California Public Employees Retirement System Has $5.62 Million Holdings in Community Bank System, Inc. (NYSE:CBU)

California Public Employees Retirement System reduced its holdings in Community Bank System, Inc. (NYSE:CBU - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,180 shares of the bank's stock after selling 10,962 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Community Bank System worth $5,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Community Bank System in the 4th quarter valued at approximately $34,779,000. JPMorgan Chase & Co. raised its holdings in Community Bank System by 210.0% during the fourth quarter. JPMorgan Chase & Co. now owns 348,405 shares of the bank's stock worth $21,490,000 after purchasing an additional 236,028 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Community Bank System by 699.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank's stock worth $8,932,000 after purchasing an additional 126,700 shares during the last quarter. Jane Street Group LLC increased its position in Community Bank System by 151.8% during the third quarter. Jane Street Group LLC now owns 127,227 shares of the bank's stock worth $7,388,000 after buying an additional 76,703 shares during the period. Finally, Barclays PLC grew its position in Community Bank System by 99.0% during the 3rd quarter. Barclays PLC now owns 109,647 shares of the bank's stock worth $6,367,000 after purchasing an additional 54,554 shares during the last quarter. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

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Community Bank System Stock Down 0.2 %

Shares of NYSE CBU traded down $0.08 during trading on Friday, reaching $51.39. 271,179 shares of the stock were exchanged, compared to its average volume of 260,867. The business's 50-day moving average price is $59.45 and its 200 day moving average price is $62.18. Community Bank System, Inc. has a twelve month low of $41.50 and a twelve month high of $73.39. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 14.94 and a beta of 0.74. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42.

Community Bank System (NYSE:CBU - Get Free Report) last issued its earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.04. The firm had revenue of $196.30 million for the quarter, compared to analysts' expectations of $190.95 million. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. Community Bank System's revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $0.76 earnings per share. As a group, equities analysts forecast that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Friday, March 14th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.58%. Community Bank System's dividend payout ratio is currently 53.49%.

Insider Transactions at Community Bank System

In related news, SVP Jeffrey M. Levy sold 1,136 shares of the company's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $65.98, for a total transaction of $74,953.28. Following the completion of the sale, the senior vice president now directly owns 6,539 shares of the company's stock, valued at approximately $431,443.22. This represents a 14.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price target on shares of Community Bank System from $74.00 to $76.00 and gave the stock a "market perform" rating in a report on Wednesday, January 22nd.

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.