Ameriprise Financial Inc. decreased its position in Community Bank System, Inc. (NYSE:CBU) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 765,066 shares of the bank’s stock after selling 10,562 shares during the period. Ameriprise Financial Inc. owned 1.72% of Community Bank System worth $42,067,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Community Bank System by 62.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,906 shares of the bank’s stock worth $105,000 after buying an additional 733 shares during the last quarter. Meadow Creek Investment Management LLC acquired a new stake in Community Bank System during the first quarter valued at about $126,000. Glen Harbor Capital Management LLC acquired a new stake in Community Bank System during the first quarter valued at about $153,000. Quadrature Capital Ltd acquired a new stake in Community Bank System during the fourth quarter valued at about $203,000. Finally, AT Bancorp acquired a new stake in Community Bank System during the first quarter valued at about $220,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

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

Community Bank System, Inc. (NYSE:CBU) traded down 1.21% during midday trading on Friday, reaching $57.05. The company’s stock had a trading volume of 1,226,791 shares. The stock has a market capitalization of $2.62 billion, a PE ratio of 24.39 and a beta of 1.07. The firm’s 50-day moving average price is $55.86 and its 200-day moving average price is $57.47. Community Bank System, Inc. has a 52 week low of $38.20 and a 52 week high of $63.04.

Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Monday, April 24th. The bank reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. Community Bank System had a return on equity of 8.84% and a net margin of 23.62%. The company had revenue of $111.60 million for the quarter, compared to analyst estimates of $109.43 million. During the same quarter in the prior year, the company posted $0.55 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts anticipate that Community Bank System, Inc. will post $2.45 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Tuesday, June 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.24%. Community Bank System’s payout ratio is 54.47%.

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Several research firms have issued reports on CBU. Royal Bank of Canada raised their target price on Community Bank System from $41.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 16th. DA Davidson began coverage on Community Bank System in a research note on Monday, March 6th. They set a “neutral” rating and a $60.00 target price for the company. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $54.25.

In other news, Director Edward S. Mucenski sold 3,000 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $57.96, for a total transaction of $173,880.00. Following the completion of the sale, the director now directly owns 3,186 shares in the company, valued at approximately $184,660.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.20% of the company’s stock.

About Community Bank System

Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.

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