Community Bank System, Inc. (NYSE:CBU) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in Community Bank System, Inc. (NYSE:CBU) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 565,920 shares of the bank’s stock after purchasing an additional 34,143 shares during the period. Bank of New York Mellon Corp owned approximately 1.08% of Community Bank System worth $34,906,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of Community Bank System by 99.0% in the third quarter. Barclays PLC now owns 109,647 shares of the bank’s stock valued at $6,367,000 after purchasing an additional 54,554 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Community Bank System by 56.1% in the third quarter. BNP Paribas Financial Markets now owns 22,582 shares of the bank’s stock valued at $1,311,000 after purchasing an additional 8,113 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Community Bank System by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 254,869 shares of the bank’s stock valued at $15,720,000 after purchasing an additional 7,160 shares during the period. Citigroup Inc. lifted its stake in shares of Community Bank System by 9.5% in the third quarter. Citigroup Inc. now owns 96,742 shares of the bank’s stock valued at $5,618,000 after purchasing an additional 8,356 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Community Bank System by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 652,991 shares of the bank’s stock valued at $37,919,000 after purchasing an additional 9,863 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Bank System Trading Up 0.1 %

CBU opened at $59.60 on Friday. The stock has a market capitalization of $3.14 billion, a PE ratio of 17.33 and a beta of 0.66. The firm’s fifty day moving average price is $63.52 and its 200 day moving average price is $62.83. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. Community Bank System, Inc. has a 12-month low of $41.50 and a 12-month high of $73.39.

Community Bank System (NYSE:CBU) last released its earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share 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 during the quarter, compared to analyst estimates of $190.95 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, research analysts expect that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The company 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. The ex-dividend date is Friday, March 14th. This represents a $1.84 annualized dividend and a dividend yield of 3.09%. Community Bank System’s dividend payout ratio is currently 53.49%.

Insider Transactions at Community Bank System

In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 6,539 shares of the company’s stock, valued at approximately $431,443.22. This represents a 14.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Community Bank System from $74.00 to $76.00 and gave the stock a “market perform” rating in a research report 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 target price for the company.

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.