Northern Trust Corp Raises Holdings in Community Bank System, Inc. (NYSE:CBU)

Northern Trust Corp increased its stake in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) by 27.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 677,841 shares of the bank's stock after buying an additional 145,172 shares during the quarter. Northern Trust Corp owned about 1.29% of Community Bank System worth $41,809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in shares of Community Bank System by 12.9% in the fourth quarter. Federated Hermes Inc. now owns 831,387 shares of the bank's stock valued at $51,280,000 after purchasing an additional 94,850 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Community Bank System by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,317 shares of the bank's stock worth $40,790,000 after purchasing an additional 8,326 shares during the period. Bank of New York Mellon Corp raised its stake in Community Bank System by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank's stock worth $34,906,000 after purchasing an additional 34,143 shares during the period. Norges Bank purchased a new position in Community Bank System during the fourth quarter worth about $34,779,000. Finally, JPMorgan Chase & Co. raised its stake in Community Bank System by 210.0% during the fourth quarter. JPMorgan Chase & Co. now owns 348,405 shares of the bank's stock worth $21,490,000 after purchasing an additional 236,028 shares during the period. Institutional investors and hedge funds own 73.79% of the company's stock.

Community Bank System Stock Up 3.1%

Shares of CBU stock traded up $1.73 during trading on Monday, reaching $58.23. The company's stock had a trading volume of 200,948 shares, compared to its average volume of 259,879. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 16.93 and a beta of 0.77. Community Bank System, Inc. has a 1-year low of $42.16 and a 1-year 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 moving average price is $55.52 and its 200 day moving average price is $61.66.

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 the consensus estimate of $0.91 by $0.02. The firm had revenue of $196.20 million during the quarter, compared to analysts' expectations of $197.13 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. Community Bank System's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 EPS. On average, research analysts anticipate that Community Bank System, Inc. will post 4.18 EPS for the current year.

Community Bank System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, June 13th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, June 13th. Community Bank System's payout ratio is currently 50.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com downgraded Community Bank System from a "hold" rating to a "sell" rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their target price on shares of Community Bank System from $74.00 to $76.00 and gave the company a "market perform" rating in a report on Wednesday, January 22nd.

Community Bank System 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.