Community Bank System, Inc. (CBU) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 17.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,783 shares of the bank’s stock after selling 3,153 shares during the quarter. First Trust Advisors LP’s holdings in Community Bank System were worth $817,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Community Bank System by 11.2% in the 2nd quarter. BlackRock Inc. now owns 6,034,186 shares of the bank’s stock worth $336,527,000 after purchasing an additional 609,319 shares during the last quarter. State Street Corp lifted its holdings in shares of Community Bank System by 69.6% during the second quarter. State Street Corp now owns 5,020,816 shares of the bank’s stock worth $280,008,000 after buying an additional 2,059,920 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Community Bank System by 7.9% during the second quarter. Vanguard Group Inc. now owns 4,808,411 shares of the bank’s stock worth $268,165,000 after buying an additional 353,538 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Community Bank System by 6.8% during the second quarter. Northern Trust Corp now owns 1,459,745 shares of the bank’s stock worth $81,410,000 after buying an additional 92,700 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Community Bank System by 7.5% during the second quarter. Goldman Sachs Group Inc. now owns 1,201,394 shares of the bank’s stock valued at $67,001,000 after purchasing an additional 84,015 shares during the period. 69.21% of the stock is currently owned by institutional investors.

In other news, Director Brian R. Ace sold 5,457 shares of the company’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $53.35, for a total transaction of $291,130.95. Following the transaction, the director now owns 55,647 shares of the company’s stock, valued at $2,968,767.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R Kallet Michael sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $53.00, for a total value of $265,000.00. Following the transaction, the director now directly owns 11,603 shares in the company, valued at approximately $614,959. The disclosure for this sale can be found here. Insiders sold 27,957 shares of company stock worth $1,507,931 over the last quarter. Company insiders own 3.20% of the company’s stock.

Shares of Community Bank System, Inc. (NYSE CBU) opened at $54.86 on Thursday. Community Bank System, Inc. has a 1 year low of $48.89 and a 1 year high of $63.04. The firm has a market capitalization of $2,798.18, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.12 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.72 and a quick ratio of 0.72.

Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Monday, October 23rd. The bank reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. Community Bank System had a return on equity of 9.22% and a net margin of 21.00%. The firm had revenue of $137.30 million for the quarter, compared to analysts’ expectations of $138.74 million. During the same period in the prior year, the business posted $0.61 earnings per share. The business’s revenue was up 26.7% compared to the same quarter last year. equities research analysts anticipate that Community Bank System, Inc. will post 2.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 15th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Thursday, December 14th. Community Bank System’s dividend payout ratio (DPR) is 62.10%.

A number of analysts have recently issued reports on CBU shares. Zacks Investment Research upgraded Community Bank System from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Wednesday, October 25th. DA Davidson set a $55.00 price objective on Community Bank System and gave the company a “hold” rating in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Keefe, Bruyette & Woods restated a “hold” rating and set a $54.00 price objective on shares of Community Bank System in a research report on Friday, October 13th. Finally, BidaskClub cut Community Bank System from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $55.20.

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About Community Bank System

Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.

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

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