Community Bank System, Inc. (NYSE:CBU) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in Community Bank System, Inc. (NYSE:CBU) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,035 shares of the bank’s stock after selling 381 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Community Bank System were worth $434,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in shares of Community Bank System by 99.2% in the fourth 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. US Bancorp DE boosted its stake in Community Bank System by 17.1% during the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank’s stock worth $67,000 after purchasing an additional 158 shares during the period. Smartleaf Asset Management LLC grew its position in Community Bank System by 140.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank’s stock worth $74,000 after purchasing an additional 702 shares during the last quarter. KBC Group NV increased its stake in 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 purchasing an additional 347 shares during the period. Finally, Principal Securities Inc. increased its stake in 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 purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Community Bank System from $74.00 to $76.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd. Piper Sandler began 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 objective for the company.

Insider Buying and Selling

In related news, SVP Jeffrey M. Levy sold 1,136 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 6,539 shares in the company, valued at $431,443.22. The trade was a 14.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.89% of the company’s stock.

Community Bank System Stock Performance

NYSE:CBU opened at $57.16 on Friday. The company has a market cap of $3.01 billion, a P/E ratio of 16.62 and a beta of 0.66. The firm’s 50 day moving average is $62.72 and its two-hundred day moving average is $62.63. 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 quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42.

Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $190.95 million. During the same quarter last year, the firm posted $0.76 earnings per share. Community Bank System’s revenue for the quarter was up 10.8% compared to the same quarter last year. Analysts expect that Community Bank System, Inc. will post 4.18 EPS for the current year.

Community Bank System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 14th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, March 14th. Community Bank System’s payout ratio is currently 53.49%.

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.