Tower Research Capital LLC TRC Sells 5,596 Shares of Community Bank System, Inc. (NYSE:CBU)

Tower Research Capital LLC TRC decreased its position in Community Bank System, Inc. (NYSE:CBU - Free Report) by 74.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,945 shares of the bank's stock after selling 5,596 shares during the period. Tower Research Capital LLC TRC's holdings in Community Bank System were worth $120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Community Bank System by 17.1% in the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank's stock worth $67,000 after purchasing an additional 158 shares during the period. Principal Securities Inc. boosted its stake in Community Bank System by 13.7% in the 4th quarter. Principal Securities Inc. now owns 1,774 shares of the bank's stock worth $109,000 after purchasing an additional 214 shares during the period. Bank of Montreal Can boosted its stake in Community Bank System by 2.9% in the 4th quarter. Bank of Montreal Can now owns 9,140 shares of the bank's stock worth $564,000 after purchasing an additional 255 shares during the period. Corient Private Wealth LLC boosted its stake in Community Bank System by 4.0% in the 4th quarter. Corient Private Wealth LLC now owns 8,526 shares of the bank's stock worth $526,000 after purchasing an additional 327 shares during the period. Finally, Invesco LLC boosted its stake in Community Bank System by 7.0% in the 4th quarter. Invesco LLC now owns 6,763 shares of the bank's stock worth $417,000 after purchasing an additional 442 shares during the period. Institutional investors and hedge funds own 73.79% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CBU shares. StockNews.com lowered shares of Community Bank System from a "hold" rating to a "sell" rating in a research note on Thursday. Keefe, Bruyette & Woods increased their target price on shares of Community Bank System from $74.00 to $76.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 22nd.

Community Bank System Stock Up 3.1%

CBU stock traded up $1.73 during midday trading on Monday, reaching $58.23. The company had a trading volume of 200,948 shares, compared to its average volume of 259,879. Community Bank System, Inc. has a 1 year low of $42.16 and a 1 year high of $73.39. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $3.08 billion, a P/E ratio of 16.93 and a beta of 0.77. The company has a 50 day moving average of $55.52 and a two-hundred day moving average of $61.66.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 earned $1.18 EPS. The company's revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts expect that Community Bank System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Bank System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, June 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.16%. Community Bank System's dividend payout ratio is currently 50.97%.

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.