Community Bank System, Inc. (NYSE:CBU) Shares Sold by Canandaigua National Corp

Canandaigua National Corp cut its stake in shares of Community Bank System, Inc. (NYSE:CBUGet Rating) by 1.6% in the second quarter, Holdings Channel.com reports. The fund owned 26,855 shares of the bank’s stock after selling 445 shares during the period. Canandaigua National Corp’s holdings in Community Bank System were worth $1,699,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Community Bank System by 0.6% during the first quarter. BlackRock Inc. now owns 7,943,008 shares of the bank’s stock valued at $557,203,000 after acquiring an additional 50,524 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Community Bank System by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,382,421 shares of the bank’s stock valued at $447,727,000 after purchasing an additional 51,693 shares in the last quarter. State Street Corp grew its holdings in shares of Community Bank System by 14.8% in the first quarter. State Street Corp now owns 5,037,367 shares of the bank’s stock valued at $355,486,000 after purchasing an additional 647,871 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Community Bank System by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,173,356 shares of the bank’s stock valued at $82,312,000 after purchasing an additional 42,368 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Community Bank System by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 924,346 shares of the bank’s stock valued at $68,845,000 after purchasing an additional 56,203 shares in the last quarter. 70.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CBU shares. StockNews.com upgraded shares of Community Bank System from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. DA Davidson restated a “neutral” rating on shares of Community Bank System in a report on Thursday, July 28th.

Community Bank System Trading Up 0.8 %

NYSE CBU opened at $63.85 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.05. Community Bank System, Inc. has a 52 week low of $60.94 and a 52 week high of $78.00. The stock has a market capitalization of $3.43 billion, a PE ratio of 19.83 and a beta of 0.67. The firm has a 50 day moving average of $66.52 and a two-hundred day moving average of $66.67.

Community Bank System (NYSE:CBUGet Rating) last posted its quarterly earnings results on Monday, July 25th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.81 by $0.04. Community Bank System had a net margin of 26.78% and a return on equity of 9.53%. The company had revenue of $167.24 million during the quarter, compared to analysts’ expectations of $162.37 million. As a group, research analysts expect that Community Bank System, Inc. will post 3.56 EPS for the current fiscal year.

Community Bank System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, September 14th. This is a boost from Community Bank System’s previous quarterly dividend of $0.43. Community Bank System’s payout ratio is 54.66%.

Community Bank System Profile

(Get Rating)

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, 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 deposit accounts, as well as time deposits.

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Institutional Ownership by Quarter for Community Bank System (NYSE:CBU)

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