Wealth Enhancement Advisory Services LLC Cuts Stock Holdings in Community Bank System, Inc. (NYSE:CBU)

Wealth Enhancement Advisory Services LLC reduced its position in shares of Community Bank System, Inc. (NYSE:CBU) by 3.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,634 shares of the bank’s stock after selling 1,491 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.09% of Community Bank System worth $2,336,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Community Bank System in the fourth quarter worth approximately $30,870,000. Hsbc Holdings PLC purchased a new position in shares of Community Bank System during the 4th quarter worth about $14,612,000. Public Employees Retirement Association of Colorado boosted its stake in shares of Community Bank System by 140.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 386,069 shares of the bank’s stock worth $20,118,000 after purchasing an additional 225,685 shares during the period. Goldman Sachs Group Inc. boosted its position in Community Bank System by 15.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 814,362 shares of the bank’s stock valued at $42,436,000 after buying an additional 107,285 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Community Bank System by 6.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,582,679 shares of the bank’s stock valued at $82,475,000 after purchasing an additional 91,165 shares in the last quarter. 73.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson reiterated a “neutral” rating and set a $50.00 price objective on shares of Community Bank System in a research note on Thursday, March 14th.

Community Bank System Trading Down 1.8 %

NYSE CBU opened at $46.24 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.24. The firm has a market cap of $2.44 billion, a PE ratio of 14.54 and a beta of 0.65. The company has a 50 day moving average price of $45.64 and a 200 day moving average price of $46.50. Community Bank System, Inc. has a 52 week low of $35.38 and a 52 week high of $55.45.

Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.82 EPS for the quarter, topping the consensus estimate of $0.79 by $0.03. Community Bank System had a net margin of 16.59% and a return on equity of 8.93%. The firm had revenue of $178.29 million during the quarter, compared to analyst estimates of $178.97 million. As a group, sell-side analysts forecast that Community Bank System, Inc. will post 3.21 EPS for the current fiscal year.

Community Bank System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Friday, June 14th. Community Bank System’s dividend payout ratio (DPR) is presently 56.60%.

Insider Buying and Selling at Community Bank System

In related news, CEO Dimitar Karaivanov acquired 1,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were acquired at an average cost of $43.52 per share, with a total value of $43,520.00. Following the completion of the acquisition, the chief executive officer now directly owns 19,653 shares in the company, valued at approximately $855,298.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.78% of the company’s stock.

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.