Victory Capital Management Inc. Sells 11,856 Shares of Community Bank System, Inc. (NYSE:CBU)

Victory Capital Management Inc. reduced its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,172 shares of the bank’s stock after selling 11,856 shares during the quarter. Victory Capital Management Inc. owned 0.26% of Community Bank System worth $8,276,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of Community Bank System by 99.0% during the third 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. BNP Paribas Financial Markets lifted its holdings in Community Bank System by 56.1% in the third quarter. BNP Paribas Financial Markets now owns 22,582 shares of the bank’s stock worth $1,311,000 after buying an additional 8,113 shares during the period. Principal Financial Group Inc. lifted its holdings in Community Bank System by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 254,869 shares of the bank’s stock worth $15,720,000 after buying an additional 7,160 shares during the period. Citigroup Inc. lifted its holdings in Community Bank System by 9.5% in the third quarter. Citigroup Inc. now owns 96,742 shares of the bank’s stock worth $5,618,000 after buying an additional 8,356 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $37,919,000 after buying an additional 9,863 shares during the period. 73.79% of the stock is owned by institutional investors.

Insider Activity at Community Bank System

In other news, SVP Jeffrey M. Levy sold 1,136 shares of the company’s 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 sale, the senior vice president now 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 1.78% of the stock is currently owned by insiders.

Community Bank System Trading Up 2.2 %

Shares of CBU stock opened at $57.29 on Friday. 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 1 year low of $41.50 and a 1 year high of $73.39. The firm has a fifty day moving average price of $63.06 and a 200-day moving average price of $62.75. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 16.65 and a beta of 0.66.

Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, topping 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 business had revenue of $196.30 million for the quarter, compared to analysts’ expectations of $190.95 million. During the same quarter in the previous year, the company earned $0.76 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts predict that Community Bank System, Inc. will post 4.18 earnings per share for the current year.

Community Bank System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 14th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.84 annualized dividend and a yield of 3.21%. Community Bank System’s payout ratio is 53.49%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CBU shares. Piper Sandler started coverage on shares of Community Bank System in a report on Thursday, December 5th. They set a “neutral” rating and a $70.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on shares of 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.