Rhumbline Advisers Sells 7,060 Shares of Community Bank System, Inc. (NYSE:CBU)

Rhumbline Advisers lessened its stake in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) by 4.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 149,888 shares of the bank's stock after selling 7,060 shares during the period. Rhumbline Advisers owned about 0.28% of Community Bank System worth $8,523,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CBU. Federated Hermes Inc. grew its position in Community Bank System by 12.9% during the 4th quarter. Federated Hermes Inc. now owns 831,387 shares of the bank's stock worth $51,280,000 after purchasing an additional 94,850 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 worth $41,809,000 after acquiring an additional 145,172 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Community Bank System by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,317 shares of the bank's stock worth $40,790,000 after acquiring an additional 8,326 shares during the period. Bank of New York Mellon Corp grew its stake in Community Bank System by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank's stock valued at $34,906,000 after acquiring an additional 34,143 shares in the last quarter. Finally, Norges Bank purchased a new position in Community Bank System during the 4th quarter valued at about $34,779,000. 73.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Community Bank System Stock Performance

Shares of NYSE CBU traded down $0.67 during trading hours on Thursday, hitting $56.59. 21,185 shares of the stock were exchanged, compared to its average volume of 251,986. Community Bank System, Inc. has a one year low of $42.16 and a one year high of $73.39. The company's 50 day moving average is $55.36 and its 200 day moving average is $60.28. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $2.99 billion, a P/E ratio of 16.45 and a beta of 0.79.

Community Bank System (NYSE:CBU - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $196.20 million for the quarter, compared to the consensus estimate of $197.13 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The firm's revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business posted $1.18 earnings per share. On average, research analysts expect that Community Bank System, Inc. will post 4.18 EPS 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. Stockholders of record on Friday, June 13th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, June 13th. 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.