Alliance Wealth Advisors LLC Decreases Stock Position in Community Bank System, Inc. (NYSE:CBU)

Alliance Wealth Advisors LLC decreased its position in shares of Community Bank System, Inc. (NYSE:CBU) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,946 shares of the bank’s stock after selling 1,015 shares during the period. Alliance Wealth Advisors LLC’s holdings in Community Bank System were worth $1,042,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Point72 DIFC Ltd bought a new stake in Community Bank System in the 2nd quarter worth approximately $76,000. Benjamin Edwards Inc. increased its position in Community Bank System by 40.7% in the first quarter. Benjamin Edwards Inc. now owns 2,695 shares of the bank’s stock worth $129,000 after purchasing an additional 780 shares during the last quarter. IFG Advisory LLC purchased a new stake in Community Bank System during the second quarter valued at $212,000. QRG Capital Management Inc. lifted its position in Community Bank System by 4.5% during the second quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank’s stock valued at $231,000 after purchasing an additional 212 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of Community Bank System in the 2nd quarter worth $231,000. 73.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on CBU shares. Raymond James downgraded shares of Community Bank System from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $59.00 price objective on shares of Community Bank System in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $50.50.

Community Bank System Stock Performance

CBU stock opened at $62.54 on Thursday. The business’s fifty day simple moving average is $58.65 and its two-hundred day simple moving average is $51.87. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 19.67 and a beta of 0.64. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.43. Community Bank System, Inc. has a twelve month low of $35.38 and a twelve month high of $63.95.

Community Bank System (NYSE:CBU) last announced its earnings results on Tuesday, July 23rd. The bank reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.14. Community Bank System had a return on equity of 8.94% and a net margin of 15.90%. The company had revenue of $183.80 million for the quarter, compared to analyst estimates of $180.05 million. During the same period in the prior year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts predict that Community Bank System, Inc. will post 3.42 earnings per share for the current year.

Community Bank System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.94%. Community Bank System’s dividend payout ratio is presently 57.86%.

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.