Truist Financial Corp Boosts Stock Holdings in Community Bank System, Inc. (NYSE:CBU)

Truist Financial Corp grew its position in Community Bank System, Inc. (NYSE:CBU) by 12.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,484 shares of the bank’s stock after purchasing an additional 1,063 shares during the period. Truist Financial Corp’s holdings in Community Bank System were worth $585,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Versant Capital Management Inc grew its position in Community Bank System by 99.2% in the 4th quarter. Versant Capital Management Inc now owns 478 shares of the bank’s stock worth $29,000 after purchasing an additional 238 shares in the last quarter. KBC Group NV grew its holdings in shares of Community Bank System by 23.6% in the third quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after acquiring an additional 347 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of Community Bank System by 13.7% in the fourth quarter. Principal Securities Inc. now owns 1,774 shares of the bank’s stock valued at $109,000 after acquiring an additional 214 shares in the last quarter. Stone House Investment Management LLC increased its position in shares of Community Bank System by 51.0% during the third 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 last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in Community Bank System during the fourth quarter worth $141,000. 73.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CBU shares. Keefe, Bruyette & Woods upped their price objective on Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a research note on Wednesday, January 22nd. Piper Sandler assumed 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 for the company.

Community Bank System Price Performance

Community Bank System stock opened at $63.23 on Monday. The business’s 50 day simple moving average is $63.67 and its 200 day simple moving average is $62.78. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month high of $73.39. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 18.38 and a beta of 0.67. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42.

Community Bank System (NYSE:CBU) last issued its earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The firm had revenue of $196.30 million for the quarter, compared to analyst estimates of $190.95 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. Sell-side analysts forecast that Community Bank System, Inc. will post 4.18 EPS for the current year.

Community Bank System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be given 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 2.91%. Community Bank System’s dividend payout ratio is presently 53.49%.

Insider Transactions at Community Bank System

In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the stock in a transaction on Friday, January 24th. The stock was 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 in the company, valued at $431,443.22. This represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.89% of the company’s stock.

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.