Community Bank System, Inc. (NYSE:CBU) Stake Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in Community Bank System, Inc. (NYSE:CBU) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,709 shares of the bank’s stock after selling 12,553 shares during the quarter. Principal Financial Group Inc.’s holdings in Community Bank System were worth $14,384,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in shares of Community Bank System in the second quarter worth $76,000. Benjamin Edwards Inc. increased its stake in Community Bank System by 27.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank’s stock valued at $162,000 after buying an additional 741 shares during the period. IFG Advisory LLC bought a new stake in shares of Community Bank System during the 2nd quarter worth about $212,000. QRG Capital Management Inc. lifted its stake in shares of Community Bank System by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank’s stock worth $231,000 after acquiring an additional 212 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in shares of Community Bank System in the second quarter valued at approximately $231,000. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Community Bank System Stock Up 0.6 %

NYSE CBU opened at $69.07 on Friday. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month high of $72.29. The company has a market capitalization of $3.63 billion, a P/E ratio of 21.52 and a beta of 0.62. The company’s 50 day simple moving average is $60.50 and its 200 day simple moving average is $54.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.76 and a quick ratio of 0.76.

Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.05). The company had revenue of $188.94 million during the quarter, compared to the consensus estimate of $186.35 million. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. Community Bank System’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 EPS. Equities research analysts expect that Community Bank System, Inc. will post 3.37 earnings per share for the current fiscal year.

Community Bank System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be given a $0.46 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.66%. Community Bank System’s dividend payout ratio (DPR) is 57.32%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CBU. Raymond James raised Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 target price on the stock in a report on Monday, October 28th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $59.00 price objective on shares of Community Bank System in a research note on Tuesday, September 10th.

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.