Segall Bryant & Hamill LLC Lowers Stock Position in Community Bank System, Inc. (NYSE:CBU)

Segall Bryant & Hamill LLC lowered its position in shares of Community Bank System, Inc. (NYSE:CBU) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 479,845 shares of the bank’s stock after selling 18,267 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Community Bank System were worth $27,865,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CBU. LMR Partners LLP bought a new stake in shares of Community Bank System during the 3rd quarter valued at $334,000. Quest Partners LLC purchased a new stake in Community Bank System in the 3rd quarter worth $1,551,000. Natixis Advisors LLC raised its holdings in Community Bank System by 10.0% during the third quarter. Natixis Advisors LLC now owns 13,488 shares of the bank’s stock valued at $783,000 after acquiring an additional 1,228 shares during the period. KBC Group NV lifted its position in shares of Community Bank System by 23.6% in the third quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after acquiring an additional 347 shares in the last quarter. Finally, Atria Investments Inc boosted its stake in shares of Community Bank System by 30.6% in the third quarter. Atria Investments Inc now owns 7,621 shares of the bank’s stock worth $443,000 after acquiring an additional 1,787 shares during the period. 73.79% of the stock is currently owned by institutional investors.

Community Bank System Stock Performance

NYSE CBU opened at $68.26 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.76 and a quick ratio of 0.76. Community Bank System, Inc. has a 1-year low of $41.50 and a 1-year high of $72.29. The business has a 50 day simple moving average of $60.93 and a two-hundred day simple moving average of $55.20. The stock has a market capitalization of $3.59 billion, a PE ratio of 21.26 and a beta of 0.62.

Community Bank System (NYSE:CBU) last posted its 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 during the quarter, compared to analysts’ expectations of $186.35 million. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. On average, research analysts predict that Community Bank System, Inc. will post 3.38 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, December 13th. This represents a $1.84 annualized dividend and a yield of 2.70%. Community Bank System’s payout ratio is presently 57.32%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CBU shares. Raymond James raised shares of 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $59.00 target price on shares of Community Bank System in a research note on Tuesday, September 10th.

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.