Envestnet Asset Management Inc. Has $4.64 Million Stake in Community Bank System, Inc. (NYSE:CBU)

Envestnet Asset Management Inc. lifted its position in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,177 shares of the bank's stock after purchasing an additional 10,809 shares during the period. Envestnet Asset Management Inc. owned 0.14% of Community Bank System worth $4,637,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc increased its stake in shares of 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 purchasing an additional 238 shares during the period. US Bancorp DE increased its stake in shares of Community Bank System by 17.1% during the fourth 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. Smartleaf Asset Management LLC increased its stake 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 worth $74,000 after acquiring an additional 702 shares during the period. 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 acquiring an additional 214 shares during the period. Finally, Assetmark Inc. bought a new position in Community Bank System during the 4th quarter worth $127,000. Institutional investors own 73.79% of the company's stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their price objective on Community Bank System from $74.00 to $76.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 22nd.

Community Bank System Price Performance

Community Bank System stock traded up $0.20 during mid-day trading on Monday, reaching $55.43. 203,835 shares of the company were exchanged, compared to its average volume of 259,486. The company has a fifty day simple moving average of $56.80 and a 200-day simple 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 company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $2.93 billion, a PE ratio of 16.11 and a beta of 0.74.

Community Bank System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders 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 dividend yield of 3.32%. Community Bank System's dividend payout ratio (DPR) is currently 53.49%.

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.