NFJ Investment Group LLC Lowers Holdings in Community Bank System, Inc. (NYSE:CBU)

NFJ Investment Group LLC cut its position in Community Bank System, Inc. (NYSE:CBU - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 130,626 shares of the bank's stock after selling 10,116 shares during the period. NFJ Investment Group LLC owned about 0.25% of Community Bank System worth $8,057,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CBU. Versant Capital Management Inc increased its holdings in shares of Community Bank System by 99.2% during the 4th quarter. Versant Capital Management Inc now owns 478 shares of the bank's stock worth $29,000 after acquiring an additional 238 shares during the last quarter. US Bancorp DE grew its position in Community Bank System by 17.1% during the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank's stock worth $67,000 after acquiring an additional 158 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Community Bank System by 140.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank's stock worth $74,000 after acquiring an additional 702 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of Community Bank System by 13.7% during the fourth quarter. Principal Securities Inc. now owns 1,774 shares of the bank's stock worth $109,000 after purchasing an additional 214 shares during the period. Finally, Assetmark Inc. acquired a new stake in shares of Community Bank System in the fourth quarter valued at about $127,000. 73.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity at Community Bank System

In other news, SVP Jeffrey M. Levy sold 1,136 shares of Community Bank System stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $65.98, for a total value of $74,953.28. Following the completion of the transaction, the senior vice president now owns 6,539 shares of the company's stock, valued at $431,443.22. The trade was a 14.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.01% of the stock is owned by company insiders.

Community Bank System Stock Performance

NYSE CBU traded up $1.17 during trading hours on Tuesday, reaching $53.71. 35,186 shares of the company were exchanged, compared to its average volume of 237,775. The stock has a market capitalization of $2.84 billion, a P/E ratio of 15.61 and a beta of 0.74. The business's 50 day simple moving average is $57.81 and its 200-day simple moving average is $62.03. 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, Inc. has a 1 year low of $42.16 and a 1 year high of $73.39.

Community Bank System (NYSE:CBU - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 10.94% and a net margin of 19.40%. The company's revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 EPS. On average, equities research analysts expect that Community Bank System, Inc. will post 4.18 earnings per share for the current year.

Community Bank System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, June 13th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Friday, June 13th. Community Bank System's dividend payout ratio (DPR) is presently 53.49%.

About Community Bank System

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.