Pinebridge Investments L.P. boosted its holdings in Community Bank System, Inc. (NYSE:CBU) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,117 shares of the bank’s stock after purchasing an additional 815 shares during the period. Pinebridge Investments L.P. owned about 0.12% of Community Bank System worth $3,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CBU. Bank of Montreal Can grew its position in Community Bank System by 0.6% in the first quarter. Bank of Montreal Can now owns 4,182 shares of the bank’s stock valued at $230,000 after purchasing an additional 25 shares in the last quarter. First Trust Advisors LP grew its position in Community Bank System by 50.2% in the first quarter. First Trust Advisors LP now owns 34,075 shares of the bank’s stock valued at $1,873,000 after purchasing an additional 11,393 shares in the last quarter. Bank of New York Mellon Corp grew its position in Community Bank System by 5.4% in the first quarter. Bank of New York Mellon Corp now owns 664,599 shares of the bank’s stock valued at $36,539,000 after purchasing an additional 34,165 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Community Bank System by 12.1% in the first quarter. BNP Paribas Arbitrage SA now owns 9,206 shares of the bank’s stock valued at $506,000 after purchasing an additional 991 shares in the last quarter. Finally, Comerica Bank grew its position in Community Bank System by 4.7% in the first quarter. Comerica Bank now owns 49,305 shares of the bank’s stock valued at $2,809,000 after purchasing an additional 2,221 shares in the last quarter. 68.98% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on CBU. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $51.00 target price on shares of Community Bank System in a research report on Thursday, August 3rd. BidaskClub raised shares of Community Bank System from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Community Bank System in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research raised shares of Community Bank System from a “hold” rating to a “strong-buy” rating and set a $58.00 target price for the company in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $54.80.

In other news, Director Nicholas A. Dicerbo sold 3,000 shares of the company’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $56.03, for a total value of $168,090.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R Kallet Michael sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. Following the completion of the sale, the director now owns 11,603 shares of the company’s stock, valued at approximately $614,959. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,000 shares of company stock valued at $695,840. Company insiders own 3.20% of the company’s stock.

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Shares of Community Bank System, Inc. (CBU) opened at 52.70 on Friday. Community Bank System, Inc. has a 52 week low of $42.67 and a 52 week high of $63.04. The firm has a market cap of $2.66 billion, a PE ratio of 25.20 and a beta of 1.09. The firm has a 50-day moving average of $52.40 and a 200-day moving average of $54.63.

Community Bank System (NYSE:CBU) last posted its earnings results on Monday, July 31st. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.13. Community Bank System had a net margin of 20.63% and a return on equity of 9.04%. The firm had revenue of $129.26 million during the quarter, compared to analyst estimates of $127.00 million. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue was up 20.7% compared to the same quarter last year. On average, analysts expect that Community Bank System, Inc. will post $2.57 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 15th will be paid a $0.34 dividend. This is a positive change from Community Bank System’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.36 annualized dividend and a dividend yield of 2.57%. Community Bank System’s dividend payout ratio is presently 64.15%.

About Community Bank System

Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.

Institutional Ownership by Quarter for Community Bank System (NYSE:CBU)

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