Ameriprise Financial Inc. Trims Stock Position in Community Bank System, Inc. (NYSE:CBU)

Ameriprise Financial Inc. lessened its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 12.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 165,453 shares of the bank’s stock after selling 24,343 shares during the period. Ameriprise Financial Inc. owned about 0.31% of Community Bank System worth $10,209,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CBU. Algert Global LLC grew its holdings in Community Bank System by 7.5% during the 4th quarter. Algert Global LLC now owns 68,978 shares of the bank’s stock worth $4,255,000 after acquiring an additional 4,785 shares in the last quarter. Gallagher Fiduciary Advisors LLC boosted its stake in shares of Community Bank System by 17.9% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 8,496 shares of the bank’s stock valued at $524,000 after purchasing an additional 1,288 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Community Bank System by 27.3% during the fourth quarter. Northern Trust Corp now owns 677,841 shares of the bank’s stock valued at $41,809,000 after purchasing an additional 145,172 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Community Bank System during the fourth quarter valued at approximately $2,040,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Community Bank System in the fourth quarter worth approximately $205,000. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Analyst Upgrades and Downgrades

CBU has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a report on Wednesday, January 22nd. StockNews.com raised shares of Community Bank System from a “sell” rating to a “hold” rating in a report on Friday.

Community Bank System Price Performance

Shares of NYSE CBU opened at $57.76 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $3.05 billion, a PE ratio of 16.79 and a beta of 0.77. The business has a 50-day simple moving average of $55.49 and a two-hundred day simple moving average of $61.56. Community Bank System, Inc. has a fifty-two week low of $42.16 and a fifty-two week high of $73.39.

Community Bank System (NYSE:CBU) last released its earnings results on Tuesday, April 29th. The bank reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The company had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $197.13 million. During the same period last year, the business earned $1.18 EPS. Community Bank System’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities analysts expect that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, June 13th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.84 dividend on an annualized basis and a yield of 3.19%. Community Bank System’s dividend payout ratio is currently 50.97%.

Community Bank System Company Profile

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.