Community Bank System, Inc. (NYSE:CBU) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its position in Community Bank System, Inc. (NYSE:CBU - Free Report) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,202,188 shares of the bank's stock after selling 6,671 shares during the quarter. Geode Capital Management LLC owned approximately 2.29% of Community Bank System worth $74,169,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. FMR LLC raised its stake in shares of Community Bank System by 21.2% during the 3rd quarter. FMR LLC now owns 61,439 shares of the bank's stock worth $3,568,000 after acquiring an additional 10,727 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Community Bank System by 3.7% in the 3rd quarter. Stifel Financial Corp now owns 30,751 shares of the bank's stock worth $1,786,000 after purchasing an additional 1,085 shares in the last quarter. Jane Street Group LLC grew its stake in Community Bank System by 151.8% during the 3rd quarter. Jane Street Group LLC now owns 127,227 shares of the bank's stock worth $7,388,000 after buying an additional 76,703 shares during the last quarter. MML Investors Services LLC increased its position in Community Bank System by 8.4% during the 3rd quarter. MML Investors Services LLC now owns 12,641 shares of the bank's stock valued at $734,000 after buying an additional 979 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Community Bank System in the third quarter worth about $451,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Jeffrey M. Levy sold 1,136 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $65.98, for a total value of $74,953.28. Following the sale, the senior vice president now owns 6,539 shares in the company, valued at $431,443.22. This represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.89% of the stock is currently owned by insiders.

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Community Bank System Stock Performance

Shares of NYSE CBU traded up $0.73 during mid-day trading on Tuesday, hitting $52.98. The stock had a trading volume of 191,908 shares, compared to its average volume of 261,111. The firm has a market cap of $2.80 billion, a PE ratio of 15.40 and a beta of 0.74. 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 company has a 50 day moving average of $59.16 and a two-hundred day moving average of $62.18. Community Bank System, Inc. has a twelve month low of $41.50 and a twelve month high of $73.39.

Community Bank System (NYSE:CBU - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.04. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The business had revenue of $196.30 million for the quarter, compared to analyst estimates of $190.95 million. During the same period in the prior year, the company earned $0.76 earnings per share. The company's revenue was up 10.8% on a year-over-year basis. Research analysts predict that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Friday, March 14th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Friday, March 14th. Community Bank System's dividend payout ratio is presently 53.49%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Community Bank System from $74.00 to $76.00 and gave the company a "market perform" rating in a research report on Wednesday, January 22nd.

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.