Raymond James Financial Inc. Invests $687,000 in Community Bank System, Inc. (NYSE:CBU)

Raymond James Financial Inc. acquired a new position in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,134 shares of the bank's stock, valued at approximately $687,000.

Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE grew its position in shares of 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 period. Principal Securities Inc. boosted its stake in Community Bank System by 13.7% in the fourth quarter. Principal Securities Inc. now owns 1,774 shares of the bank's stock valued at $109,000 after acquiring an additional 214 shares during the last quarter. Versant Capital Management Inc grew its holdings in Community Bank System by 99.2% during the 4th quarter. Versant Capital Management Inc now owns 478 shares of the bank's stock worth $29,000 after acquiring an additional 238 shares during the period. Invesco LLC raised its position in shares of Community Bank System by 7.0% during the 4th quarter. Invesco LLC now owns 6,763 shares of the bank's stock valued at $417,000 after acquiring an additional 442 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Community Bank System by 1.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 50,322 shares of the bank's stock valued at $3,104,000 after purchasing an additional 499 shares during the period. 73.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted 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.

Insider Transactions at Community Bank System

In other news, SVP Jeffrey M. Levy sold 1,136 shares of the company's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $65.98, for a total value of $74,953.28. Following the completion of the transaction, the senior vice president now owns 6,539 shares in the company, valued at $431,443.22. This represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.89% of the stock is currently owned by insiders.

Community Bank System Trading Down 0.2 %

Community Bank System stock traded down $0.08 during midday trading on Friday, hitting $51.39. 271,179 shares of the stock were exchanged, compared to its average volume of 260,867. Community Bank System, Inc. has a 52 week low of $41.50 and a 52 week high of $73.39. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $2.72 billion, a PE ratio of 14.94 and a beta of 0.74. The company has a fifty day simple moving average of $59.75 and a two-hundred day simple moving average of $62.22.

Community Bank System (NYSE:CBU - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The company had revenue of $196.30 million during the quarter, compared to analyst estimates of $190.95 million. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The firm's revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS. Equities research analysts anticipate that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Friday, March 14th were issued a $0.46 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.84 annualized dividend and a dividend yield of 3.58%. Community Bank System's dividend payout ratio (DPR) is currently 53.49%.

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.