Destination Wealth Management lowered its stake in Community Bank System, Inc. (NYSE:CBU) by 30.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,224 shares of the bank’s stock after selling 539 shares during the period. Destination Wealth Management’s holdings in Community Bank System were worth $81,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Community Bank System in the 4th quarter valued at approximately $23,160,000. Segall Bryant & Hamill LLC lifted its position in Community Bank System by 77.0% in the 4th quarter. Segall Bryant & Hamill LLC now owns 149,741 shares of the bank’s stock valued at $8,730,000 after acquiring an additional 65,140 shares in the last quarter. Ellis Investment Partners LLC bought a new position in Community Bank System in the 1st quarter valued at approximately $58,000. Geode Capital Management LLC lifted its position in Community Bank System by 10.9% in the 4th quarter. Geode Capital Management LLC now owns 554,374 shares of the bank’s stock valued at $32,320,000 after acquiring an additional 54,515 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Community Bank System by 105.9% in the 4th quarter. Bank of America Corp DE now owns 88,770 shares of the bank’s stock valued at $5,174,000 after acquiring an additional 45,655 shares in the last quarter. Institutional investors own 71.32% of the company’s stock.

In related news, Director Brian R. Ace sold 4,471 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $65.78, for a total value of $294,102.38. Following the transaction, the director now directly owns 61,910 shares of the company’s stock, valued at approximately $4,072,439.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R Kallet Michael sold 3,100 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $64.83, for a total value of $200,973.00. Following the completion of the transaction, the director now directly owns 52,909 shares in the company, valued at $3,430,090.47. The disclosure for this sale can be found here. 2.15% of the stock is owned by corporate insiders.

CBU has been the topic of several analyst reports. Stephens initiated coverage on Community Bank System in a research report on Tuesday, April 9th. They issued an “equal weight” rating and a $63.00 price objective on the stock. ValuEngine raised Zuora from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th. Finally, Zacks Investment Research cut H&E Equipment Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $67.50.

Shares of NYSE CBU traded up $0.36 during midday trading on Tuesday, hitting $64.82. 2,397 shares of the stock traded hands, compared to its average volume of 150,887. The stock has a 50-day moving average price of $64.68. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 2.46 and a beta of 0.99. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. Community Bank System, Inc. has a one year low of $54.46 and a one year high of $67.79.

Community Bank System (NYSE:CBU) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $149.00 million for the quarter, compared to analysts’ expectations of $144.08 million. Community Bank System had a return on equity of 10.49% and a net margin of 28.93%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. On average, equities analysts anticipate that Community Bank System, Inc. will post 3.28 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.52 annualized dividend and a dividend yield of 2.34%. Community Bank System’s payout ratio is 45.10%.

Community Bank System Company Profile

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, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.

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

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