Community Bank System, Inc. (NYSE:CBU) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its holdings in Community Bank System, Inc. (NYSE:CBU) by 19.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,983 shares of the bank’s stock after selling 3,380 shares during the period. Franklin Resources Inc.’s holdings in Community Bank System were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Tidal Investments LLC increased its holdings in shares of Community Bank System by 48.4% during the 3rd quarter. Tidal Investments LLC now owns 30,866 shares of the bank’s stock worth $1,792,000 after buying an additional 10,060 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Community Bank System by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,208,859 shares of the bank’s stock worth $70,212,000 after acquiring an additional 8,751 shares during the last quarter. MidWestOne Financial Group Inc. purchased a new stake in Community Bank System in the third quarter valued at approximately $232,000. Barclays PLC raised its holdings in shares of Community Bank System by 99.0% in the 3rd quarter. Barclays PLC now owns 109,647 shares of the bank’s stock valued at $6,367,000 after buying an additional 54,554 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Community Bank System during the third quarter worth about $451,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Community Bank System Trading Down 1.5 %

Shares of Community Bank System stock opened at $62.31 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $65.61 and a 200-day simple moving average of $59.26. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 19.41 and a beta of 0.65. Community Bank System, Inc. has a 12-month low of $41.50 and a 12-month high of $73.39.

Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.83 earnings per share (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 firm had revenue of $188.94 million for the quarter, compared to analysts’ expectations of $186.35 million. During the same period in the previous year, the business posted $0.82 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that Community Bank System, Inc. will post 3.39 EPS for the current fiscal year.

Community Bank System Announces Dividend

The firm also recently announced 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 of this dividend is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.95%. Community Bank System’s dividend payout ratio (DPR) is presently 57.32%.

Wall Street Analysts Forecast Growth

CBU has been the topic of several analyst reports. Piper Sandler started coverage on Community Bank System in a research note on Thursday, December 5th. They issued a “neutral” rating and a $70.00 price objective on the stock. Raymond James raised shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective for the company in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods increased their target price on Community Bank System from $64.00 to $74.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $65.25.

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.