Charles Schwab Investment Management Inc. Acquires 8,326 Shares of Community Bank System, Inc. (NYSE:CBU)

Charles Schwab Investment Management Inc. lifted its position in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 661,317 shares of the bank's stock after buying an additional 8,326 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.26% of Community Bank System worth $40,790,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Smartleaf Asset Management LLC increased its position in shares of Community Bank System by 140.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank's stock worth $74,000 after purchasing an additional 702 shares during the period. US Bancorp DE lifted its holdings in shares of Community Bank System by 17.1% during the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank's stock worth $67,000 after acquiring an additional 158 shares during the period. Anchor Capital Advisors LLC boosted its position in shares of Community Bank System by 1.7% during the 4th quarter. Anchor Capital Advisors LLC now owns 33,518 shares of the bank's stock worth $2,067,000 after acquiring an additional 554 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Community Bank System by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank's stock valued at $34,906,000 after acquiring an additional 34,143 shares during the last quarter. Finally, Olympiad Research LP bought a new stake in Community Bank System during the fourth quarter worth $215,000. Institutional investors own 73.79% of the company's stock.

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Analysts Set New Price Targets

CBU has been the subject of several research analyst reports. Piper Sandler began coverage on Community Bank System in a research note on Thursday, December 5th. They set a "neutral" rating and a $70.00 target price for the company. Keefe, Bruyette & Woods upped their price target on Community Bank System from $74.00 to $76.00 and gave the company a "market perform" rating in a research report on Wednesday, January 22nd.

Insider Buying and Selling at Community Bank System

In other news, SVP Jeffrey M. Levy sold 1,136 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president now owns 6,539 shares of the company's stock, valued at $431,443.22. The trade was a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.89% of the company's stock.

Community Bank System Trading Up 0.2 %

Shares of NYSE:CBU traded up $0.09 during midday trading on Wednesday, reaching $58.19. The company's stock had a trading volume of 124,733 shares, compared to its average volume of 220,891. The firm has a 50 day moving average price of $62.84 and a two-hundred day moving average price of $62.70. Community Bank System, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $73.39. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 16.91 and a beta of 0.66. 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 quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.04. The business had revenue of $196.30 million during the quarter, compared to analyst estimates of $190.95 million. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. Community Bank System's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 EPS. As a group, analysts forecast that Community Bank System, Inc. will post 4.18 earnings per share for the current year.

Community Bank System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 14th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, March 14th. Community Bank System's dividend payout ratio is currently 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.