Assenagon Asset Management S.A. Has $1.05 Million Stock Position in Community Bank System, Inc. (NYSE:CBU)

Assenagon Asset Management S.A. reduced its position in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) by 90.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,117 shares of the bank's stock after selling 164,280 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Community Bank System were worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in shares of Community Bank System during the 1st quarter worth about $592,000. SG Americas Securities LLC acquired a new position in shares of Community Bank System during the 1st quarter worth about $583,000. Boston Partners acquired a new position in shares of Community Bank System during the 1st quarter worth about $3,558,000. Tidal Investments LLC grew its position in shares of Community Bank System by 239.1% during the 1st quarter. Tidal Investments LLC now owns 17,257 shares of the bank's stock worth $829,000 after buying an additional 12,168 shares during the period. Finally, Citizens & Northern Corp acquired a new position in shares of Community Bank System during the 2nd quarter worth about $398,000. 73.79% of the stock is owned by institutional investors.

Community Bank System Stock Up 0.2 %

Shares of CBU traded up $0.11 on Friday, hitting $61.25. The company's stock had a trading volume of 286,124 shares, compared to its average volume of 233,033. The company has a quick ratio of 0.76, a current ratio of 0.75 and a debt-to-equity ratio of 0.35. The firm's fifty day moving average price is $59.03 and its 200-day moving average price is $53.22. Community Bank System, Inc. has a fifty-two week low of $40.55 and a fifty-two week high of $63.95. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 19.08 and a beta of 0.62.

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 the consensus estimate 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 business had revenue of $188.94 million during the quarter, compared to analyst estimates of $186.35 million. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Community Bank System's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that Community Bank System, Inc. will post 3.39 EPS for the current year.

Community Bank System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, December 13th. Community Bank System's dividend payout ratio (DPR) is currently 57.32%.

Analysts Set New Price Targets

CBU has been the subject of several analyst reports. 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. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $59.00 price objective on shares of Community Bank System in a research report on Tuesday, September 10th.

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.