Community Bank System, Inc. (NYSE:CBU) Shares Sold by Marshall Wace LLP

Marshall Wace LLP reduced its stake in Community Bank System, Inc. (NYSE:CBU - Free Report) by 56.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,800 shares of the bank's stock after selling 7,670 shares during the quarter. Marshall Wace LLP's holdings in Community Bank System were worth $358,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. US Bancorp DE lifted its stake in shares of Community Bank System by 17.1% during the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank's stock worth $67,000 after purchasing an additional 158 shares during the period. Principal Securities Inc. lifted its position in Community Bank System by 13.7% during the fourth 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. Versant Capital Management Inc lifted its position in Community Bank System by 99.2% during the fourth quarter. Versant Capital Management Inc now owns 478 shares of the bank's stock worth $29,000 after buying an additional 238 shares during the period. Bank of Montreal Can boosted its stake in Community Bank System by 2.9% in the 4th quarter. Bank of Montreal Can now owns 9,140 shares of the bank's stock worth $564,000 after buying an additional 255 shares during the last quarter. Finally, Corient Private Wealth LLC grew its holdings in Community Bank System by 4.0% in the 4th quarter. Corient Private Wealth LLC now owns 8,526 shares of the bank's stock valued at $526,000 after buying an additional 327 shares during the period. Institutional investors and hedge funds own 73.79% of the company's stock.

Community Bank System Stock Up 3.4 %

Shares of NYSE:CBU opened at $56.95 on Monday. The stock has a 50-day simple moving average of $56.18 and a 200-day simple moving average of $61.75. The stock has a market capitalization of $3.01 billion, a P/E ratio of 16.56 and a beta of 0.74. 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 quick ratio of 0.76 and a current ratio of 0.76.

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

Community Bank System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, June 13th. Community Bank System's dividend payout ratio is presently 50.97%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CBU shares. Keefe, Bruyette & Woods increased their price objective on shares of 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 raised shares of Community Bank System from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th.

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.

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