Nuveen Asset Management LLC Lowers Stock Holdings in Community Bank System, Inc. (NYSE:CBU)

Nuveen Asset Management LLC decreased its holdings in Community Bank System, Inc. (NYSE:CBU - Free Report) by 37.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 238,491 shares of the bank's stock after selling 140,460 shares during the quarter. Nuveen Asset Management LLC owned 0.45% of Community Bank System worth $14,710,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CBU. US Bancorp DE lifted its holdings in Community Bank System by 17.1% in the fourth quarter. US Bancorp DE now owns 1,081 shares of the bank's stock valued at $67,000 after buying an additional 158 shares during the period. Smartleaf Asset Management LLC lifted its holdings 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 purchasing an additional 702 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of 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 purchasing an additional 214 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Community Bank System in the 4th quarter worth about $125,000. Finally, Assetmark Inc. purchased a new position in shares of Community Bank System in the fourth quarter worth about $127,000. Institutional investors own 73.79% of the company's stock.

Community Bank System Stock Down 0.9%

Shares of NYSE:CBU traded down $0.49 during trading on Friday, reaching $56.19. The stock had a trading volume of 16,947 shares, compared to its average volume of 227,830. The firm's 50-day simple moving average is $55.32 and its 200 day simple moving average is $61.05. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. Community Bank System, Inc. has a one year low of $42.16 and a one year high of $73.39. The company has a market capitalization of $2.97 billion, a P/E ratio of 16.33 and a beta of 0.77.

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. 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 for the quarter, compared to analyst estimates of $197.13 million. During the same period in the prior year, the company earned $1.18 earnings per share. The firm's revenue was up 10.7% on a year-over-year basis. As a group, research analysts expect that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 13th will be given a $0.46 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.84 annualized dividend and a yield of 3.27%. Community Bank System's payout ratio is 50.97%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Community Bank System from a "sell" rating to a "hold" rating in a research note on Friday, May 16th.

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.