Northwestern Mutual Wealth Management Co. Boosts Holdings in Community Bank System, Inc. (NYSE:CBU)

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Community Bank System, Inc. (NYSE:CBUGet Rating) by 100.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,590 shares of the bank’s stock after purchasing an additional 1,800 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Community Bank System were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings 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 in the last quarter. Vanguard Group Inc. grew its holdings in Community Bank System by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 6,382,421 shares of the bank’s stock valued at $447,727,000 after buying an additional 51,693 shares in the last quarter. State Street Corp increased its stake in shares of Community Bank System by 14.8% in the 1st quarter. State Street Corp now owns 5,037,367 shares of the bank’s stock worth $355,486,000 after acquiring an additional 647,871 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Community Bank System by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,173,356 shares of the bank’s stock worth $82,312,000 after acquiring an additional 42,368 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Community Bank System by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 469,990 shares of the bank’s stock valued at $32,970,000 after acquiring an additional 15,734 shares during the last quarter. Institutional investors and hedge funds own 70.13% of the company’s stock.

Analysts Set New Price Targets

CBU has been the subject of several recent analyst reports. DA Davidson cut their price objective on shares of Community Bank System to $59.00 in a research report on Thursday, October 27th. StockNews.com began coverage on Community Bank System in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Hovde Group cut their target price on Community Bank System to $67.00 in a research note on Thursday, October 27th.

Community Bank System Price Performance

Community Bank System stock opened at $62.32 on Thursday. The company’s 50 day simple moving average is $62.76 and its 200-day simple moving average is $64.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.61 and a current ratio of 0.64. Community Bank System, Inc. has a 1 year low of $59.21 and a 1 year high of $78.00. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 18.94 and a beta of 0.67.

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.

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

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