JPMorgan Chase & Co. Has $6.53 Million Holdings in Community Bank System, Inc. (NYSE:CBU)

JPMorgan Chase & Co. boosted its holdings in Community Bank System, Inc. (NYSE:CBU) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,377 shares of the bank’s stock after purchasing an additional 1,587 shares during the quarter. JPMorgan Chase & Co. owned 0.21% of Community Bank System worth $6,526,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Barclays PLC raised its position in shares of Community Bank System by 99.0% in the third 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 in the last quarter. BNP Paribas Financial Markets raised its holdings in Community Bank System by 56.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 22,582 shares of the bank’s stock valued at $1,311,000 after acquiring an additional 8,113 shares in the last quarter. Ausbil Investment Management Ltd lifted its position in shares of Community Bank System by 494.7% during the 3rd quarter. Ausbil Investment Management Ltd now owns 30,552 shares of the bank’s stock valued at $1,774,000 after acquiring an additional 25,415 shares during the period. Citigroup Inc. grew its holdings in shares of Community Bank System by 9.5% during the 3rd quarter. Citigroup Inc. now owns 96,742 shares of the bank’s stock worth $5,618,000 after purchasing an additional 8,356 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Community Bank System by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 652,991 shares of the bank’s stock worth $37,919,000 after purchasing an additional 9,863 shares during the period. Institutional investors own 73.79% of the company’s stock.

Community Bank System Price Performance

Shares of NYSE CBU opened at $62.25 on Thursday. Community Bank System, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $73.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 19.39 and a beta of 0.67. The firm’s 50-day simple moving average is $65.68 and its 200 day simple moving average is $60.66.

Community Bank System (NYSE:CBU) last released its earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $186.35 million. During the same period in the prior year, the business earned $0.82 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts anticipate that Community Bank System, Inc. will post 3.39 earnings per share for the current fiscal year.

Community Bank System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors 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 dividend yield of 2.96%. Community Bank System’s payout ratio is currently 57.32%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CBU. Keefe, Bruyette & Woods upped their price objective on shares of 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. Piper Sandler initiated 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. Finally, Raymond James upgraded 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $65.25.

Insider Buying and Selling

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

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.