Centiva Capital LP Takes $571,000 Position in Community Bank System, Inc. (NYSE:CBU)

Centiva Capital LP bought a new position in Community Bank System, Inc. (NYSE:CBU - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,829 shares of the bank's stock, valued at approximately $571,000.

Other institutional investors also recently modified their holdings of the company. QRG Capital Management Inc. raised its holdings in shares of Community Bank System by 4.5% during the second quarter. QRG Capital Management Inc. now owns 4,895 shares of the bank's stock worth $231,000 after acquiring an additional 212 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Community Bank System by 2.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 50,045 shares of the bank's stock valued at $2,363,000 after buying an additional 1,411 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Community Bank System by 152.9% in the 2nd 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 in the last quarter. Louisiana State Employees Retirement System increased its holdings in Community Bank System by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the bank's stock worth $1,256,000 after buying an additional 200 shares during the last quarter. Finally, Ausbil Investment Management Ltd bought a new position in Community Bank System during the second quarter valued at approximately $243,000. Institutional investors and hedge funds own 73.79% of the company's stock.

Insider Activity at Community Bank System

In related news, Director John F. Whipple sold 3,937 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $73.10, for a total transaction 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. This represents a 40.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.89% of the stock is owned by corporate insiders.

Community Bank System Stock Performance

CBU stock traded up $0.38 during midday trading on Friday, hitting $68.68. 133,390 shares of the company traded hands, compared to its average volume of 204,901. The business has a 50 day simple moving average of $63.91 and a 200-day simple moving average of $57.18. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.35. 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 capitalization of $3.61 billion, a price-to-earnings ratio of 21.40 and a beta of 0.65.

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

Community Bank System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, December 13th. This represents a $1.84 annualized dividend and a dividend yield of 2.68%. Community Bank System's dividend payout ratio is presently 57.32%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Community Bank System from $64.00 to $74.00 and gave the stock a "market perform" rating in a research report on Wednesday. Raymond James raised 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 research note on Monday, October 28th. Finally, Piper Sandler started coverage on shares of Community Bank System in a research report on Thursday. They set a "neutral" rating and a $70.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Community Bank System presently has a consensus rating of "Hold" and an average target price of $65.25.

About Community Bank System

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.