Community Bank N.A. Reduces Holdings in Community Bank System, Inc. (NYSE:CBU)

Community Bank N.A. decreased its position in Community Bank System, Inc. (NYSE:CBU) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,184 shares of the bank’s stock after selling 9,915 shares during the period. Community Bank System accounts for approximately 0.8% of Community Bank N.A.’s investment portfolio, making the stock its 27th largest position. Community Bank N.A. owned 0.23% of Community Bank System worth $6,419,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CBU. Assenagon Asset Management S.A. acquired a new position in shares of Community Bank System in the 3rd quarter worth approximately $6,405,000. Federated Hermes Inc. lifted its holdings in shares of Community Bank System by 38.5% in the 3rd quarter. Federated Hermes Inc. now owns 470,965 shares of the bank’s stock worth $19,879,000 after acquiring an additional 130,970 shares during the last quarter. Numerai GP LLC acquired a new position in shares of Community Bank System in the 3rd quarter worth approximately $2,154,000. Tudor Investment Corp Et Al lifted its holdings in shares of Community Bank System by 62.7% in the 3rd quarter. Tudor Investment Corp Et Al now owns 113,604 shares of the bank’s stock worth $4,795,000 after acquiring an additional 43,766 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of Community Bank System in the 3rd quarter worth approximately $1,490,000. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Community Bank System Stock Up 1.8 %

Community Bank System stock traded up $0.78 during mid-day trading on Wednesday, reaching $45.35. 246,620 shares of the company’s stock were exchanged, compared to its average volume of 294,120. The company has a market cap of $2.39 billion, a P/E ratio of 17.78 and a beta of 0.66. Community Bank System, Inc. has a twelve month low of $35.38 and a twelve month high of $55.64. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $45.21 and a 200-day moving average of $45.89.

Community Bank System (NYSE:CBU) last released its earnings results on Tuesday, January 23rd. The bank reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.08). The business had revenue of $177.00 million for the quarter, compared to analyst estimates of $175.25 million. Community Bank System had a return on equity of 9.15% and a net margin of 13.78%. Community Bank System’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 earnings per share. Sell-side analysts expect that Community Bank System, Inc. will post 3.24 EPS for the current year.

Community Bank System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 15th were issued a $0.45 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.97%. Community Bank System’s payout ratio is 71.15%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. DA Davidson restated a “neutral” rating and issued a $50.00 price objective on shares of Community Bank System in a report on Thursday, March 14th. Raymond James upped their price objective on shares of Community Bank System from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Finally, StockNews.com upgraded shares of Community Bank System to a “sell” rating in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.67.

Insider Activity

In other news, CEO Dimitar Karaivanov acquired 1,000 shares of Community Bank System stock in a transaction dated Wednesday, February 14th. The shares were acquired at an average cost of $43.70 per share, for a total transaction of $43,700.00. Following the acquisition, the chief executive officer now owns 16,265 shares of the company’s stock, valued at $710,780.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Dimitar Karaivanov acquired 1,000 shares of Community Bank System stock in a transaction dated Wednesday, February 14th. The shares were acquired at an average cost of $43.70 per share, for a total transaction of $43,700.00. Following the acquisition, the chief executive officer now owns 16,265 shares of the company’s stock, valued at $710,780.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark J. Bolus sold 3,631 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $45.00, for a total transaction of $163,395.00. Following the completion of the transaction, the director now directly owns 96,364 shares in the company, valued at $4,336,380. The disclosure for this sale can be found here. Company insiders own 1.78% of the company’s stock.

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.