Charles Schwab Investment Management Inc. Has $40.79 Million Position in Community Bank System, Inc. (NYSE:CBU)

Charles Schwab Investment Management Inc. lifted its position in shares of Community Bank System, Inc. (NYSE:CBU) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 661,317 shares of the bank’s stock after buying an additional 8,326 shares during the period. Charles Schwab Investment Management Inc. owned about 1.26% of Community Bank System worth $40,790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CBU. Smartleaf Asset Management LLC increased its position in shares of Community Bank System by 140.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank’s stock valued at $74,000 after acquiring an additional 702 shares during the last quarter. US Bancorp DE increased its holdings in shares of Community Bank System by 17.1% in the fourth quarter. US Bancorp DE now owns 1,081 shares of the bank’s stock valued at $67,000 after purchasing an additional 158 shares during the last quarter. Anchor Capital Advisors LLC raised its position in shares of Community Bank System by 1.7% in the fourth quarter. Anchor Capital Advisors LLC now owns 33,518 shares of the bank’s stock valued at $2,067,000 after purchasing an additional 554 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Community Bank System by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank’s stock worth $34,906,000 after buying an additional 34,143 shares during the last quarter. Finally, Olympiad Research LP bought a new stake in shares of Community Bank System during the 4th quarter worth about $215,000. 73.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction 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 legal filing with the SEC, which is accessible through this hyperlink. 1.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Community Bank System Price Performance

NYSE:CBU opened at $57.29 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 $3.02 billion, a price-to-earnings ratio of 16.65 and a beta of 0.66. Community Bank System, Inc. has a 52 week low of $41.50 and a 52 week high of $73.39. The firm’s 50-day simple moving average is $62.97 and its 200 day simple moving average is $62.74.

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, 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 company had revenue of $196.30 million during the quarter, compared to the consensus estimate of $190.95 million. During the same period in the previous year, the business earned $0.76 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that Community Bank System, Inc. will post 4.18 earnings per share for the current year.

Community Bank System Dividend Announcement

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

Community Bank System 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.