Canada Pension Plan Investment Board Takes Position in Community Bank System, Inc. (NYSE:CBU)

Canada Pension Plan Investment Board bought a new stake in 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 bought 25,200 shares of the bank's stock, valued at approximately $1,554,000.

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

Community Bank System Stock Down 3.2 %

NYSE CBU traded down $1.76 during trading hours on Tuesday, reaching $53.90. 69,840 shares of the company traded hands, compared to its average volume of 258,782. 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 company has a 50 day moving average of $56.80 and a two-hundred day moving average of $61.93. Community Bank System, Inc. has a 12 month low of $42.16 and a 12 month high of $73.39. The stock has a market capitalization of $2.85 billion, a PE ratio of 15.66 and a beta of 0.74.

Community Bank System (NYSE:CBU - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The bank reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.07. The business had revenue of $196.20 million for the quarter, compared to analyst estimates of $197.13 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The business's revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 EPS. As a group, equities analysts expect that Community Bank System, Inc. will post 4.18 earnings per share for the current year.

Community Bank System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 13th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, June 13th. Community Bank System's dividend payout ratio is presently 53.49%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their target price on 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.

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.