Community Bank System, Inc. (NYSE:CBU) Position Raised by Federated Hermes Inc.

Federated Hermes Inc. grew its stake in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 831,387 shares of the bank's stock after purchasing an additional 94,850 shares during the quarter. Federated Hermes Inc. owned 1.58% of Community Bank System worth $51,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in Community Bank System by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,208,859 shares of the bank's stock worth $70,212,000 after acquiring an additional 8,751 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Community Bank System by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,317 shares of the bank's stock valued at $40,790,000 after purchasing an additional 8,326 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Community Bank System by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank's stock worth $34,906,000 after purchasing an additional 34,143 shares in the last quarter. Norges Bank purchased a new position in shares of Community Bank System in the fourth quarter valued at $34,779,000. Finally, JPMorgan Chase & Co. grew its holdings in Community Bank System by 210.0% during the 4th quarter. JPMorgan Chase & Co. now owns 348,405 shares of the bank's stock valued at $21,490,000 after purchasing an additional 236,028 shares in the last quarter. Hedge funds and other institutional investors own 73.79% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their price objective on shares of 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.

Insiders Place Their Bets

In other news, SVP Jeffrey M. Levy sold 1,136 shares of the firm's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $65.98, for a total value of $74,953.28. Following the transaction, the senior vice president now directly owns 6,539 shares in the company, valued at approximately $431,443.22. This trade represents a 14.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.89% of the stock is currently owned by company insiders.

Community Bank System Stock Down 0.2 %

Shares of Community Bank System stock traded down $0.08 on Friday, hitting $51.39. 271,179 shares of the company's stock traded hands, compared to its average volume of 261,225. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The firm's 50-day moving average is $59.45 and its 200 day moving average is $62.22. The stock has a market cap of $2.72 billion, a P/E ratio of 14.94 and a beta of 0.74. Community Bank System, Inc. has a 52-week low of $41.50 and a 52-week high of $73.39.

Community Bank System (NYSE:CBU - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. The company 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%. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $0.76 EPS. Equities analysts anticipate 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 was paid on Thursday, April 10th. Shareholders of record on Friday, March 14th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Friday, March 14th. 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.