Balyasny Asset Management L.P. Cuts Stock Position in Community Bank System, Inc. (NYSE:CBU)

Balyasny Asset Management L.P. lowered its stake in Community Bank System, Inc. (NYSE:CBU - Free Report) by 38.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,273 shares of the bank's stock after selling 68,401 shares during the quarter. Balyasny Asset Management L.P. owned about 0.21% of Community Bank System worth $6,740,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC raised its holdings in Community Bank System by 99.0% during the 3rd quarter. Barclays PLC now owns 109,647 shares of the bank's stock valued at $6,367,000 after buying an additional 54,554 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Community Bank System by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 112,377 shares of the bank's stock valued at $6,526,000 after acquiring an additional 1,587 shares during the period. Fulton Bank N.A. raised its stake in shares of Community Bank System by 17.7% in the fourth quarter. Fulton Bank N.A. now owns 9,506 shares of the bank's stock valued at $586,000 after acquiring an additional 1,428 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Community Bank System by 6.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 52,767 shares of the bank's stock valued at $3,064,000 after acquiring an additional 3,085 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Community Bank System by 699.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank's stock worth $8,932,000 after purchasing an additional 126,700 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CBU. StockNews.com lowered shares of Community Bank System from a "hold" rating to a "sell" rating in a research report on Thursday, May 8th. Keefe, Bruyette & Woods increased their price target on Community Bank System from $74.00 to $76.00 and gave the stock a "market perform" rating in a report on Wednesday, January 22nd.

Community Bank System Trading Down 0.6%

CBU traded down $0.33 during trading on Tuesday, hitting $57.83. 192,413 shares of the stock were exchanged, compared to its average volume of 259,939. The firm has a 50 day simple moving average of $55.45 and a 200 day simple moving average of $61.65. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 16.81 and a beta of 0.77. Community Bank System, Inc. has a 1 year low of $42.16 and a 1 year high of $73.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76.

Community Bank System (NYSE:CBU - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm had revenue of $196.20 million for the quarter, compared to analyst estimates of $197.13 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The business's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 earnings per share. As a group, equities analysts expect that Community Bank System, Inc. will post 4.18 EPS for the current year.

Community Bank System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 13th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Friday, June 13th. Community Bank System's payout ratio is 50.97%.

Community Bank System Profile

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.