Congress Wealth Management LLC DE Invests $386,000 in Community Bank System, Inc. (NYSE:CBU)

Congress Wealth Management LLC DE purchased a new position in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,256 shares of the bank's stock, valued at approximately $386,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings 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 worth $29,000 after acquiring an additional 238 shares during the period. US Bancorp DE raised its position in Community Bank System by 17.1% during the fourth quarter. US Bancorp DE now owns 1,081 shares of the bank's stock valued at $67,000 after purchasing an additional 158 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Community Bank System by 140.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank's stock worth $74,000 after buying an additional 702 shares during the last quarter. Principal Securities Inc. grew its holdings in shares of 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 purchasing an additional 214 shares during the last quarter. Finally, Assetmark Inc. acquired a new position in shares of Community Bank System during the fourth quarter worth $127,000. Institutional investors own 73.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Piper Sandler started coverage on Community Bank System in a research report on Thursday, December 5th. They set a "neutral" rating and a $70.00 price objective on the stock. Keefe, Bruyette & Woods upped their price objective on Community Bank System from $74.00 to $76.00 and gave the company a "market perform" rating in a research note on Wednesday, January 22nd.

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Insider Transactions at Community Bank System

In related news, SVP Jeffrey M. Levy sold 1,136 shares of the company's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $65.98, for a total transaction of $74,953.28. Following the sale, the senior vice president now owns 6,539 shares in the company, valued at $431,443.22. This represents a 14.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.89% of the company's stock.

Community Bank System Trading Down 7.5 %

Shares of CBU traded down $4.30 during mid-day trading on Thursday, reaching $53.22. 393,151 shares of the company were exchanged, compared to its average volume of 257,429. The business has a 50 day simple moving average of $61.62 and a two-hundred day simple moving average of $62.54. Community Bank System, Inc. has a 52 week low of $41.50 and a 52 week high of $73.39. The stock has a market capitalization of $2.81 billion, a PE ratio of 15.47 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 issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.04. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The firm had revenue of $196.30 million for the quarter, compared to the consensus estimate of $190.95 million. During the same quarter in the previous year, the company earned $0.76 EPS. The company's revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts predict that Community Bank System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Bank System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a yield of 3.46%. Community Bank System's payout ratio is currently 53.49%.

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.