Amalgamated Bank lifted its position in shares of Community Bank System, Inc. (NYSE:CBU) by 14.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,705 shares of the bank’s stock after purchasing an additional 865 shares during the quarter. Amalgamated Bank’s holdings in Community Bank System were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Community Bank System by 11.2% during the 2nd quarter. BlackRock Inc. now owns 6,034,186 shares of the bank’s stock worth $336,527,000 after purchasing an additional 609,319 shares in the last quarter. Vanguard Group Inc. boosted its stake in Community Bank System by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 4,454,873 shares of the bank’s stock valued at $244,929,000 after buying an additional 307,784 shares in the last quarter. State Street Corp boosted its stake in Community Bank System by 157.8% in the 1st quarter. State Street Corp now owns 2,960,896 shares of the bank’s stock valued at $162,779,000 after buying an additional 1,812,259 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Community Bank System by 2.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 784,797 shares of the bank’s stock valued at $43,771,000 after buying an additional 19,731 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Community Bank System by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 716,440 shares of the bank’s stock valued at $39,955,000 after buying an additional 51,841 shares in the last quarter. 68.98% of the stock is currently owned by institutional investors.

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In other Community Bank System news, Director Brian R. Ace sold 5,457 shares of Community Bank System stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $53.35, for a total transaction of $291,130.95. Following the completion of the transaction, the director now owns 55,647 shares in the company, valued at approximately $2,968,767.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Stickels sold 5,000 shares of Community Bank System stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $53.24, for a total value of $266,200.00. Following the transaction, the director now owns 11,345 shares of the company’s stock, valued at approximately $604,007.80. The disclosure for this sale can be found here. Insiders have sold a total of 20,457 shares of company stock valued at $1,085,081 in the last quarter. Company insiders own 3.20% of the company’s stock.

Several brokerages recently commented on CBU. Zacks Investment Research lowered Community Bank System from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub lowered Community Bank System from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $51.00 price target on shares of Community Bank System in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Community Bank System in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $54.80.

Shares of Community Bank System, Inc. (NYSE CBU) opened at 55.87 on Friday. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 26.72 and a beta of 1.10. Community Bank System, Inc. has a 52 week low of $42.67 and a 52 week high of $63.04. The company has a 50-day moving average price of $52.58 and a 200 day moving average price of $54.40.

Community Bank System (NYSE:CBU) last released its quarterly earnings results on Monday, July 31st. The bank reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.13. The business had revenue of $129.26 million during the quarter, compared to the consensus estimate of $127.00 million. Community Bank System had a return on equity of 9.04% and a net margin of 20.63%. The company’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 EPS. Analysts expect that Community Bank System, Inc. will post $2.57 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.36 dividend on an annualized basis and a yield of 2.43%. This is an increase from Community Bank System’s previous quarterly dividend of $0.32. Community Bank System’s payout ratio is 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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