Community Bank System, Inc. (NYSE:CBU) Shares Purchased by Northern Trust Corp

Northern Trust Corp increased its position 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 13F filing with the SEC. The firm 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 quarter.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its stake in Community Bank System by 99.0% during 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 period. Principal Financial Group Inc. raised its stake 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 purchasing an additional 7,160 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Community Bank System in the fourth quarter worth approximately $687,000. Sei Investments Co. grew its holdings in shares of Community Bank System by 264.8% in the fourth quarter. Sei Investments Co. now owns 33,239 shares of the bank's stock valued at $2,050,000 after acquiring an additional 24,127 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Community Bank System in the fourth quarter valued at approximately $34,779,000. 73.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target 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 cut Community Bank System from a "hold" rating to a "sell" rating in a research report on Thursday, May 8th.

Community Bank System Trading Up 0.4%

Shares of Community Bank System stock traded up $0.22 on Wednesday, hitting $58.00. 31,755 shares of the company traded hands, compared to its average volume of 259,035. The company has a market cap of $3.06 billion, a PE ratio of 16.86 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 current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The stock's 50 day moving average price is $55.45 and its 200-day moving average price is $61.65.

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

Community Bank System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders 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 dividend yield of 3.17%. The ex-dividend date is Friday, June 13th. Community Bank System's payout ratio is presently 50.97%.

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.