Norges Bank Invests $30.87 Million in Community Bank System, Inc. (NYSE:CBU)

Norges Bank bought a new position in Community Bank System, Inc. (NYSE:CBUFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 592,392 shares of the bank’s stock, valued at approximately $30,870,000. Norges Bank owned approximately 1.11% of Community Bank System at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Fulton Bank N.A. increased its position in shares of Community Bank System by 11.6% in the fourth quarter. Fulton Bank N.A. now owns 5,859 shares of the bank’s stock worth $305,000 after acquiring an additional 607 shares in the last quarter. AlphaMark Advisors LLC increased its position in shares of Community Bank System by 13.0% in the fourth quarter. AlphaMark Advisors LLC now owns 5,722 shares of the bank’s stock worth $298,000 after acquiring an additional 657 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Community Bank System by 0.6% during the third quarter. Swiss National Bank now owns 118,100 shares of the bank’s stock worth $4,985,000 after purchasing an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Community Bank System by 3.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,978 shares of the bank’s stock worth $1,249,000 after purchasing an additional 761 shares during the period. Finally, Strs Ohio boosted its holdings in shares of Community Bank System by 900.0% during the fourth quarter. Strs Ohio now owns 1,000 shares of the bank’s stock worth $52,000 after purchasing an additional 900 shares during the period. 73.79% of the stock is owned by hedge funds and other institutional investors.

Community Bank System Stock Performance

CBU stock opened at $45.45 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market cap of $2.40 billion, a P/E ratio of 14.29 and a beta of 0.66. The firm has a 50 day simple moving average of $45.69 and a 200 day simple moving average of $46.79. Community Bank System, Inc. has a 52 week low of $35.38 and a 52 week high of $55.64.

Community Bank System (NYSE:CBUGet Free Report) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The firm had revenue of $178.29 million during the quarter, compared to analysts’ expectations of $178.97 million. Community Bank System had a net margin of 16.59% and a return on equity of 8.93%. Research analysts anticipate that Community Bank System, Inc. will post 3.21 earnings per share for the current fiscal year.

Community Bank System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Friday, June 14th. Community Bank System’s dividend payout ratio (DPR) is presently 56.60%.

Analysts Set New Price Targets

Separately, DA Davidson restated a “neutral” rating and set a $50.00 price target on shares of Community Bank System in a report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $47.67.

Read Our Latest Stock Report on CBU

Community Bank System Company Profile

(Free Report)

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.

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

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