Deutsche Bank AG Has $3.89 Million Stock Position in Community Bank System, Inc. (NYSE:CBU)

Deutsche Bank AG grew its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 103.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,027 shares of the bank’s stock after buying an additional 32,059 shares during the quarter. Deutsche Bank AG’s holdings in Community Bank System were worth $3,888,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CBU. Norges Bank acquired a new position in shares of Community Bank System during the fourth quarter valued at about $34,779,000. Deprince Race & Zollo Inc. acquired a new position in shares of Community Bank System during the fourth quarter valued at about $32,368,000. JPMorgan Chase & Co. grew its holdings in shares of Community Bank System by 210.0% during the fourth quarter. JPMorgan Chase & Co. now owns 348,405 shares of the bank’s stock valued at $21,490,000 after buying an additional 236,028 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Community Bank System by 27.3% during the fourth quarter. Northern Trust Corp now owns 677,841 shares of the bank’s stock valued at $41,809,000 after buying an additional 145,172 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Community Bank System by 699.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank’s stock valued at $8,932,000 after buying an additional 126,700 shares during the last quarter. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Community Bank System Stock Down 0.5%

CBU opened at $57.76 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The company’s 50-day moving average is $55.49 and its 200 day moving average is $61.56. Community Bank System, Inc. has a fifty-two week low of $42.16 and a fifty-two week high of $73.39. The firm has a market capitalization of $3.05 billion, a P/E ratio of 16.79 and a beta of 0.77.

Community Bank System (NYSE:CBU) last released its quarterly earnings results on Tuesday, April 29th. The bank reported $0.93 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $197.13 million. During the same period last year, the firm earned $1.18 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. 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 company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 13th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Friday, June 13th. Community Bank System’s payout ratio is currently 50.97%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CBU shares. Keefe, Bruyette & Woods lifted their price objective on shares of Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a report on Wednesday, January 22nd. StockNews.com raised shares of Community Bank System from a “sell” rating to a “hold” rating in a research report on Friday.

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.