Sei Investments Co. Increases Position in Community Bank System, Inc. (NYSE:CBU)

Sei Investments Co. increased its position in shares of Community Bank System, Inc. (NYSE:CBU) by 264.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,239 shares of the bank’s stock after acquiring an additional 24,127 shares during the quarter. Sei Investments Co. owned about 0.06% of Community Bank System worth $2,050,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Assenagon Asset Management S.A. raised its stake in shares of Community Bank System by 699.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank’s stock valued at $8,932,000 after buying an additional 126,700 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Community Bank System by 151.8% in the 3rd quarter. Jane Street Group LLC now owns 127,227 shares of the bank’s stock valued at $7,388,000 after buying an additional 76,703 shares during the period. Barclays PLC grew its holdings in shares of Community Bank System by 99.0% during the 3rd quarter. Barclays PLC now owns 109,647 shares of the bank’s stock worth $6,367,000 after purchasing an additional 54,554 shares during the period. Bank of New York Mellon Corp increased its holdings in Community Bank System by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank’s stock valued at $34,906,000 after purchasing an additional 34,143 shares during the last quarter. Finally, Amundi increased its stake in Community Bank System by 186.5% during the fourth quarter. Amundi now owns 26,504 shares of the bank’s stock worth $1,603,000 after purchasing an additional 17,254 shares during the period. 73.79% of the stock is owned by institutional investors and hedge funds.

Community Bank System Trading Down 3.5 %

NYSE:CBU opened at $51.42 on Friday. The stock has a fifty day moving average price of $61.34 and a two-hundred day moving average price of $62.49. 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 quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 14.95 and a beta of 0.66.

Community Bank System (NYSE:CBU) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The company had revenue of $196.30 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. As a group, sell-side analysts anticipate that Community Bank System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Bank System Announces Dividend

The firm 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. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Friday, March 14th. Community Bank System’s dividend payout ratio is presently 53.49%.

Insider Buying and Selling at Community Bank System

In related news, SVP Jeffrey M. Levy sold 1,136 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $65.98, for a total value of $74,953.28. Following the completion of the sale, the senior vice president now directly owns 6,539 shares of the company’s stock, valued at $431,443.22. The trade was a 14.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their target price on Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a report on Wednesday, January 22nd.

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.