Quantedge Capital Pte Ltd Acquires Shares of 28,100 Community Bank System, Inc. (NYSE:CBU)

Quantedge Capital Pte Ltd bought a new position in Community Bank System, Inc. (NYSE:CBU - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 28,100 shares of the bank's stock, valued at approximately $1,733,000. Quantedge Capital Pte Ltd owned approximately 0.05% of Community Bank System at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CBU. Barclays PLC boosted its stake in Community Bank System by 99.0% in the third quarter. Barclays PLC now owns 109,647 shares of the bank's stock worth $6,367,000 after buying an additional 54,554 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Community Bank System by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 112,377 shares of the bank's stock worth $6,526,000 after buying an additional 1,587 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Community Bank System by 6.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 52,767 shares of the bank's stock worth $3,064,000 after buying an additional 3,085 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in 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 worth $8,932,000 after buying an additional 126,700 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new stake in Community Bank System in the fourth quarter valued at approximately $226,000. Hedge funds and other institutional investors own 73.79% of the company's stock.

Community Bank System Trading Down 0.5%

CBU stock traded down $0.31 during midday trading on Monday, hitting $57.76. The company had a trading volume of 159,765 shares, compared to its average volume of 234,842. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 16.79 and a beta of 0.77. The stock's 50 day moving average price is $55.47 and its 200 day moving average price is $61.58. Community Bank System, Inc. has a 52 week low of $42.16 and a 52 week high of $73.39.

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

Community Bank System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, June 13th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Friday, June 13th. Community Bank System's dividend payout ratio is currently 50.97%.

Analysts Set New Price Targets

Several analysts have weighed in on CBU shares. StockNews.com upgraded Community Bank System from a "sell" rating to a "hold" rating in a research report on Friday. Keefe, Bruyette & Woods boosted their price objective 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.

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.