Community Bank System, Inc. (NYSE:CBU) Stake Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 9.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,730 shares of the bank’s stock after selling 4,554 shares during the quarter. Thrivent Financial for Lutherans owned 0.09% of Community Bank System worth $2,159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Louisiana State Employees Retirement System grew its stake in Community Bank System by 0.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the bank’s stock valued at $1,256,000 after acquiring an additional 200 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Community Bank System by 4.5% during the second quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank’s stock worth $231,000 after purchasing an additional 212 shares during the period. Arizona State Retirement System increased its stake in Community Bank System by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 14,930 shares of the bank’s stock valued at $705,000 after buying an additional 258 shares during the period. CIBC Asset Management Inc lifted its position in Community Bank System by 6.2% in the 2nd quarter. CIBC Asset Management Inc now owns 5,235 shares of the bank’s stock worth $247,000 after buying an additional 307 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of Community Bank System by 1.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 47,591 shares of the bank’s stock valued at $2,283,000 after buying an additional 555 shares during the period. 73.79% of the stock is owned by institutional investors and hedge funds.

Community Bank System Trading Down 2.9 %

Shares of NYSE:CBU opened at $56.38 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $2.97 billion, a PE ratio of 17.73 and a beta of 0.64. Community Bank System, Inc. has a 1 year low of $35.38 and a 1 year high of $63.95. The firm has a fifty day moving average price of $59.02 and a 200 day moving average price of $50.84.

Community Bank System (NYSE:CBU) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.14. The company had revenue of $183.80 million during the quarter, compared to the consensus estimate of $180.05 million. Community Bank System had a return on equity of 8.94% and a net margin of 15.90%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. Analysts expect that Community Bank System, Inc. will post 3.42 EPS for the current fiscal year.

Community Bank System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from Community Bank System’s previous quarterly dividend of $0.45. Community Bank System’s dividend payout ratio (DPR) is 57.86%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $59.00 price objective on shares of Community Bank System in a report on Tuesday, September 10th. Raymond James lowered Community Bank System from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.50.

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.