Amalgamated Bank Sells 695 Shares of Community Bank System, Inc. (NYSE:CBU)

Amalgamated Bank lowered its position in Community Bank System, Inc. (NYSE:CBU) by 4.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 15,447 shares of the bank’s stock after selling 695 shares during the period. Amalgamated Bank’s holdings in Community Bank System were worth $897,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in shares of Community Bank System by 77.3% in the first quarter. BNP Paribas Financial Markets now owns 29,113 shares of the bank’s stock worth $1,398,000 after purchasing an additional 12,692 shares in the last quarter. SG Americas Securities LLC bought a new position in Community Bank System in the 1st quarter worth approximately $583,000. Russell Investments Group Ltd. grew its stake in Community Bank System by 9.7% in the 1st quarter. Russell Investments Group Ltd. now owns 55,134 shares of the bank’s stock valued at $2,648,000 after buying an additional 4,879 shares in the last quarter. ProShare Advisors LLC grew its stake in Community Bank System by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 10,744 shares of the bank’s stock valued at $516,000 after buying an additional 739 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in Community Bank System during the 1st quarter valued at $555,000. 73.79% of the stock is currently owned by institutional investors.

Community Bank System Stock Performance

NYSE CBU opened at $68.62 on Friday. The company’s 50 day simple moving average is $60.08 and its two-hundred day simple moving average is $54.45. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.75 and a quick ratio of 0.76. Community Bank System, Inc. has a 1 year low of $41.50 and a 1 year high of $72.29. The stock has a market capitalization of $3.61 billion, a PE ratio of 21.38 and a beta of 0.62.

Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.05). The business had revenue of $188.94 million for the quarter, compared to the consensus estimate of $186.35 million. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. Community Bank System’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 EPS. Analysts predict that Community Bank System, Inc. will post 3.37 earnings per share for the current fiscal year.

Community Bank System Announces Dividend

The business also recently announced 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 2.68%. The ex-dividend date of this dividend is Friday, December 13th. Community Bank System’s dividend payout ratio is currently 57.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CBU shares. Raymond James raised Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target for the company in a report on Monday, October 28th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $59.00 target price on shares of Community Bank System in a research note on Tuesday, September 10th.

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.