Millennium Management LLC Sells 37,106 Shares of Community Bank System, Inc. (NYSE:CBU)

Millennium Management LLC trimmed its position in Community Bank System, Inc. (NYSE:CBU - Free Report) by 59.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,562 shares of the bank's stock after selling 37,106 shares during the quarter. Millennium Management LLC's holdings in Community Bank System were worth $1,577,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Community Bank System during the fourth quarter worth about $34,779,000. Deprince Race & Zollo Inc. acquired a new position in Community Bank System during the 4th quarter worth approximately $32,368,000. JPMorgan Chase & Co. increased its position in Community Bank System by 210.0% during the 4th quarter. JPMorgan Chase & Co. now owns 348,405 shares of the bank's stock worth $21,490,000 after purchasing an additional 236,028 shares in the last quarter. Northern Trust Corp lifted its stake in Community Bank System by 27.3% in the 4th quarter. Northern Trust Corp now owns 677,841 shares of the bank's stock valued at $41,809,000 after purchasing an additional 145,172 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Community Bank System by 12.9% in the 4th quarter. Federated Hermes Inc. now owns 831,387 shares of the bank's stock valued at $51,280,000 after purchasing an additional 94,850 shares during the last quarter. 73.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Community Bank System from a "sell" rating to a "hold" rating in a research note on Friday, May 16th.

Community Bank System Trading Up 0.9%

Shares of NYSE:CBU traded up $0.53 during midday trading on Friday, hitting $56.14. 33,032 shares of the stock were exchanged, compared to its average volume of 254,357. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 16.31 and a beta of 0.79. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The business's 50-day moving average price is $55.15 and its 200 day moving average price is $60.61. Community Bank System, Inc. has a 12 month low of $42.16 and a 12 month high of $73.39.

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

Community Bank System Dividend Announcement

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 paid a $0.46 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.84 annualized dividend and a dividend yield of 3.28%. Community Bank System's dividend payout ratio is 50.97%.

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.