Public Sector Pension Investment Board Lowers Holdings in Community Bank System, Inc. (NYSE:CBU)

Public Sector Pension Investment Board lowered its holdings in shares of Community Bank System, Inc. (NYSE:CBUGet Rating) by 0.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 99,796 shares of the bank’s stock after selling 763 shares during the period. Public Sector Pension Investment Board’s holdings in Community Bank System were worth $6,315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in Community Bank System by 82.8% in the 1st quarter. Covestor Ltd now owns 585 shares of the bank’s stock worth $41,000 after purchasing an additional 265 shares during the period. Van ECK Associates Corp bought a new position in shares of Community Bank System during the second quarter worth $86,000. Qube Research & Technologies Ltd bought a new position in shares of Community Bank System during the first quarter worth $215,000. Captrust Financial Advisors grew its stake in Community Bank System by 43.6% during the first quarter. Captrust Financial Advisors now owns 3,093 shares of the bank’s stock valued at $218,000 after acquiring an additional 939 shares in the last quarter. Finally, Bouchey Financial Group Ltd bought a new stake in Community Bank System in the 1st quarter valued at $218,000. Institutional investors own 70.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CBU shares. DA Davidson dropped their price objective on shares of Community Bank System to $59.00 in a report on Thursday, October 27th. StockNews.com started coverage on Community Bank System in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Hovde Group reduced their price objective on Community Bank System to $67.00 in a research note on Thursday, October 27th.

Community Bank System Price Performance

CBU stock opened at $64.70 on Thursday. Community Bank System, Inc. has a 52 week low of $59.21 and a 52 week high of $78.00. The firm has a market capitalization of $3.48 billion, a P/E ratio of 19.67 and a beta of 0.67. The company has a fifty day simple moving average of $62.81 and a two-hundred day simple moving average of $64.52. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10.

Community Bank System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 10th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Wednesday, December 14th. Community Bank System’s dividend payout ratio is 53.50%.

Community Bank System Company Profile

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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.

See Also

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

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