Holocene Advisors LP Makes New $484,000 Investment in Community Bank System, Inc. (NYSE:CBU)

Holocene Advisors LP bought a new stake in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,335 shares of the bank's stock, valued at approximately $484,000.

A number of other large investors have also recently bought and sold shares of CBU. Dimensional Fund Advisors LP raised its position in shares of Community Bank System by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,770,648 shares of the bank's stock worth $83,588,000 after buying an additional 142,909 shares during the period. Victory Capital Management Inc. increased its position in shares of Community Bank System by 164.9% during the second quarter. Victory Capital Management Inc. now owns 213,167 shares of the bank's stock worth $10,064,000 after acquiring an additional 132,697 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Community Bank System by 152.9% during the second quarter. Assenagon Asset Management S.A. now owns 182,397 shares of the bank's stock worth $8,611,000 after acquiring an additional 110,288 shares during the last quarter. Algert Global LLC increased its position in shares of Community Bank System by 371.9% during the third quarter. Algert Global LLC now owns 64,193 shares of the bank's stock worth $3,728,000 after acquiring an additional 50,590 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Community Bank System by 6.8% during the second quarter. Federated Hermes Inc. now owns 691,879 shares of the bank's stock worth $32,664,000 after acquiring an additional 44,137 shares during the last quarter. Institutional investors and hedge funds own 73.79% of the company's stock.

Analyst Upgrades and Downgrades

CBU has been the topic of a number of analyst reports. Piper Sandler started coverage on Community Bank System in a research report on Thursday. They set a "neutral" rating and a $70.00 target price on the stock. Raymond James upgraded Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 price target for the company in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods lifted their price target on Community Bank System from $64.00 to $74.00 and gave the stock a "market perform" rating in a research note on Wednesday. One 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $65.25.

Insider Buying and Selling at Community Bank System

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of the business's stock in a transaction 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 transaction, the director now owns 5,823 shares of the company's stock, valued at $425,661.30. The trade was a 40.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.89% of the stock is owned by corporate insiders.

Community Bank System Stock Performance

CBU stock traded up $0.38 during midday trading on Friday, reaching $68.68. The company had a trading volume of 133,390 shares, compared to its average volume of 204,901. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $63.91 and a 200 day moving average price of $57.18. Community Bank System, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $73.39. The firm has a market capitalization of $3.61 billion, a PE ratio of 21.40 and a beta of 0.65.

Community Bank System (NYSE:CBU - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing analysts' consensus estimates of $0.88 by ($0.05). Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The business had revenue of $188.94 million for the quarter, compared to the consensus estimate of $186.35 million. During the same period last year, the firm posted $0.82 EPS. The business's quarterly revenue was up 7.7% on a year-over-year basis. Analysts anticipate that Community Bank System, Inc. will post 3.38 earnings per share for the current year.

Community Bank System Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, December 13th. This represents a $1.84 annualized dividend and a dividend yield of 2.68%. Community Bank System's dividend payout ratio is currently 57.32%.

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.