Community Bank System, Inc. (NYSE:CBU) Shares Sold by Community Bank N.A.

Community Bank N.A. lowered its holdings in Community Bank System, Inc. (NYSE:CBU) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,949 shares of the bank’s stock after selling 1,511 shares during the quarter. Community Bank System accounts for 0.9% of Community Bank N.A.’s holdings, making the stock its 26th biggest position. Community Bank N.A. owned approximately 0.22% of Community Bank System worth $7,152,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. KLP Kapitalforvaltning AS acquired a new stake in Community Bank System during the fourth quarter valued at $676,000. Sei Investments Co. grew its position in Community Bank System by 264.8% during the fourth quarter. Sei Investments Co. now owns 33,239 shares of the bank’s stock valued at $2,050,000 after buying an additional 24,127 shares during the period. Teacher Retirement System of Texas grew its position in Community Bank System by 13.2% during the fourth quarter. Teacher Retirement System of Texas now owns 24,655 shares of the bank’s stock valued at $1,521,000 after buying an additional 2,872 shares during the period. Xponance Inc. acquired a new stake in Community Bank System during the fourth quarter valued at $232,000. Finally, Intech Investment Management LLC grew its position in Community Bank System by 52.4% during the fourth quarter. Intech Investment Management LLC now owns 18,794 shares of the bank’s stock valued at $1,159,000 after buying an additional 6,465 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.

Insiders Place Their Bets

In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of Community Bank System stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $65.98, for a total transaction of $74,953.28. Following the completion of the sale, the senior vice president now directly owns 6,539 shares in the company, valued at $431,443.22. This trade represents a 14.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler assumed coverage on shares of Community Bank System in a research report on Thursday, December 5th. They set a “neutral” rating and a $70.00 price target on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a research report on Wednesday, January 22nd.

Community Bank System Stock Up 0.4 %

Shares of NYSE CBU opened at $57.41 on Friday. The company’s 50-day simple moving average is $62.70 and its 200-day simple moving average is $62.62. Community Bank System, Inc. has a 52-week low of $41.50 and a 52-week high of $73.39. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 16.69 and a beta of 0.66. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42.

Community Bank System (NYSE:CBU) last announced its earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The business had revenue of $196.30 million for the quarter, compared to analyst estimates 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 quarter last year, the business earned $0.76 earnings per share. Equities analysts predict that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Friday, March 14th. Community Bank System’s dividend payout ratio (DPR) is presently 53.49%.

Community Bank System Company 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.