Algert Global LLC Buys 50,590 Shares of Community Bank System, Inc. (NYSE:CBU)

Algert Global LLC increased its stake in Community Bank System, Inc. (NYSE:CBU - Free Report) by 371.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,193 shares of the bank's stock after acquiring an additional 50,590 shares during the period. Algert Global LLC owned about 0.12% of Community Bank System worth $3,728,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in shares of Community Bank System by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,770,648 shares of the bank's stock valued at $83,588,000 after acquiring an additional 142,909 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Community Bank System by 6.8% in the 2nd quarter. Federated Hermes Inc. now owns 691,879 shares of the bank's stock worth $32,664,000 after buying an additional 44,137 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Community Bank System by 1.5% in the 3rd 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 last quarter. Victory Capital Management Inc. grew its position in shares of Community Bank System by 164.9% in the 2nd quarter. Victory Capital Management Inc. now owns 213,167 shares of the bank's stock worth $10,064,000 after buying an additional 132,697 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Community Bank System by 152.9% during the second quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank's stock valued at $8,611,000 after buying an additional 110,288 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CBU has been the subject of several research reports. Raymond James upgraded shares of Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 price objective for the company in a report on Monday, October 28th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $59.00 price target on shares of Community Bank System in a research report on Tuesday, September 10th.

Insider Activity

In related news, Director John F. Whipple sold 3,937 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $73.10, for a total value of $287,794.70. Following the completion of the transaction, the director now directly owns 5,823 shares in the company, valued at $425,661.30. The trade was a 40.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.89% of the company's stock.

Community Bank System Stock Down 2.0 %

NYSE:CBU traded down $1.40 during mid-day trading on Tuesday, hitting $70.05. 96,540 shares of the company's stock were exchanged, compared to its average volume of 281,670. The company has a market cap of $3.68 billion, a PE ratio of 22.27 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.76 and a quick ratio of 0.76. Community Bank System, Inc. has a one year low of $41.50 and a one year high of $73.39. The business has a fifty day moving average price of $61.94 and a 200 day moving average price of $55.84.

Community Bank System (NYSE:CBU - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $0.88 by ($0.05). Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The company had revenue of $188.94 million during the quarter, compared to the consensus estimate of $186.35 million. During the same period in the prior year, the firm earned $0.82 earnings per share. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts predict that Community Bank System, Inc. will post 3.38 EPS for the current year.

Community Bank System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.84 annualized dividend and a dividend yield of 2.63%. Community Bank System's payout ratio is presently 57.32%.

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.