Principal Financial Group Inc. Lowers Stock Position in Community Bank System, Inc. (NYSE:CBU)

Principal Financial Group Inc. lessened its holdings in Community Bank System, Inc. (NYSE:CBUGet Rating) by 7.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 332,795 shares of the bank’s stock after selling 27,218 shares during the quarter. Principal Financial Group Inc.’s holdings in Community Bank System were worth $21,060,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Hilton Capital Management LLC purchased a new stake in shares of Community Bank System in the 2nd quarter worth approximately $206,000. Texas Permanent School Fund lifted its position in Community Bank System by 2.0% during the second quarter. Texas Permanent School Fund now owns 38,965 shares of the bank’s stock valued at $2,466,000 after acquiring an additional 768 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Community Bank System by 100.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,590 shares of the bank’s stock valued at $227,000 after acquiring an additional 1,800 shares during the last quarter. TD Asset Management Inc. lifted its position in Community Bank System by 63.8% during the second quarter. TD Asset Management Inc. now owns 46,400 shares of the bank’s stock valued at $2,936,000 after acquiring an additional 18,079 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new stake in Community Bank System during the second quarter valued at approximately $86,000. Hedge funds and other institutional investors own 70.13% of the company’s stock.

Community Bank System Trading Up 0.4 %

Shares of Community Bank System stock opened at $63.96 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. Community Bank System, Inc. has a 12-month low of $59.21 and a 12-month high of $78.00. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 19.44 and a beta of 0.67. The firm’s 50 day simple moving average is $62.77 and its two-hundred day simple moving average is $64.52.

Community Bank System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 10th. Shareholders of record on Thursday, December 15th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $1.76 dividend on an annualized basis and a yield of 2.75%. Community Bank System’s payout ratio is 53.50%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CBU. DA Davidson decreased their target price on shares of Community Bank System to $59.00 in a research report on Thursday, October 27th. StockNews.com began coverage on shares of Community Bank System in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Hovde Group decreased their target price on shares of Community Bank System to $67.00 in a research report on Thursday, October 27th.

Community Bank System Company Profile

(Get Rating)

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, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market deposit accounts, as well as time deposits.

See Also

Want to see what other hedge funds are holding CBU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Community Bank System, Inc. (NYSE:CBUGet Rating).

Institutional Ownership by Quarter for Community Bank System (NYSE:CBU)

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