Stifel Financial Corp Buys 1,085 Shares of Community Bank System, Inc. (NYSE:CBU)

Stifel Financial Corp lifted its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,751 shares of the bank’s stock after buying an additional 1,085 shares during the period. Stifel Financial Corp owned about 0.06% of Community Bank System worth $1,786,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Louisiana State Employees Retirement System boosted its holdings in Community Bank System by 0.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the bank’s stock worth $1,256,000 after acquiring an additional 200 shares during the last quarter. Ausbil Investment Management Ltd purchased a new stake in Community Bank System in the 2nd quarter valued at about $243,000. Citizens & Northern Corp bought a new position in shares of Community Bank System during the 2nd quarter worth approximately $398,000. IFG Advisory LLC purchased a new position in shares of Community Bank System in the 2nd quarter worth approximately $212,000. Finally, Natixis Advisors LLC grew its holdings in shares of Community Bank System by 22.2% in the second quarter. Natixis Advisors LLC now owns 12,260 shares of the bank’s stock valued at $579,000 after acquiring an additional 2,226 shares in the last quarter. Institutional investors own 73.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on Community Bank System from $64.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James raised 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. Finally, 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 objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Community Bank System presently has a consensus rating of “Hold” and a consensus price target of $65.25.

Insider Buying and Selling

In other news, Director John F. Whipple sold 3,937 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.10, for a total value of $287,794.70. Following the sale, the director now directly owns 5,823 shares in the company, valued at $425,661.30. The trade was a 40.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.89% of the stock is currently owned by insiders.

Community Bank System Stock Performance

Shares of CBU opened at $62.64 on Friday. 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 has a market cap of $3.29 billion, a PE ratio of 19.51 and a beta of 0.65. Community Bank System, Inc. has a 1 year low of $41.50 and a 1 year high of $73.39. The stock’s fifty day moving average price is $65.50 and its two-hundred day moving average price is $58.42.

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

Community Bank System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, December 13th. Community Bank System’s payout ratio is presently 57.32%.

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.