New York State Common Retirement Fund Grows Stake in Community Bank System, Inc. (NYSE:CBU)

New York State Common Retirement Fund grew its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,883 shares of the bank’s stock after buying an additional 634 shares during the period. New York State Common Retirement Fund’s holdings in Community Bank System were worth $1,041,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. QRG Capital Management Inc. boosted its holdings in Community Bank System by 19.9% in the third quarter. QRG Capital Management Inc. now owns 5,867 shares of the bank’s stock valued at $341,000 after acquiring an additional 972 shares in the last quarter. Atria Investments Inc lifted its position in shares of Community Bank System by 30.6% in the 3rd quarter. Atria Investments Inc now owns 7,621 shares of the bank’s stock worth $443,000 after purchasing an additional 1,787 shares during the period. KBC Group NV boosted its stake in shares of Community Bank System by 23.6% during the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after purchasing an additional 347 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Community Bank System by 10.0% during the third quarter. Natixis Advisors LLC now owns 13,488 shares of the bank’s stock valued at $783,000 after buying an additional 1,228 shares during the period. Finally, Quest Partners LLC bought a new position in Community Bank System in the third quarter worth about $1,551,000. Institutional investors own 73.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CBU shares. Piper Sandler assumed coverage on Community Bank System in a research report on Thursday, December 5th. They set a “neutral” rating and a $70.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price target on Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a research report on Wednesday, January 22nd.

Community Bank System Trading Up 1.2 %

Shares of NYSE CBU opened at $64.05 on Tuesday. 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 current ratio of 0.76 and a quick ratio of 0.76. The firm has a 50-day moving average of $63.67 and a 200 day moving average of $62.82. The stock has a market cap of $3.37 billion, a P/E ratio of 18.62 and a beta of 0.67.

Community Bank System (NYSE:CBU) last announced its earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $196.30 million during the quarter, compared to the consensus estimate of $190.95 million. During the same quarter last year, the firm earned $0.76 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The business also recently disclosed 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. This represents a $1.84 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Friday, March 14th. Community Bank System’s payout ratio is 53.49%.

Insiders Place Their Bets

In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $65.98, for a total transaction of $74,953.28. Following the completion of the sale, the senior vice president now directly owns 6,539 shares in the company, valued at approximately $431,443.22. This trade represents a 14.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.89% of the company’s stock.

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.