Rafferty Asset Management LLC Cuts Stock Position in Community Bank System, Inc. (NYSE:CBU)

Rafferty Asset Management LLC cut its holdings in Community Bank System, Inc. (NYSE:CBU - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. 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 institutional investors and hedge funds have also recently modified their holdings of CBU. US Bancorp DE grew its holdings in shares of 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 purchasing an additional 158 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Community Bank System by 140.1% during the fourth 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 period. Principal Securities Inc. boosted its stake 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. Aquatic Capital Management LLC purchased a new position in Community Bank System during the fourth quarter worth $125,000. Finally, Assetmark Inc. purchased a new position in Community Bank System during the fourth quarter worth $127,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CBU. StockNews.com raised shares of Community Bank System from a "sell" rating to a "hold" rating in a research note on Friday. Keefe, Bruyette & Woods lifted 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 research note on Wednesday, January 22nd.

Community Bank System Stock Down 0.5%

NYSE:CBU opened at $57.76 on Tuesday. Community Bank System, Inc. has a twelve month low of $42.16 and a twelve month high of $73.39. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 16.79 and a beta of 0.77. The stock has a fifty day simple moving average of $55.49 and a 200-day simple moving average of $61.56. 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 (NYSE:CBU - Get Free Report) last released 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 return on equity of 10.94% and a net margin of 19.40%. The business had revenue of $196.20 million during the quarter, compared to the consensus estimate of $197.13 million. During the same period last year, the company earned $1.18 earnings per share. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts anticipate that Community Bank System, Inc. will post 4.18 EPS 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. Stockholders of record on Friday, June 13th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, June 13th. This represents a $1.84 annualized dividend and a dividend yield of 3.19%. Community Bank System's dividend payout ratio (DPR) is 50.97%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.