Wells Fargo & Company MN Buys 7,428 Shares of Community Bank System, Inc. (NYSE:CBU)

Wells Fargo & Company MN raised its holdings in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) by 15.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,153 shares of the bank's stock after purchasing an additional 7,428 shares during the period. Wells Fargo & Company MN owned 0.10% of Community Bank System worth $3,402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc increased its stake in shares of Community Bank System by 99.2% during the fourth quarter. Versant Capital Management Inc now owns 478 shares of the bank's stock valued at $29,000 after buying an additional 238 shares during the period. US Bancorp DE increased its position in Community Bank System by 17.1% during the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank's stock valued at $67,000 after purchasing an additional 158 shares during the period. Smartleaf Asset Management LLC raised its holdings in Community Bank System by 140.1% in 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. lifted its position in shares of 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. Finally, Assetmark Inc. bought a new stake in shares of Community Bank System during the 4th quarter valued at about $127,000. Institutional investors own 73.79% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price target 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 Up 0.4 %

Community Bank System stock traded up $0.20 on Monday, hitting $55.43. 203,835 shares of the stock traded hands, compared to its average volume of 259,486. Community Bank System, Inc. has a 1 year low of $42.16 and a 1 year high of $73.39. The firm has a market cap of $2.93 billion, a P/E ratio of 16.11 and a beta of 0.74. 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 business's fifty day simple moving average is $56.80 and its 200 day simple moving average is $61.93.

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 paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.32%. The ex-dividend date is Friday, June 13th. Community Bank System's payout ratio 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.