Rafferty Asset Management LLC lessened its holdings in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,831 shares of the bank's stock after selling 8,845 shares during the quarter. Rafferty Asset Management LLC owned 0.09% of Community Bank System worth $2,950,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of CBU. US Bancorp DE lifted its holdings in 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 buying an additional 158 shares during the last quarter. 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 buying an additional 702 shares during the last quarter. Principal Securities Inc. lifted its holdings 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 buying an additional 214 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Community Bank System during the 4th quarter worth approximately $125,000. Finally, Assetmark Inc. bought a new position in Community Bank System during the 4th quarter worth approximately $127,000. Institutional investors and hedge funds own 73.79% of the company's stock.
Analysts Set New Price Targets
Separately, Wall Street Zen raised Community Bank System from a "sell" rating to a "hold" rating in a report on Friday, May 16th.
Read Our Latest Stock Analysis on CBU
Community Bank System Stock Performance
Shares of NYSE CBU traded down $0.40 during mid-day trading on Friday, hitting $55.63. The company had a trading volume of 155,100 shares, compared to its average volume of 258,919. The stock 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. 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's 50 day simple moving average is $55.44 and its two-hundred day simple moving average is $61.31.
Community Bank System (NYSE:CBU - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $196.20 million for the quarter, compared to the consensus estimate of $197.13 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The business's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. As a group, equities research analysts forecast that Community Bank System, Inc. will post 4.18 earnings per share for the current year.
Community Bank System Dividend Announcement
The firm also recently announced 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 annualized dividend and a yield of 3.31%. The ex-dividend date is Friday, June 13th. Community Bank System's payout ratio is currently 50.97%.
About Community Bank System
(
Free Report)
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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