NFJ Investment Group LLC Has $8.17 Million Stock Position in Community Bank System, Inc. (NYSE:CBU)

NFJ Investment Group LLC lowered its position in Community Bank System, Inc. (NYSE:CBU - Free Report) by 6.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 140,742 shares of the bank's stock after selling 9,107 shares during the period. NFJ Investment Group LLC owned 0.27% of Community Bank System worth $8,173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System grew its holdings in Community Bank System by 0.8% during the second quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the bank's stock valued at $1,256,000 after purchasing an additional 200 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Community Bank System by 4.5% in the second quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank's stock worth $231,000 after acquiring an additional 212 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Community Bank System by 1.8% in the second quarter. Arizona State Retirement System now owns 14,930 shares of the bank's stock worth $705,000 after acquiring an additional 258 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Community Bank System by 6.2% in the second quarter. CIBC Asset Management Inc now owns 5,235 shares of the bank's stock worth $247,000 after acquiring an additional 307 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Community Bank System by 23.6% in the third quarter. KBC Group NV now owns 1,816 shares of the bank's stock worth $105,000 after acquiring an additional 347 shares during the last quarter. Institutional investors and hedge funds own 73.79% of the company's stock.

Community Bank System Stock Performance

CBU stock traded up $0.94 during midday trading on Wednesday, hitting $68.95. The stock had a trading volume of 58,044 shares, compared to its average volume of 279,218. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 21.32 and a beta of 0.65. Community Bank System, Inc. has a 52 week low of $41.50 and a 52 week high of $73.39. The stock has a 50-day simple moving average of $63.22 and a 200 day simple moving average of $56.75. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35.

Community Bank System (NYSE:CBU - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.88 by ($0.05). Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The company had revenue of $188.94 million for the quarter, compared to the consensus estimate of $186.35 million. During the same period in the previous year, the business posted $0.82 earnings per share. The firm's revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Community Bank System, Inc. will post 3.38 earnings per share for the current year.

Community Bank System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be issued a $0.46 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.67%. Community Bank System's dividend payout ratio is 57.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Raymond James upgraded shares of Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 price objective on the stock in a research note on Monday, October 28th. Keefe, Bruyette & Woods raised their target price on Community Bank System from $64.00 to $74.00 and gave the stock a "market perform" rating in a research report on Wednesday.

Insider Activity at Community Bank System

In related news, Director John F. Whipple sold 3,937 shares of Community Bank System stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $73.10, for a total value of $287,794.70. Following the completion of the transaction, 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 filing with the SEC, which is available through the SEC website. 1.78% of the stock is currently owned by company insiders.

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.