New Age Alpha Advisors LLC Makes New Investment in Community Bank System, Inc. (NYSE:CBU)

New Age Alpha Advisors LLC bought a new stake in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,545 shares of the bank's stock, valued at approximately $589,000.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Community Bank System by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,208,859 shares of the bank's stock valued at $70,212,000 after purchasing an additional 8,751 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Community Bank System by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,317 shares of the bank's stock valued at $40,790,000 after buying an additional 8,326 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings 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 valued at $34,906,000 after buying an additional 34,143 shares during the period. Norges Bank bought a new position in shares of Community Bank System during the 4th quarter valued at $34,779,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Community Bank System by 210.0% in the 4th quarter. JPMorgan Chase & Co. now owns 348,405 shares of the bank's stock worth $21,490,000 after buying an additional 236,028 shares during the last quarter. Hedge funds and other institutional investors own 73.79% of the company's stock.

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Insider Activity

In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $65.98, for a total value of $74,953.28. Following the completion of the transaction, the senior vice president now directly owns 6,539 shares in the company, valued at $431,443.22. This represents a 14.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.89% of the company's stock.

Analysts Set New Price Targets

CBU has been the topic of a number of recent research reports. Piper Sandler assumed coverage on Community Bank System in a report on Thursday, December 5th. They issued a "neutral" rating and a $70.00 target price on the stock. Keefe, Bruyette & Woods raised their price objective on shares of 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 Stock Performance

NYSE CBU traded up $0.62 on Wednesday, hitting $57.47. 250,580 shares of the company traded hands, compared to its average volume of 256,749. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The business's 50 day moving average price is $61.86 and its 200-day moving average price is $62.60. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 16.71 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.

Community Bank System (NYSE:CBU - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $196.30 million for the quarter, compared to analysts' expectations of $190.95 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. Equities analysts expect 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 disclosed 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 3.20%. Community Bank System's payout ratio is 53.49%.

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.