Carnegie Investment Counsel Has $3.42 Million Stock Position in Community Bank System, Inc. (NYSE:CBU)

Carnegie Investment Counsel grew its position in Community Bank System, Inc. (NYSE:CBU - Free Report) by 11.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 55,445 shares of the bank's stock after buying an additional 5,688 shares during the period. Carnegie Investment Counsel owned 0.11% of Community Bank System worth $3,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its stake in shares of Community Bank System by 99.0% in the 3rd quarter. Barclays PLC now owns 109,647 shares of the bank's stock valued at $6,367,000 after buying an additional 54,554 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Community Bank System by 56.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 22,582 shares of the bank's stock valued at $1,311,000 after buying an additional 8,113 shares during the period. Ausbil Investment Management Ltd boosted its position in shares of Community Bank System by 494.7% in the 3rd quarter. Ausbil Investment Management Ltd now owns 30,552 shares of the bank's stock worth $1,774,000 after purchasing an additional 25,415 shares during the last quarter. Citigroup Inc. boosted its position in shares of Community Bank System by 9.5% in the 3rd quarter. Citigroup Inc. now owns 96,742 shares of the bank's stock worth $5,618,000 after purchasing an additional 8,356 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Community Bank System by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 652,991 shares of the bank's stock worth $37,919,000 after purchasing an additional 9,863 shares during the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.

Community Bank System Trading Up 1.0 %

CBU stock traded up $0.61 during midday trading on Friday, hitting $63.21. 301,625 shares of the company's stock were exchanged, compared to its average volume of 208,280. The stock's fifty day moving average price is $65.46 and its 200-day moving average price is $60.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $3.32 billion, a PE ratio of 19.69 and a beta of 0.67. Community Bank System, Inc. has a one year low of $41.50 and a one year high of $73.39.

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 for the quarter, missing the consensus estimate of $0.88 by ($0.05). The business had revenue of $188.94 million for the quarter, compared to the consensus estimate of $186.35 million. Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The business's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Research analysts predict that Community Bank System, Inc. will post 3.39 earnings per share for the current fiscal year.

Community Bank System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 14th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.91%. Community Bank System's dividend payout ratio (DPR) is 57.32%.

Analyst Ratings Changes

Several research firms have recently issued reports on CBU. Piper Sandler began coverage on Community Bank System in a research report on Thursday, December 5th. They issued a "neutral" rating and a $70.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on Community Bank System from $64.00 to $74.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Finally, Raymond James upgraded Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 price target on the stock in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $65.25.

Insider Activity

In other news, Director John F. Whipple sold 3,937 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $73.10, for a total value of $287,794.70. Following the sale, the director now directly owns 5,823 shares in the company, valued at $425,661.30. The trade was a 40.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.78% of the company's stock.

Community Bank System 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.