Janney Montgomery Scott LLC Increases Stake in Community Bank System, Inc. (NYSE:CBU)

Janney Montgomery Scott LLC increased its holdings in Community Bank System, Inc. (NYSE:CBU) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,322 shares of the bank’s stock after acquiring an additional 499 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.10% of Community Bank System worth $3,104,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. 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 purchasing an additional 54,554 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Community Bank System by 56.1% during the third quarter. BNP Paribas Financial Markets now owns 22,582 shares of the bank’s stock valued at $1,311,000 after buying an additional 8,113 shares during the period. Ausbil Investment Management Ltd raised its stake in Community Bank System by 494.7% in the third quarter. Ausbil Investment Management Ltd now owns 30,552 shares of the bank’s stock worth $1,774,000 after buying an additional 25,415 shares in the last quarter. Citigroup Inc. lifted its holdings in Community Bank System by 9.5% during the third quarter. Citigroup Inc. now owns 96,742 shares of the bank’s stock worth $5,618,000 after buying an additional 8,356 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Community Bank System by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 652,991 shares of the bank’s stock valued at $37,919,000 after acquiring an additional 9,863 shares in the last quarter. 73.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Community Bank System from $74.00 to $76.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 22nd. Piper Sandler began coverage on shares of Community Bank System in a report on Thursday, December 5th. They issued a “neutral” rating and a $70.00 target price for the company. 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 target on the stock in a report on Monday, October 28th.

Insiders Place Their Bets

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $425,661.30. This trade represents a 40.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jeffrey M. Levy sold 1,136 shares of Community Bank System stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $65.98, for a total transaction of $74,953.28. Following the sale, the senior vice president now owns 6,539 shares of the company’s stock, valued at approximately $431,443.22. The trade was a 14.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.89% of the company’s stock.

Community Bank System Stock Performance

Shares of CBU opened at $65.53 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The firm has a market cap of $3.44 billion, a PE ratio of 19.05 and a beta of 0.67. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month high of $73.39. The stock has a fifty day moving average price of $64.68 and a 200-day moving average price of $61.94.

Community Bank System (NYSE:CBU) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The company had revenue of $196.30 million during the quarter, compared to analysts’ expectations of $190.95 million. During the same period last year, the business posted $0.76 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts predict that Community Bank System, Inc. will post 4.16 earnings per share for the current fiscal year.

Community Bank System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a yield of 2.81%. Community Bank System’s payout ratio is 53.49%.

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.