Community Bank System, Inc. (NYSE:CBU) Stock Position Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,425 shares of the bank’s stock after selling 161 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Community Bank System were worth $644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in shares of Community Bank System by 59.2% in the third quarter. Van ECK Associates Corp now owns 1,035 shares of the bank’s stock valued at $71,000 after purchasing an additional 385 shares in the last quarter. US Asset Management LLC purchased a new stake in shares of Community Bank System in the third quarter valued at $161,000. Segall Bryant & Hamill LLC lifted its holdings in shares of Community Bank System by 2.0% in the third quarter. Segall Bryant & Hamill LLC now owns 306,748 shares of the bank’s stock valued at $20,987,000 after purchasing an additional 6,125 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Community Bank System by 7.1% in the third quarter. Raymond James & Associates now owns 17,062 shares of the bank’s stock valued at $1,167,000 after purchasing an additional 1,129 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Community Bank System by 517.3% in the third quarter. SG Americas Securities LLC now owns 56,316 shares of the bank’s stock valued at $3,853,000 after purchasing an additional 47,193 shares in the last quarter. 69.53% of the stock is owned by institutional investors and hedge funds.

CBU opened at $77.75 on Friday. The stock has a fifty day moving average of $74.26 and a 200-day moving average of $72.71. The firm has a market capitalization of $4.19 billion, a P/E ratio of 21.96 and a beta of 0.69. Community Bank System, Inc. has a 12-month low of $64.24 and a 12-month high of $82.53.

Community Bank System (NYSE:CBU) last announced its quarterly earnings data on Sunday, October 24th. The bank reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. Community Bank System had a return on equity of 9.37% and a net margin of 30.78%. The business had revenue of $156.90 million during the quarter, compared to analyst estimates of $151.62 million. During the same period last year, the company earned $0.85 earnings per share. Community Bank System’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities analysts expect that Community Bank System, Inc. will post 3.48 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 10th. Investors of record on Wednesday, December 15th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Tuesday, December 14th. This represents a $1.72 annualized dividend and a dividend yield of 2.21%. Community Bank System’s dividend payout ratio is 48.59%.

In related news, VP George J. Getman sold 7,097 shares of the stock in a transaction on Wednesday, December 22nd. The stock was sold at an average price of $73.42, for a total transaction of $521,061.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.63% of the stock is currently owned by company insiders.

Separately, Zacks Investment Research upgraded Community Bank System from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Monday, January 10th.

Community Bank System Profile

Community Bank System, Inc is a holding company, which engages in the provision of retail, business, and municipal banking services. It operates through the following segments: Banking, Employee Benefit Services, and All Other. The Banking segment offers array of lending and depository-related products and services to individuals, businesses, and municipal enterprises.

Further Reading: What does a bar chart display?

Want to see what other hedge funds are holding CBU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Community Bank System, Inc. (NYSE:CBU).

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

Receive News & Ratings for Community Bank System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Community Bank System and related companies with MarketBeat.com's FREE daily email newsletter.