Crossmark Global Holdings Inc. Buys New Shares in Community Bank System, Inc. (NYSE:CBU)

Crossmark Global Holdings Inc. bought a new stake in shares of Community Bank System, Inc. (NYSE:CBU) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 3,361 shares of the bank’s stock, valued at approximately $207,000.

A number of other institutional investors also recently modified their holdings of CBU. Versant Capital Management Inc lifted its position in shares of Community Bank System by 99.2% during the 4th quarter. Versant Capital Management Inc now owns 478 shares of the bank’s stock valued at $29,000 after acquiring an additional 238 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Community Bank System during the 2nd quarter valued at $76,000. KBC Group NV lifted its position in shares of Community Bank System by 23.6% during the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after acquiring an additional 347 shares during the period. Stone House Investment Management LLC lifted its position in shares of Community Bank System by 51.0% during the 3rd quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank’s stock valued at $137,000 after acquiring an additional 797 shares during the period. Finally, Park Avenue Securities LLC acquired a new position in shares of Community Bank System during the 4th quarter valued at $226,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. 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 on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Community Bank System from $74.00 to $76.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd. 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 on the stock in a report on Monday, October 28th.

Community Bank System Stock Performance

NYSE CBU opened at $66.24 on Tuesday. Community Bank System, Inc. has a 1 year low of $41.50 and a 1 year high of $73.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 19.26 and a beta of 0.67. The company has a fifty day moving average price of $64.97 and a 200-day moving average price of $61.72.

Community Bank System (NYSE:CBU) last posted its earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The firm had revenue of $196.30 million during the quarter, compared to analyst estimates of $190,950 billion. During the same quarter in the prior year, the business posted $0.76 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts predict that Community Bank System, Inc. will post 4.01 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. Stockholders of record on Friday, March 14th will be paid a $0.46 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.84 annualized dividend and a dividend yield of 2.78%. Community Bank System’s payout ratio is 53.49%.

Insider Transactions at Community Bank System

In related 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 owns 5,823 shares in the company, valued at approximately $425,661.30. This represents a 40.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.89% of the company’s stock.

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.