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

Victory Capital Management Inc. lessened its holdings in Community Bank System, Inc. (NYSE:CBU - Free Report) by 31.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,028 shares of the bank's stock after selling 67,139 shares during the quarter. Victory Capital Management Inc. owned 0.28% of Community Bank System worth $8,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Atria Investments Inc boosted its stake in shares of Community Bank System by 30.6% during the 3rd quarter. Atria Investments Inc now owns 7,621 shares of the bank's stock worth $443,000 after acquiring an additional 1,787 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Community Bank System by 19.9% during the third quarter. QRG Capital Management Inc. now owns 5,867 shares of the bank's stock worth $341,000 after purchasing an additional 972 shares during the last quarter. Ausbil Investment Management Ltd boosted its position in Community Bank System by 494.7% during the third quarter. Ausbil Investment Management Ltd now owns 30,552 shares of the bank's stock worth $1,774,000 after purchasing an additional 25,415 shares in the last quarter. Fulton Bank N.A. raised its stake in shares of Community Bank System by 9.5% during the 3rd quarter. Fulton Bank N.A. now owns 8,078 shares of the bank's stock worth $469,000 after buying an additional 702 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Community Bank System in the 2nd quarter worth about $76,000. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Community Bank System Trading Up 2.8 %

Shares of CBU stock traded up $1.95 on Friday, reaching $70.86. 213,857 shares of the stock were exchanged, compared to its average volume of 282,451. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.35. The stock has a market cap of $3.72 billion, a P/E ratio of 21.88 and a beta of 0.62. The firm has a 50 day moving average of $61.41 and a two-hundred day moving average of $55.38. Community Bank System, Inc. has a 1-year low of $41.50 and a 1-year high of $72.29.

Community Bank System (NYSE:CBU - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.05). The business had revenue of $188.94 million for the quarter, compared to analyst estimates of $186.35 million. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The business's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 EPS. On average, research analysts anticipate that Community Bank System, Inc. will post 3.38 EPS for the current year.

Community Bank System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Friday, December 13th. Community Bank System's payout ratio is currently 57.32%.

Wall Street Analysts Forecast Growth

CBU has been the topic of several research reports. Raymond James upgraded shares of Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 price target on the stock in a research report on Monday, October 28th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $59.00 target price on shares of Community Bank System in a report on Tuesday, September 10th.

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.