Raymond James Financial Inc. Makes New Investment in Community Bank System, Inc. (NYSE:CBU)

Raymond James Financial Inc. bought a new stake in Community Bank System, Inc. (NYSE:CBU - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,134 shares of the bank's stock, valued at approximately $687,000.

Several other institutional investors have also bought and sold shares of CBU. Barclays PLC boosted its holdings in shares of Community Bank System by 99.0% in the 3rd quarter. Barclays PLC now owns 109,647 shares of the bank's stock worth $6,367,000 after buying an additional 54,554 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Community Bank System by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 254,869 shares of the bank's stock worth $15,720,000 after acquiring an additional 7,160 shares during the period. Sei Investments Co. boosted its stake in Community Bank System by 264.8% in the 4th quarter. Sei Investments Co. now owns 33,239 shares of the bank's stock worth $2,050,000 after purchasing an additional 24,127 shares during the period. Norges Bank bought a new stake in Community Bank System during the 4th quarter worth approximately $34,779,000. Finally, Commonwealth Equity Services LLC increased its stake in Community Bank System by 3.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 25,293 shares of the bank's stock worth $1,560,000 after acquiring an additional 750 shares during the last quarter. Institutional investors own 73.79% of the company's stock.

Analysts Set New Price Targets

CBU has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Community Bank System from $74.00 to $76.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 22nd. StockNews.com cut Community Bank System from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th.

Community Bank System Trading Down 0.3%

CBU stock traded down $0.18 during trading on Tuesday, hitting $57.98. 28,167 shares of the company traded hands, compared to its average volume of 235,273. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. Community Bank System, Inc. has a 1 year low of $42.16 and a 1 year high of $73.39. The company has a 50-day moving average of $55.49 and a 200-day moving average of $61.67. The firm has a market capitalization of $3.06 billion, a PE ratio of 16.85 and a beta of 0.77.

Community Bank System (NYSE:CBU - Get Free Report) last posted its earnings results on Tuesday, April 29th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The company had revenue of $196.20 million for the quarter, compared to analysts' expectations of $197.13 million. During the same period last year, the firm earned $1.18 earnings per share. Community Bank System's quarterly revenue was up 10.7% on a year-over-year basis. Analysts predict that Community Bank System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Bank System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.84 annualized dividend and a dividend yield of 3.17%. Community Bank System's payout ratio is presently 50.97%.

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.