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $56.03, for a total value of $168,090.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.20% of the company’s stock.

About Community Bank System

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.

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

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