California Public Employees Retirement System lessened its holdings in Community Bank System, Inc. (NYSE:CBU – Get Rating) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 119,161 shares of the bank’s stock after selling 288 shares during the period. California Public Employees Retirement System’s holdings in Community Bank System were worth $7,541,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in CBU. Covestor Ltd raised its stake in Community Bank System by 82.8% in the 1st quarter. Covestor Ltd now owns 585 shares of the bank’s stock valued at $41,000 after acquiring an additional 265 shares during the period. Van ECK Associates Corp bought a new position in Community Bank System during the 2nd quarter worth $86,000. Hilton Capital Management LLC bought a new position in Community Bank System during the 2nd quarter worth $206,000. Qube Research & Technologies Ltd bought a new position in Community Bank System during the 1st quarter worth $215,000. Finally, Bouchey Financial Group Ltd bought a new position in Community Bank System during the 1st quarter worth $218,000. Institutional investors own 70.13% of the company’s stock.
Analyst Ratings Changes
CBU has been the topic of several recent research reports. Hovde Group lowered their price objective on Community Bank System to $67.00 in a research report on Thursday, October 27th. StockNews.com initiated coverage on Community Bank System in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, DA Davidson lowered their price objective on Community Bank System to $59.00 in a research report on Thursday, October 27th.
Community Bank System Stock Performance
Community Bank System Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 10th. Stockholders of record on Thursday, December 15th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Wednesday, December 14th. Community Bank System’s dividend payout ratio (DPR) is currently 53.50%.
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, 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.
- Get a free copy of the StockNews.com research report on Community Bank System (CBU)
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