Ameriprise Financial Inc. Sells 24,343 Shares of Community Bank System, Inc. (NYSE:CBU)

Ameriprise Financial Inc. decreased its stake in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) by 12.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,453 shares of the bank's stock after selling 24,343 shares during the period. Ameriprise Financial Inc. owned about 0.31% of Community Bank System worth $10,209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBU. Federated Hermes Inc. grew its stake in shares of Community Bank System by 12.9% during the 4th 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. Northern Trust Corp boosted its holdings in shares of Community Bank System by 27.3% in the fourth quarter. Northern Trust Corp now owns 677,841 shares of the bank's stock worth $41,809,000 after buying an additional 145,172 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 valued at $40,790,000 after buying an additional 8,326 shares during the period. Bank of New York Mellon Corp increased its holdings 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 valued at $34,906,000 after buying an additional 34,143 shares during the last quarter. Finally, Norges Bank purchased a new stake in Community Bank System during the fourth quarter valued at approximately $34,779,000. Hedge funds and other institutional investors own 73.79% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Community Bank System from a "sell" rating to a "hold" rating in a research report on Friday, May 16th.

Community Bank System Price Performance

Shares of CBU traded down $0.40 during mid-day trading on Friday, reaching $55.63. The stock had a trading volume of 155,100 shares, compared to its average volume of 258,919. The business has a fifty day moving average of $55.44 and a 200 day moving average of $61.31. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 16.17 and a beta of 0.77. Community Bank System, Inc. has a 12 month low of $42.16 and a 12 month high of $73.39.

Community Bank System (NYSE:CBU - Get Free Report) last issued its earnings results on Tuesday, April 29th. The bank reported $0.93 earnings per share 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 the consensus estimate of $197.13 million. During the same quarter in the prior year, the firm posted $1.18 EPS. Community Bank System's quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts predict that Community Bank System, Inc. will post 4.18 EPS for the current year.

Community Bank System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, June 13th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, June 13th. Community Bank System's dividend payout ratio (DPR) is 50.97%.

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.