Bank of New York Mellon Corp boosted its position in Community Bank System, Inc. (NYSE:CBU - Free Report) by 6.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 565,920 shares of the bank's stock after acquiring an additional 34,143 shares during the period. Bank of New York Mellon Corp owned 1.08% of Community Bank System worth $34,906,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in Community Bank System by 99.2% during the 4th quarter. Versant Capital Management Inc now owns 478 shares of the bank's stock valued at $29,000 after buying an additional 238 shares in the last quarter. KBC Group NV grew its holdings in Community Bank System by 23.6% during the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank's stock valued at $105,000 after buying an additional 347 shares in the last quarter. Principal Securities Inc. grew its holdings in Community Bank System by 13.7% during the 4th quarter. Principal Securities Inc. now owns 1,774 shares of the bank's stock valued at $109,000 after buying an additional 214 shares in the last quarter. Stone House Investment Management LLC grew its holdings in Community Bank System by 51.0% during the 3rd quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank's stock valued at $137,000 after buying an additional 797 shares in the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in Community Bank System during the 4th quarter valued at about $141,000. Hedge funds and other institutional investors own 73.79% of the company's stock.
Analysts Set New Price Targets
CBU has been the subject of a number of recent analyst reports. Piper Sandler initiated coverage on Community Bank System in a report on Thursday, December 5th. They set a "neutral" rating and a $70.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on Community Bank System from $74.00 to $76.00 and gave the company a "market perform" rating in a report on Wednesday, January 22nd.
Get Our Latest Research Report on CBU
Community Bank System Price Performance
Shares of NYSE CBU traded up $0.07 during midday trading on Friday, hitting $59.60. 240,043 shares of the company's stock were exchanged, compared to its average volume of 246,215. Community Bank System, Inc. has a 12-month low of $41.50 and a 12-month high of $73.39. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 17.33 and a beta of 0.66. The business's fifty day moving average price is $63.46 and its two-hundred day moving average price is $62.83.
Community Bank System (NYSE:CBU - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The company had revenue of $196.30 million during the quarter, compared to analyst estimates of $190.95 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. Community Bank System's revenue was up 10.8% on a year-over-year basis. As a group, research analysts forecast that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.
Community Bank System Dividend Announcement
The company 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 $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, March 14th. Community Bank System's dividend payout ratio is currently 53.49%.
Insiders Place Their Bets
In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $65.98, for a total value of $74,953.28. Following the completion of the sale, the senior vice president now owns 6,539 shares of the company's stock, valued at $431,443.22. This represents a 14.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.89% of the stock is owned by insiders.
About Community Bank System
(
Free Report)
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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