Community Bank System, Inc. (NYSE:CBU) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its position in shares of Community Bank System, Inc. (NYSE:CBU) by 56.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,582 shares of the bank’s stock after buying an additional 8,113 shares during the quarter. BNP Paribas Financial Markets’ holdings in Community Bank System were worth $1,311,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CBU. QRG Capital Management Inc. grew its holdings in Community Bank System by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank’s stock worth $231,000 after buying an additional 212 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Community Bank System by 2.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 50,045 shares of the bank’s stock worth $2,363,000 after purchasing an additional 1,411 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Community Bank System by 152.9% during the second quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank’s stock valued at $8,611,000 after purchasing an additional 110,288 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Community Bank System by 0.8% during the second quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the bank’s stock valued at $1,256,000 after purchasing an additional 200 shares in the last quarter. Finally, Ausbil Investment Management Ltd acquired a new stake in Community Bank System in the second quarter worth about $243,000. Institutional investors own 73.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CBU. Raymond James raised Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective on the stock in a research note on Monday, October 28th. Keefe, Bruyette & Woods lifted their target price on Community Bank System from $64.00 to $74.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler assumed coverage on shares of Community Bank System in a report on Thursday, December 5th. They issued a “neutral” rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Community Bank System currently has a consensus rating of “Hold” and a consensus price target of $65.25.

Community Bank System Stock Down 1.4 %

CBU opened at $67.71 on Tuesday. The company has a market capitalization of $3.56 billion, a P/E ratio of 21.09 and a beta of 0.65. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s fifty day moving average price is $64.10 and its two-hundred day moving average price is $57.33. Community Bank System, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $73.39.

Community Bank System (NYSE:CBU) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.05). Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The business had revenue of $188.94 million for the quarter, compared to analyst estimates of $186.35 million. During the same period in the prior year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts anticipate that Community Bank System, Inc. will post 3.39 EPS for the current year.

Community Bank System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.72%. Community Bank System’s dividend payout ratio is 57.32%.

Insider Activity

In other news, Director John F. Whipple sold 3,937 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.10, for a total transaction of $287,794.70. Following the completion of the transaction, the director now directly owns 5,823 shares in the company, valued at $425,661.30. This represents a 40.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.78% of the stock is owned by company insiders.

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.