Rhumbline Advisers Has $8.52 Million Position in Community Bank System, Inc. (NYSE:CBU)

Rhumbline Advisers decreased its position in Community Bank System, Inc. (NYSE:CBU - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 149,888 shares of the bank's stock after selling 7,060 shares during the period. Rhumbline Advisers owned 0.28% of Community Bank System worth $8,523,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CBU. Norges Bank bought a new position in Community Bank System in the fourth quarter valued at about $34,779,000. Deprince Race & Zollo Inc. bought a new position in Community Bank System in the fourth quarter valued at about $32,368,000. JPMorgan Chase & Co. boosted its holdings in Community Bank System by 210.0% in the fourth quarter. JPMorgan Chase & Co. now owns 348,405 shares of the bank's stock valued at $21,490,000 after acquiring an additional 236,028 shares during the last quarter. Northern Trust Corp boosted its holdings in Community Bank System by 27.3% in the fourth quarter. Northern Trust Corp now owns 677,841 shares of the bank's stock valued at $41,809,000 after acquiring an additional 145,172 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Community Bank System by 12.9% in the fourth quarter. Federated Hermes Inc. now owns 831,387 shares of the bank's stock valued at $51,280,000 after acquiring an additional 94,850 shares during the last quarter. Institutional investors own 73.79% of the company's stock.

Wall Street Analysts Forecast Growth

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

Community Bank System Trading Down 3.7%

CBU traded down $2.13 during midday trading on Friday, reaching $54.99. 170,809 shares of the company were exchanged, compared to its average volume of 252,542. 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, Inc. has a one year low of $42.16 and a one year high of $73.39. The stock has a market capitalization of $2.91 billion, a P/E ratio of 15.98 and a beta of 0.79. The stock's 50-day simple moving average is $55.56 and its 200 day simple moving average is $60.01.

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

Community Bank System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Friday, June 13th. Community Bank System's dividend payout ratio (DPR) is currently 50.97%.

Community Bank System Company 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.