NJ State Employees Deferred Compensation Plan lessened its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 40.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,000 shares of the bank’s stock after selling 4,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Community Bank System were worth $366,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clean Yield Group bought a new stake in Community Bank System during the second quarter worth about $212,000. Strs Ohio raised its holdings in Community Bank System by 29.0% during the second quarter. Strs Ohio now owns 4,000 shares of the bank’s stock worth $236,000 after acquiring an additional 900 shares in the last quarter. Stevens Capital Management LP bought a new stake in Community Bank System during the second quarter worth about $258,000. Landmark Bank bought a new stake in Community Bank System during the second quarter worth about $268,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Community Bank System during the second quarter worth approximately $303,000. Institutional investors and hedge funds own 70.62% of the company’s stock.

A number of equities analysts have weighed in on the company. ValuEngine downgraded Community Bank System from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Zacks Investment Research downgraded Community Bank System from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Hovde Group downgraded Community Bank System from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 24th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Community Bank System in a research report on Monday, July 23rd. Eight investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $60.60.

Shares of NYSE CBU opened at $59.25 on Thursday. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 2.31 and a beta of 1.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.73 and a current ratio of 0.73. Community Bank System, Inc. has a twelve month low of $50.69 and a twelve month high of $67.07.

Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Monday, July 23rd. The bank reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The firm had revenue of $143.40 million for the quarter, compared to the consensus estimate of $143.03 million. Community Bank System had a return on equity of 10.03% and a net margin of 33.19%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. On average, analysts anticipate that Community Bank System, Inc. will post 3.3 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Friday, September 14th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, September 13th. This is an increase from Community Bank System’s previous quarterly dividend of $0.34. Community Bank System’s payout ratio is 54.48%.

In other Community Bank System news, Director John F. Whipple sold 2,566 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $66.27, for a total transaction of $170,048.82. Following the transaction, the director now owns 2,835 shares of the company’s stock, valued at $187,875.45. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.34% of the stock is owned by insiders.

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 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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