Alliance Wealth Advisors LLC Decreases Stake in Community Bank System, Inc. (NYSE:CBU)

Alliance Wealth Advisors LLC trimmed its stake in Community Bank System, Inc. (NYSE:CBU - Free Report) by 36.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,370 shares of the bank's stock after selling 6,576 shares during the quarter. Alliance Wealth Advisors LLC's holdings in Community Bank System were worth $701,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Versant Capital Management Inc lifted its position in shares of Community Bank System by 99.2% in the fourth quarter. Versant Capital Management Inc now owns 478 shares of the bank's stock worth $29,000 after buying an additional 238 shares during the last quarter. KBC Group NV increased its stake in Community Bank System by 23.6% during the third quarter. KBC Group NV now owns 1,816 shares of the bank's stock valued at $105,000 after acquiring an additional 347 shares during the period. Geneos Wealth Management Inc. bought a new position in Community Bank System during the fourth quarter valued at about $141,000. Stone House Investment Management LLC grew its stake in shares of Community Bank System by 51.0% in the 3rd quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank's stock valued at $137,000 after purchasing an additional 797 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Community Bank System in the 4th quarter worth approximately $207,000. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Community Bank System Stock Performance

NYSE:CBU traded down $2.32 during mid-day trading on Wednesday, hitting $64.69. The stock had a trading volume of 188,947 shares, compared to its average volume of 223,484. Community Bank System, Inc. has a twelve month low of $41.50 and a twelve month high of $73.39. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 18.81 and a beta of 0.67. The company's 50 day simple moving average is $64.17 and its 200 day simple moving average is $62.33. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76.

Community Bank System (NYSE:CBU - Get Free Report) last announced its 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. The company had revenue of $196.30 million for the quarter, compared to analysts' expectations of $190.95 million. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The business's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. On average, equities research analysts forecast 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. Shareholders of record on Friday, March 14th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.84%. Community Bank System's payout ratio is presently 53.49%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CBU shares. Raymond James raised Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 price objective on the stock in a report on Monday, October 28th. Piper Sandler started coverage on Community Bank System in a research note on Thursday, December 5th. They issued a "neutral" rating and a $70.00 price target on the stock. Finally, Keefe, Bruyette & Woods increased their price target on Community Bank System from $74.00 to $76.00 and gave the company a "market perform" rating in a research note on Wednesday, January 22nd.

Insiders Place Their Bets

In related news, Director John F. Whipple sold 3,937 shares of the business's stock in a transaction 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 sale, the director now owns 5,823 shares of the company's stock, valued at $425,661.30. The trade was a 40.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jeffrey M. Levy sold 1,136 shares of the business's stock in a transaction on Friday, January 24th. The stock was 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 directly owns 6,539 shares in the company, valued at approximately $431,443.22. This represents a 14.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.89% 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.