Commonwealth Equity Services LLC Increases Stock Holdings in Community Bank System, Inc. (NYSE:CBU)

Commonwealth Equity Services LLC increased its position in shares of Community Bank System, Inc. (NYSE:CBU) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,293 shares of the bank’s stock after purchasing an additional 750 shares during the period. Commonwealth Equity Services LLC’s holdings in Community Bank System were worth $1,560,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. US Bancorp DE grew its holdings in shares of 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. Principal Securities Inc. boosted its stake in Community Bank System by 13.7% during the fourth quarter. Principal Securities Inc. now owns 1,774 shares of the bank’s stock worth $109,000 after buying an additional 214 shares during the period. Versant Capital Management Inc increased its position in shares of Community Bank System by 99.2% during 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 last quarter. Invesco LLC raised its stake in shares of Community Bank System by 7.0% in the 4th quarter. Invesco LLC now owns 6,763 shares of the bank’s stock valued at $417,000 after acquiring an additional 442 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Community Bank System by 1.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 50,322 shares of the bank’s stock worth $3,104,000 after acquiring an additional 499 shares during the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.89% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Piper Sandler assumed 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. Keefe, Bruyette & Woods lifted 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.

Community Bank System Trading Down 2.0 %

NYSE CBU opened at $56.72 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 16.49 and a beta of 0.66. The firm has a 50 day simple moving average of $62.31 and a 200-day simple moving average of $62.60. Community Bank System, Inc. has a one year low of $41.50 and a one year high of $73.39.

Community Bank System (NYSE:CBU) last issued 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 company had revenue of $196.30 million during the quarter, compared to analysts’ expectations of $190.95 million. During the same quarter last year, the company posted $0.76 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts anticipate that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, March 14th. This represents a $1.84 annualized dividend and a yield of 3.24%. Community Bank System’s payout ratio is 53.49%.

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.