Nottingham Advisors Inc. trimmed its position in Community Bank System, Inc. (NYSE:CBU - Free Report) by 90.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 11,208 shares of the bank's stock after selling 112,603 shares during the period. Nottingham Advisors Inc.'s holdings in Community Bank System were worth $691,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in Community Bank System by 17.1% in the fourth quarter. US Bancorp DE now owns 1,081 shares of the bank's stock valued at $67,000 after acquiring an additional 158 shares during the last quarter. Principal Securities Inc. lifted its holdings in Community Bank System by 13.7% in the fourth quarter. Principal Securities Inc. now owns 1,774 shares of the bank's stock valued at $109,000 after buying an additional 214 shares during the period. Versant Capital Management Inc raised its position in shares of 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 acquiring an additional 238 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Community Bank System by 4.0% in the 4th quarter. Corient Private Wealth LLC now owns 8,526 shares of the bank's stock valued at $526,000 after purchasing an additional 327 shares during the period. Finally, Invesco LLC grew its stake in shares of Community Bank System by 7.0% during the fourth quarter. Invesco LLC now owns 6,763 shares of the bank's stock worth $417,000 after purchasing an additional 442 shares during the period. 73.79% of the stock is owned by institutional investors and hedge funds.
Community Bank System Trading Up 3.0 %
Shares of CBU stock traded up $1.51 on Tuesday, hitting $52.72. The stock had a trading volume of 74,843 shares, compared to its average volume of 258,436. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. Community Bank System, Inc. has a twelve month low of $41.50 and a twelve month high of $73.39. The company has a fifty day moving average price of $61.04 and a two-hundred day moving average price of $62.49. The firm has a market cap of $2.79 billion, a P/E ratio of 15.36 and a beta of 0.74.
Community Bank System (NYSE:CBU - Get Free Report) last posted its earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.04. The firm had revenue of $196.30 million during the quarter, compared to analysts' expectations of $190.95 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The company's revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 earnings per share. As a group, analysts forecast that Community Bank System, Inc. will post 4.18 earnings per share for the current fiscal year.
Community Bank System Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 14th will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.84 annualized dividend and a yield of 3.49%. Community Bank System's dividend payout ratio is currently 53.49%.
Insider Buying and Selling
In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the business'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 sale, the senior vice president now owns 6,539 shares in the company, valued at approximately $431,443.22. The trade was a 14.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.89% of the company's stock.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods boosted their target price on Community Bank System from $74.00 to $76.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 22nd.
Check Out Our Latest Research Report on CBU
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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