Assenagon Asset Management S.A. Has $8.93 Million Position in Community Bank System, Inc. (NYSE:CBU)

Assenagon Asset Management S.A. raised its stake in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) by 699.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144,817 shares of the bank's stock after buying an additional 126,700 shares during the period. Assenagon Asset Management S.A. owned approximately 0.28% of Community Bank System worth $8,932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Versant Capital Management Inc lifted its holdings in shares of Community Bank System by 99.2% in the fourth quarter. Versant Capital Management Inc now owns 478 shares of the bank's stock valued at $29,000 after buying an additional 238 shares during the period. Point72 DIFC Ltd acquired a new stake in Community Bank System in the 2nd quarter valued at about $76,000. KBC Group NV boosted its position in shares of Community Bank System by 23.6% during the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank's stock valued at $105,000 after purchasing an additional 347 shares in the last quarter. Stone House Investment Management LLC grew its stake in shares of Community Bank System by 51.0% in the 3rd quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank's stock worth $137,000 after purchasing an additional 797 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in shares of Community Bank System by 27.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank's stock worth $162,000 after purchasing an additional 741 shares during the last quarter. 73.79% of the stock is currently owned by institutional investors.

Community Bank System Trading Up 1.0 %

Shares of NYSE:CBU traded up $0.61 during mid-day trading on Monday, hitting $63.21. The stock had a trading volume of 301,625 shares, compared to its average volume of 208,280. Community Bank System, Inc. has a 12-month low of $41.50 and a 12-month high of $73.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $3.32 billion, a PE ratio of 19.69 and a beta of 0.67. The company's 50 day moving average is $65.46 and its 200-day moving average is $60.98.

Community Bank System (NYSE:CBU - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.83 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.05). The business had revenue of $188.94 million during the quarter, compared to analyst estimates of $186.35 million. Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $0.82 EPS. On average, sell-side analysts predict that Community Bank System, Inc. will post 3.39 EPS for the current year.

Community Bank System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 14th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, March 14th. Community Bank System's dividend payout ratio (DPR) is 57.32%.

Insider Buying and Selling

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $73.10, for a total value of $287,794.70. Following the completion of the sale, the director now directly owns 5,823 shares of the company's stock, valued at $425,661.30. The trade was a 40.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CBU has been the subject of a number of research reports. Raymond James upgraded shares of Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 target price for the company in a report on Monday, October 28th. Keefe, Bruyette & Woods raised their price objective on Community Bank System from $64.00 to $74.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Finally, Piper Sandler assumed coverage on Community Bank System in a research report on Thursday, December 5th. They set a "neutral" rating and a $70.00 target price on the stock.

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.