Quantedge Capital Pte Ltd Purchases New Shares in Community Bank System, Inc. (NYSE:CBU)

Quantedge Capital Pte Ltd purchased a new position in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 28,100 shares of the bank's stock, valued at approximately $1,733,000. Quantedge Capital Pte Ltd owned 0.05% of Community Bank System as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its stake 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 valued at $6,367,000 after purchasing an additional 54,554 shares during the period. Principal Financial Group Inc. boosted its stake in Community Bank System by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 254,869 shares of the bank's stock worth $15,720,000 after purchasing an additional 7,160 shares during the period. Raymond James Financial Inc. bought a new position in shares of Community Bank System in the fourth quarter worth $687,000. Sei Investments Co. raised its position in shares of Community Bank System by 264.8% during the 4th quarter. Sei Investments Co. now owns 33,239 shares of the bank's stock valued at $2,050,000 after buying an additional 24,127 shares in the last quarter. Finally, Norges Bank bought a new stake in Community Bank System in the 4th quarter worth approximately $34,779,000. 73.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CBU has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upped 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. StockNews.com upgraded Community Bank System from a "sell" rating to a "hold" rating in a research note on Friday.

Community Bank System Stock Up 0.7%

Community Bank System stock traded up $0.39 during midday trading on Tuesday, reaching $58.20. The company's stock had a trading volume of 32,290 shares, compared to its average volume of 232,702. The stock has a market capitalization of $3.08 billion, a P/E ratio of 16.92 and a beta of 0.77. Community Bank System, Inc. has a 52-week low of $42.16 and a 52-week high of $73.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The stock's 50-day simple moving average is $55.49 and its 200-day simple moving average is $61.56.

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

Community Bank System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders 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 dividend on an annualized basis and a yield of 3.16%. Community Bank System's dividend payout ratio (DPR) is presently 50.97%.

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.