Advisors Asset Management Inc. increased its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 9.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 19,689 shares of the bank’s stock after purchasing an additional 1,750 shares during the period. Advisors Asset Management Inc.’s holdings in Community Bank System were worth $1,088,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CBU. BlackRock Inc. boosted its position in Community Bank System by 11.2% in the 2nd quarter. BlackRock Inc. now owns 6,034,186 shares of the bank’s stock valued at $336,527,000 after buying an additional 609,319 shares during the period. State Street Corp boosted its position in Community Bank System by 69.6% in the 2nd quarter. State Street Corp now owns 5,020,816 shares of the bank’s stock valued at $280,008,000 after buying an additional 2,059,920 shares during the period. Vanguard Group Inc. boosted its position in Community Bank System by 7.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,808,411 shares of the bank’s stock valued at $268,165,000 after buying an additional 353,538 shares during the period. Northern Trust Corp boosted its position in Community Bank System by 6.8% in the 2nd quarter. Northern Trust Corp now owns 1,459,745 shares of the bank’s stock valued at $81,410,000 after buying an additional 92,700 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Community Bank System by 7.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,201,394 shares of the bank’s stock valued at $67,001,000 after buying an additional 84,015 shares during the period. 69.22% of the stock is owned by hedge funds and other institutional investors.

In other news, Director R Kallet Michael sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $53.00, for a total value of $265,000.00. Following the sale, the director now directly owns 11,603 shares in the company, valued at approximately $614,959. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian R. Ace sold 5,457 shares of the firm’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $53.35, for a total transaction of $291,130.95. Following the completion of the sale, the director now owns 55,647 shares in the company, valued at $2,968,767.45. The disclosure for this sale can be found here. Insiders sold a total of 27,957 shares of company stock worth $1,507,931 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Several brokerages have commented on CBU. BidaskClub cut shares of Community Bank System from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Zacks Investment Research cut shares of Community Bank System from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $54.00 price target on shares of Community Bank System in a research report on Friday, October 13th. DA Davidson set a $55.00 price target on shares of Community Bank System and gave the company a “hold” rating in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $51.00 price target on shares of Community Bank System in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company has an average rating of “Hold” and an average price target of $55.20.

Shares of Community Bank System, Inc. (CBU) traded down $1.42 on Friday, hitting $55.38. 282,300 shares of the stock were exchanged, compared to its average volume of 261,799. Community Bank System, Inc. has a fifty-two week low of $48.89 and a fifty-two week high of $63.04. The firm has a market cap of $2,780.00, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.72 and a quick ratio of 0.72.

Community Bank System (NYSE:CBU) last announced its quarterly earnings data on Monday, October 23rd. The bank reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.06. Community Bank System had a net margin of 21.00% and a return on equity of 9.22%. The business had revenue of $137.30 million for the quarter, compared to analyst estimates of $138.74 million. During the same period last year, the business earned $0.61 EPS. The company’s revenue was up 26.7% on a year-over-year basis. equities research analysts expect that Community Bank System, Inc. will post 2.61 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 15th will be issued a $0.34 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.46%. Community Bank System’s payout ratio is 63.85%.

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Community Bank System 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.

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

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