Olympiad Research LP Takes Position in Community Bank System, Inc. (NYSE:CBU)

Olympiad Research LP bought a new stake in shares of Community Bank System, Inc. (NYSE:CBU) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,480 shares of the bank’s stock, valued at approximately $215,000.

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc grew its holdings in Community Bank System by 99.2% during the 4th quarter. Versant Capital Management Inc now owns 478 shares of the bank’s stock valued at $29,000 after purchasing an additional 238 shares during the last quarter. KBC Group NV grew its holdings in Community Bank System by 23.6% during the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after purchasing an additional 347 shares during the last quarter. Principal Securities Inc. grew its holdings in Community Bank System by 13.7% during the 4th quarter. Principal Securities Inc. now owns 1,774 shares of the bank’s stock valued at $109,000 after purchasing an additional 214 shares during the last quarter. Stone House Investment Management LLC grew its holdings in Community Bank System by 51.0% during the 3rd quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank’s stock valued at $137,000 after purchasing an additional 797 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in Community Bank System during the 4th quarter valued at about $141,000. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Community Bank System Price Performance

Shares of CBU stock opened at $63.09 on Monday. 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 has a market capitalization of $3.32 billion, a P/E ratio of 18.34 and a beta of 0.67. The company’s 50-day simple moving average is $63.73 and its two-hundred day simple moving average is $62.61. Community Bank System, Inc. has a one year low of $41.50 and a one year high of $73.39.

Community Bank System (NYSE:CBU) last issued its earnings results on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $196.30 million for the quarter, compared to the consensus estimate of $190.95 million. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. As a group, equities analysts anticipate that Community Bank System, Inc. will post 4.18 EPS for the current year.

Community Bank System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.92%. Community Bank System’s dividend payout ratio is presently 53.49%.

Insider Activity

In other news, SVP Jeffrey M. Levy sold 1,136 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $65.98, for a total transaction of $74,953.28. Following the transaction, the senior vice president now directly owns 6,539 shares in the company, valued at approximately $431,443.22. This trade represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on CBU. Raymond James upgraded shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a report on Monday, October 28th. Piper Sandler assumed coverage on shares of Community Bank System in a report on Thursday, December 5th. They set a “neutral” rating and a $70.00 price target on the stock. Finally, Keefe, Bruyette & Woods upped their target price on shares of Community Bank System from $74.00 to $76.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 22nd.

Community Bank System Profile

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.