Aigen Investment Management LP Sells 5,360 Shares of Community Bank System, Inc. (NYSE:CBU)

Aigen Investment Management LP reduced its stake in shares of Community Bank System, Inc. (NYSE:CBUFree Report) by 27.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,828 shares of the bank’s stock after selling 5,360 shares during the quarter. Aigen Investment Management LP’s holdings in Community Bank System were worth $721,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in shares of Community Bank System by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,582,679 shares of the bank’s stock valued at $82,475,000 after purchasing an additional 91,165 shares during the last quarter. Norges Bank bought a new position in Community Bank System in the fourth quarter valued at approximately $30,870,000. Charles Schwab Investment Management Inc. boosted its stake in Community Bank System by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 591,913 shares of the bank’s stock valued at $30,845,000 after acquiring an additional 32,459 shares during the last quarter. Federated Hermes Inc. boosted its stake in Community Bank System by 14.0% in the fourth quarter. Federated Hermes Inc. now owns 536,844 shares of the bank’s stock valued at $27,975,000 after acquiring an additional 65,879 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Community Bank System in the third quarter valued at approximately $6,405,000. 73.79% of the stock is owned by institutional investors.

Community Bank System Stock Performance

Shares of CBU stock traded down $0.53 during midday trading on Wednesday, hitting $48.14. 31,526 shares of the company were exchanged, compared to its average volume of 275,470. The firm has a market capitalization of $2.54 billion, a P/E ratio of 15.31 and a beta of 0.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.74 and a current ratio of 0.74. The firm’s 50 day moving average price is $45.56 and its two-hundred day moving average price is $46.67. Community Bank System, Inc. has a 52 week low of $35.38 and a 52 week high of $55.64.

Community Bank System (NYSE:CBUGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The firm had revenue of $178.29 million during the quarter, compared to the consensus estimate of $178.97 million. Community Bank System had a net margin of 16.59% and a return on equity of 8.93%. As a group, equities research analysts anticipate that Community Bank System, Inc. will post 3.21 earnings per share for the current year.

Community Bank System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Friday, June 14th. Community Bank System’s dividend payout ratio is 56.60%.

Wall Street Analyst Weigh In

Separately, DA Davidson reissued a “neutral” rating and set a $50.00 price target on shares of Community Bank System in a research report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $47.67.

Read Our Latest Research Report on CBU

About Community Bank System

(Free Report)

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.

Further Reading

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

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