Mutual of America Capital Management LLC Sells 771 Shares of Community Bank System, Inc. (NYSE:CBU)

Mutual of America Capital Management LLC lowered its stake in Community Bank System, Inc. (NYSE:CBU) by 8.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,903 shares of the bank’s stock after selling 771 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Community Bank System were worth $459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in CBU. Natixis Advisors LLC grew its holdings in Community Bank System by 10.0% during the 3rd quarter. Natixis Advisors LLC now owns 13,488 shares of the bank’s stock valued at $783,000 after buying an additional 1,228 shares in the last quarter. KBC Group NV raised its stake in shares of Community Bank System by 23.6% during the third quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after acquiring an additional 347 shares in the last quarter. Atria Investments Inc raised its holdings in shares of Community Bank System by 30.6% in the 3rd quarter. Atria Investments Inc now owns 7,621 shares of the bank’s stock valued at $443,000 after purchasing an additional 1,787 shares in the last quarter. QRG Capital Management Inc. grew its stake in Community Bank System by 19.9% in the third quarter. QRG Capital Management Inc. now owns 5,867 shares of the bank’s stock valued at $341,000 after purchasing an additional 972 shares during the last quarter. Finally, Ausbil Investment Management Ltd increased its position in Community Bank System by 494.7% during the 3rd quarter. Ausbil Investment Management Ltd now owns 30,552 shares of the bank’s stock valued at $1,774,000 after buying an additional 25,415 shares in the last quarter. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Community Bank System Stock Down 0.7 %

CBU opened at $69.60 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.35. The firm has a market cap of $3.66 billion, a P/E ratio of 21.68 and a beta of 0.62. The business’s fifty day simple moving average is $62.18 and its 200 day simple moving average is $56.00. Community Bank System, Inc. has a 52 week low of $41.50 and a 52 week high of $73.39.

Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.05). The company had revenue of $188.94 million during the quarter, compared to the consensus estimate of $186.35 million. Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 EPS. As a group, equities research analysts anticipate that Community Bank System, Inc. will post 3.38 EPS for the current fiscal year.

Community Bank System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.84 annualized dividend and a yield of 2.64%. Community Bank System’s dividend payout ratio (DPR) is presently 57.32%.

Insider Activity

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of Community Bank System stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.10, for a total transaction of $287,794.70. Following the completion of the transaction, the director now directly owns 5,823 shares of the company’s stock, valued at approximately $425,661.30. This trade represents a 40.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.78% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CBU has been the subject of a number of research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $59.00 target price on shares of Community Bank System in a research report on Tuesday, September 10th. Raymond James raised shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a research note on Monday, October 28th.

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.