Invesco LLC Lowers Position in Community Bank System, Inc. (NYSE:CBU)

Invesco LLC reduced its position in shares of Community Bank System, Inc. (NYSE:CBU) by 8.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,321 shares of the bank’s stock after selling 611 shares during the period. Invesco LLC’s holdings in Community Bank System were worth $367,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Community Bank System in the first quarter valued at approximately $592,000. Assenagon Asset Management S.A. boosted its position in shares of Community Bank System by 152.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank’s stock worth $8,611,000 after purchasing an additional 110,288 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Community Bank System during the 1st quarter worth $583,000. Boston Partners purchased a new position in shares of Community Bank System in the 1st quarter valued at about $3,558,000. Finally, Tidal Investments LLC lifted its stake in shares of 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 purchasing an additional 12,168 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.

Wall Street Analyst Weigh In

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

Community Bank System Price Performance

NYSE:CBU traded up $0.11 during trading hours on Friday, reaching $61.25. 286,124 shares of the company traded hands, compared to its average volume of 282,769. 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 $40.55 and a 1-year high of $63.95. The firm’s 50-day moving average is $59.03 and its 200-day moving average is $53.06. The stock has a market cap of $3.22 billion, a P/E ratio of 19.09 and a beta of 0.64.

Community Bank System (NYSE:CBU) last issued its quarterly earnings results 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 business had revenue of $188.94 million for the quarter, compared to analysts’ expectations of $186.35 million. Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. Equities research analysts expect that Community Bank System, Inc. will post 3.39 earnings per share for the current fiscal year.

Community Bank System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be issued 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 dividend yield of 3.00%. Community Bank System’s payout ratio is currently 57.32%.

About Community Bank System

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.