Intech Investment Management LLC Purchases 6,465 Shares of Community Bank System, Inc. (NYSE:CBU)

Intech Investment Management LLC boosted its position in Community Bank System, Inc. (NYSE:CBU - Free Report) by 52.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,794 shares of the bank's stock after buying an additional 6,465 shares during the quarter. Intech Investment Management LLC's holdings in Community Bank System were worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CBU. Geode Capital Management LLC boosted its stake in shares of Community Bank System by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,208,859 shares of the bank's stock valued at $70,212,000 after purchasing an additional 8,751 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 buying an additional 8,326 shares during the period. Bank of New York Mellon Corp grew its stake 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 valued at $34,906,000 after buying an additional 34,143 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Community Bank System by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 254,869 shares of the bank's stock worth $15,720,000 after buying an additional 7,160 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Community Bank System by 699.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank's stock valued at $8,932,000 after acquiring an additional 126,700 shares during the last quarter. 73.79% of the stock is currently owned by institutional investors.

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Community Bank System Trading Down 0.2 %

Shares of Community Bank System stock traded down $0.11 during midday trading on Wednesday, reaching $58.16. 122,247 shares of the company's stock traded hands, compared to its average volume of 243,810. The company has a market cap of $3.07 billion, a PE ratio of 16.91 and a beta of 0.66. The stock has a 50 day moving average of $62.61 and a 200-day moving average of $62.63. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month high of $73.39. 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 announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The company had revenue of $196.30 million for the quarter, compared to analysts' expectations of $190.95 million. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. Community Bank System's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 earnings per share. As a group, equities analysts expect that Community Bank System, Inc. will post 4.18 EPS 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. Investors of record on Friday, March 14th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a yield of 3.16%. Community Bank System's dividend payout ratio (DPR) is currently 53.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CBU. Keefe, Bruyette & Woods lifted their price target on Community Bank System from $74.00 to $76.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 22nd. Piper Sandler assumed coverage on shares of Community Bank System in a report on Thursday, December 5th. They set a "neutral" rating and a $70.00 target price for the company.

Insiders Place Their Bets

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

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.