KLP Kapitalforvaltning AS Takes Position in Community Bank System, Inc. (NYSE:CBU)

KLP Kapitalforvaltning AS bought a new position in Community Bank System, Inc. (NYSE:CBU - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 10,900 shares of the bank's stock, valued at approximately $676,000.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its stake in shares of Community Bank System by 699.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank's stock valued at $8,932,000 after buying an additional 126,700 shares during the period. Jane Street Group LLC raised its stake in shares of Community Bank System by 151.8% during the third quarter. Jane Street Group LLC now owns 127,227 shares of the bank's stock valued at $7,388,000 after acquiring an additional 76,703 shares during the last quarter. Barclays PLC lifted its holdings in shares of Community Bank System by 99.0% during the third 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 period. Bank of New York Mellon Corp grew 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 worth $34,906,000 after purchasing an additional 34,143 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Community Bank System by 264.8% in the fourth quarter. Sei Investments Co. now owns 33,239 shares of the bank's stock valued at $2,050,000 after purchasing an additional 24,127 shares during the period. 73.79% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Community Bank System

In other news, SVP Jeffrey M. Levy sold 1,136 shares of Community Bank System stock in a transaction on Friday, January 24th. The shares were sold at an average price of $65.98, for a total value of $74,953.28. Following the completion of the sale, the senior vice president now owns 6,539 shares in the company, valued at $431,443.22. The trade was a 14.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.89% of the company's stock.

Community Bank System Trading Down 3.5 %

Community Bank System stock traded down $1.86 during mid-day trading on Friday, hitting $51.42. 410,064 shares of the stock were exchanged, compared to its average volume of 258,716. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 14.95 and a beta of 0.74. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month high of $73.39. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The firm's fifty day simple moving average is $61.34 and its two-hundred day simple moving average is $62.55.

Community Bank System (NYSE:CBU - Get Free Report) last released its earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The business had revenue of $196.30 million for the quarter, compared to analyst estimates of $190.95 million. During the same quarter in the previous year, the business earned $0.76 earnings per share. Community Bank System's revenue for the quarter was up 10.8% on a year-over-year basis. Analysts forecast that Community Bank System, Inc. will post 4.18 EPS for the current year.

Community Bank System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be issued a $0.46 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a yield of 3.58%. Community Bank System's payout ratio is currently 53.49%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their target price on 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 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.