Nuveen Asset Management LLC Decreases Stock Holdings in Community Bank System, Inc. (NYSE:CBU)

Nuveen Asset Management LLC lowered its position in Community Bank System, Inc. (NYSE:CBU) by 37.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 238,491 shares of the bank’s stock after selling 140,460 shares during the quarter. Nuveen Asset Management LLC owned about 0.45% of Community Bank System worth $14,710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. raised its stake in shares of Community Bank System by 12.9% in the fourth quarter. Federated Hermes Inc. now owns 831,387 shares of the bank’s stock valued at $51,280,000 after acquiring an additional 94,850 shares during the period. Northern Trust Corp raised its stake in shares of Community Bank System by 27.3% in the fourth quarter. Northern Trust Corp now owns 677,841 shares of the bank’s stock valued at $41,809,000 after acquiring an additional 145,172 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Community Bank System by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,317 shares of the bank’s stock valued at $40,790,000 after acquiring an additional 8,326 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Community Bank System by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank’s stock valued at $34,906,000 after acquiring an additional 34,143 shares during the period. Finally, Norges Bank purchased a new stake in shares of Community Bank System in the fourth quarter valued at $34,779,000. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Community Bank System from a “sell” rating to a “hold” rating in a research note on Friday, May 16th.

Community Bank System Trading Down 0.7%

CBU stock opened at $55.63 on Monday. The company has a market capitalization of $2.94 billion, a PE ratio of 16.17 and a beta of 0.77. Community Bank System, Inc. has a 12 month low of $42.16 and a 12 month high of $73.39. The firm’s 50-day moving average is $55.44 and its 200 day moving average is $61.31. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76.

Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Tuesday, April 29th. The bank reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $196.20 million for the quarter, compared to the consensus estimate of $197.13 million. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.18 EPS. On average, research analysts anticipate that Community Bank System, Inc. will post 4.18 EPS for the current year.

Community Bank System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 13th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.31%. The ex-dividend date is Friday, June 13th. Community Bank System’s dividend payout ratio is presently 50.97%.

Community Bank System 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.