Canada Pension Plan Investment Board Purchases New Position in Community Bank System, Inc. (NYSE:CBU)

Canada Pension Plan Investment Board acquired a new position in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 25,200 shares of the bank's stock, valued at approximately $1,554,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Federated Hermes Inc. increased its stake in shares of Community Bank System by 12.9% during the fourth quarter. Federated Hermes Inc. now owns 831,387 shares of the bank's stock valued at $51,280,000 after buying an additional 94,850 shares during the period. Charles Schwab Investment Management Inc. increased its position 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 purchasing an additional 8,326 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Community Bank System by 6.4% in 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 purchasing an additional 34,143 shares in the last quarter. Norges Bank purchased a new stake in shares of Community Bank System in the 4th quarter worth approximately $34,779,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Community Bank System by 210.0% during the fourth quarter. JPMorgan Chase & Co. now owns 348,405 shares of the bank's stock valued at $21,490,000 after purchasing an additional 236,028 shares in the last quarter. 73.79% of the stock is owned by institutional investors.

Community Bank System Price Performance

CBU opened at $55.28 on Thursday. The firm has a market capitalization of $2.92 billion, a PE ratio of 16.07 and a beta of 0.74. The business's 50-day moving average is $57.59 and its two-hundred day moving average is $61.98. Community Bank System, Inc. has a 1 year low of $42.16 and a 1 year high of $73.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76.

Community Bank System (NYSE:CBU - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.04. The business had revenue of $196.30 million for the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.76 earnings per share. Research analysts anticipate that Community Bank System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Bank System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 13th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, June 13th. Community Bank System's dividend payout ratio is currently 53.49%.

Insider Buying and Selling at Community Bank System

In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the firm's stock in a transaction on Friday, January 24th. The shares were 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 owns 6,539 shares of the company's stock, valued at approximately $431,443.22. This trade represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted 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 research note on Wednesday, January 22nd.

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.

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