Comerica Bank Has $2.48 Million Holdings in Community Bank System, Inc. (NYSE:CBU)

Comerica Bank lessened its holdings in shares of Community Bank System, Inc. (NYSE:CBU – Get Rating) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,137 shares of the bank’s stock after selling 4,800 shares during the quarter. Comerica Bank’s holdings in Community Bank System were worth $2,482,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CBU. BlackRock Inc. grew its position in shares of Community Bank System by 0.6% in the first quarter. BlackRock Inc. now owns 7,943,008 shares of the bank’s stock valued at $557,203,000 after purchasing an additional 50,524 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Community Bank System by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,382,421 shares of the bank’s stock valued at $447,727,000 after purchasing an additional 51,693 shares during the last quarter. State Street Corp grew its position in shares of Community Bank System by 11.4% in the second quarter. State Street Corp now owns 5,611,774 shares of the bank’s stock valued at $357,486,000 after purchasing an additional 574,407 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Community Bank System by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,173,356 shares of the bank’s stock valued at $82,312,000 after purchasing an additional 42,368 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Community Bank System by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 469,990 shares of the bank’s stock valued at $32,970,000 after purchasing an additional 15,734 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Community Bank System Stock Down 3.7 %

NYSE CBU opened at $60.54 on Thursday. The business has a fifty day moving average price of $63.04 and a two-hundred day moving average price of $64.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.63. Community Bank System, Inc. has a fifty-two week low of $58.28 and a fifty-two week high of $76.87. The stock has a market capitalization of $3.25 billion, a PE ratio of 18.40 and a beta of 0.67.

Community Bank System (NYSE:CBU – Get Rating) last released its earnings results on Monday, October 24th. The bank reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). Community Bank System had a return on equity of 10.56% and a net margin of 26.44%. The business had revenue of $175.64 million for the quarter, compared to the consensus estimate of $173.18 million. Equities analysts expect that Community Bank System, Inc. will post 3.52 earnings per share for the current fiscal year.

Community Bank System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 10th. Shareholders of record on Thursday, December 15th were issued a dividend of $0.44 per share. The ex-dividend date was Wednesday, December 14th. This represents a $1.76 dividend on an annualized basis and a yield of 2.91%. Community Bank System’s payout ratio is currently 53.50%.

Analysts Set New Price Targets

Several research firms have recently commented on CBU. Raymond James began coverage on Community Bank System in a research report on Tuesday, December 20th. They issued a “market perform” rating on the stock. DA Davidson cut their price target on Community Bank System to $59.00 in a research note on Thursday, October 27th. StockNews.com cut Community Bank System from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Finally, Hovde Group cut their price target on Community Bank System to $67.00 in a research note on Thursday, October 27th.

Community Bank System Profile

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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, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market deposit accounts, as well as time deposits.