Jane Street Group LLC Acquires 76,703 Shares of Community Bank System, Inc. (NYSE:CBU)

Jane Street Group LLC boosted its position in Community Bank System, Inc. (NYSE:CBU - Free Report) by 151.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,227 shares of the bank's stock after purchasing an additional 76,703 shares during the quarter. Jane Street Group LLC owned about 0.24% of Community Bank System worth $7,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of CBU. Louisiana State Employees Retirement System raised its stake in Community Bank System by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 26,600 shares of the bank's stock valued at $1,256,000 after purchasing an additional 200 shares in the last quarter. Arizona State Retirement System grew its position in Community Bank System by 1.8% in the second quarter. Arizona State Retirement System now owns 14,930 shares of the bank's stock worth $705,000 after acquiring an additional 258 shares in the last quarter. CIBC Asset Management Inc increased its stake in Community Bank System by 6.2% in the second quarter. CIBC Asset Management Inc now owns 5,235 shares of the bank's stock valued at $247,000 after acquiring an additional 307 shares during the last quarter. KBC Group NV raised its position in Community Bank System by 23.6% during the third quarter. KBC Group NV now owns 1,816 shares of the bank's stock valued at $105,000 after purchasing an additional 347 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Community Bank System by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,088 shares of the bank's stock worth $1,373,000 after purchasing an additional 484 shares during the last quarter. 73.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Community Bank System

In other news, Director John F. Whipple sold 3,937 shares of Community Bank System stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.10, for a total transaction of $287,794.70. Following the sale, the director now owns 5,823 shares of the company's stock, valued at approximately $425,661.30. The trade was a 40.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.89% of the stock is currently owned by corporate insiders.

Community Bank System Trading Down 0.2 %

Community Bank System stock traded down $0.15 during trading hours on Friday, reaching $66.68. The company had a trading volume of 153,134 shares, compared to its average volume of 276,405. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.76 and a quick ratio of 0.76. Community Bank System, Inc. has a 12-month low of $41.50 and a 12-month high of $73.39. The company has a 50-day moving average price of $64.93 and a 200 day moving average price of $57.95. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 20.77 and a beta of 0.65.

Community Bank System (NYSE:CBU - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.83 EPS 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 firm had revenue of $188.94 million for the quarter, compared to the consensus estimate of $186.35 million. During the same quarter in the prior year, the company earned $0.82 earnings per share. The company's quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that Community Bank System, Inc. will post 3.39 earnings per share for the current year.

Community Bank System Dividend Announcement

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

Analysts Set New Price Targets

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