Victory Capital Management Inc. Lowers Position in Community Bank System, Inc. (NYSE:CBU)

Victory Capital Management Inc. trimmed its position in shares of Community Bank System, Inc. (NYSE:CBU) by 31.5% during the third quarter, Holdings Channel.com reports. The fund owned 146,028 shares of the bank’s stock after selling 67,139 shares during the quarter. Victory Capital Management Inc.’s holdings in Community Bank System were worth $8,480,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in Community Bank System by 152.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank’s stock valued at $8,611,000 after purchasing an additional 110,288 shares during the period. Boston Partners purchased a new position in Community Bank System in the first quarter valued at about $3,558,000. Tidal Investments LLC boosted its stake in Community Bank System by 239.1% in the first quarter. Tidal Investments LLC now owns 17,257 shares of the bank’s stock valued at $829,000 after acquiring an additional 12,168 shares during the last quarter. Citizens & Northern Corp bought a new position in shares of Community Bank System during the 2nd quarter valued at approximately $398,000. Finally, Ausbil Investment Management Ltd increased its stake in shares of Community Bank System by 494.7% during the 3rd quarter. Ausbil Investment Management Ltd now owns 30,552 shares of the bank’s stock worth $1,774,000 after purchasing an additional 25,415 shares during the last quarter. Institutional investors own 73.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on CBU shares. Raymond James upgraded Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective on the stock in a research note on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $59.00 price target on shares of Community Bank System in a research report on Tuesday, September 10th.

Community Bank System Stock Up 1.6 %

Community Bank System stock opened at $68.91 on Friday. Community Bank System, Inc. has a 1-year low of $41.50 and a 1-year high of $72.29. The firm has a 50 day simple moving average of $61.16 and a 200 day simple moving average of $55.28. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 21.47 and a beta of 0.62.

Community Bank System (NYSE:CBU) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.05). The firm had revenue of $188.94 million for the quarter, compared to analysts’ expectations of $186.35 million. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 earnings per share. On average, analysts predict that Community Bank System, Inc. will post 3.38 earnings per share for the current year.

Community Bank System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, December 13th. Community Bank System’s payout ratio is 57.32%.

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