Fmr LLC Increases Stake in Community Bank System, Inc. (NYSE:CBU)

FMR LLC lifted its holdings in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) by 21.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,439 shares of the bank's stock after acquiring an additional 10,727 shares during the quarter. FMR LLC owned 0.12% of Community Bank System worth $3,568,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CBU. Dimensional Fund Advisors LP lifted its stake in shares of Community Bank System by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,770,648 shares of the bank's stock valued at $83,588,000 after buying an additional 142,909 shares in the last quarter. Federated Hermes Inc. boosted its position in Community Bank System by 6.8% during the second quarter. Federated Hermes Inc. now owns 691,879 shares of the bank's stock valued at $32,664,000 after buying an additional 44,137 shares during the period. Charles Schwab Investment Management Inc. grew its position in Community Bank System by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 652,991 shares of the bank's stock worth $37,919,000 after acquiring an additional 9,863 shares during the last quarter. Victory Capital Management Inc. lifted its position in Community Bank System by 164.9% in the second quarter. Victory Capital Management Inc. now owns 213,167 shares of the bank's stock valued at $10,064,000 after purchasing an additional 132,697 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Community Bank System by 152.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank's stock valued at $8,611,000 after buying an additional 110,288 shares during the last quarter. 73.79% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director John F. Whipple sold 3,937 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $73.10, for a total transaction of $287,794.70. Following the completion of the sale, the director now owns 5,823 shares of the company's stock, valued at $425,661.30. This trade represents a 40.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.89% of the company's stock.

Community Bank System Stock Down 0.2 %

Shares of CBU stock traded down $0.15 during midday trading on Friday, reaching $66.68. 153,134 shares of the stock were exchanged, compared to its average volume of 276,405. Community Bank System, Inc. has a 1 year low of $41.50 and a 1 year high of $73.39. The firm has a market cap of $3.50 billion, a PE ratio of 20.77 and a beta of 0.65. The company's 50 day moving average is $64.93 and its two-hundred day moving average is $57.86. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35.

Community Bank System (NYSE:CBU - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.88 by ($0.05). Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The firm had revenue of $188.94 million during the quarter, compared to the consensus estimate of $186.35 million. During the same quarter last year, the company posted $0.82 EPS. Community Bank System's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that Community Bank System, Inc. will post 3.39 EPS for the current year.

Community Bank System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, December 13th. Community Bank System's dividend payout ratio (DPR) is presently 57.32%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Raymond James upgraded shares of Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 price objective on the stock in a research report on Monday, October 28th. Keefe, Bruyette & Woods increased their price objective on Community Bank System from $64.00 to $74.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Finally, Piper Sandler began coverage on Community Bank System in a research note on Thursday, December 5th. They set a "neutral" rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $65.25.

Community Bank System Company 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.