Principal Financial Group Inc. Decreases Holdings in Community Bank System, Inc. (NYSE:CBU)

Principal Financial Group Inc. lowered its stake in Community Bank System, Inc. (NYSE:CBU - Free Report) by 4.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,709 shares of the bank's stock after selling 12,553 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Community Bank System worth $14,384,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Community Bank System by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,770,648 shares of the bank's stock worth $83,588,000 after acquiring an additional 142,909 shares during the period. Federated Hermes Inc. increased its stake in shares of Community Bank System by 6.8% in the second quarter. Federated Hermes Inc. now owns 691,879 shares of the bank's stock worth $32,664,000 after purchasing an additional 44,137 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Community Bank System by 164.9% during the 2nd quarter. Victory Capital Management Inc. now owns 213,167 shares of the bank's stock valued at $10,064,000 after purchasing an additional 132,697 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Community Bank System by 152.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank's stock valued at $8,611,000 after buying an additional 110,288 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in Community Bank System by 6.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 116,116 shares of the bank's stock worth $5,482,000 after buying an additional 6,812 shares during the period. 73.79% of the stock is owned by hedge funds and other institutional investors.

Community Bank System Stock Performance

Shares of NYSE CBU opened at $69.07 on Friday. The company has a market cap of $3.63 billion, a P/E ratio of 21.52 and a beta of 0.62. Community Bank System, Inc. has a 52-week low of $41.50 and a 52-week high of $72.29. 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 firm's fifty day moving average is $60.50 and its two-hundred day moving average is $54.80.

Community Bank System (NYSE:CBU - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.05). Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The firm had revenue of $188.94 million during the quarter, compared to the consensus estimate of $186.35 million. During the same period last year, the firm posted $0.82 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that Community Bank System, Inc. will post 3.37 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.84 annualized dividend and a dividend yield of 2.66%. Community Bank System's dividend payout ratio (DPR) is 57.32%.

Wall Street Analyst Weigh In

CBU has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $59.00 price target on shares of Community Bank System in a report on Tuesday, September 10th. Raymond James upgraded 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 research report on Monday, October 28th.

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.