Pathway Financial Advisors LLC Reduces Position in Community Bank System, Inc. (NYSE:CBU)

Pathway Financial Advisors LLC trimmed its position in Community Bank System, Inc. (NYSE:CBU - Free Report) by 60.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,014 shares of the bank's stock after selling 6,190 shares during the quarter. Pathway Financial Advisors LLC's holdings in Community Bank System were worth $248,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Community Bank System by 0.7% in the third 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. grew its position in Community Bank System by 1.5% in the third 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 in the last quarter. Assenagon Asset Management S.A. grew its position in Community Bank System by 699.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank's stock worth $8,932,000 after acquiring an additional 126,700 shares in the last quarter. Jane Street Group LLC grew its position in Community Bank System by 151.8% in the third quarter. Jane Street Group LLC now owns 127,227 shares of the bank's stock worth $7,388,000 after acquiring an additional 76,703 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Community Bank System by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 112,377 shares of the bank's stock worth $6,526,000 after acquiring an additional 1,587 shares in the last quarter. 73.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CBU shares. Raymond James upgraded Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 target price for the company in a research report on Monday, October 28th. Piper Sandler started coverage on Community Bank System in a research report on Thursday, December 5th. They set a "neutral" rating and a $70.00 target price for the company. Finally, Keefe, Bruyette & Woods boosted their target price on 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.

Community Bank System Trading Down 0.4 %

Shares of NYSE CBU traded down $0.27 during trading hours on Wednesday, reaching $65.26. The stock had a trading volume of 54,027 shares, compared to its average volume of 208,376. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 18.99 and a beta of 0.67. The business's fifty day moving average price is $63.98 and its two-hundred day moving average price is $62.42. 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 issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.04. The company had revenue of $196.30 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 14th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Friday, March 14th. Community Bank System's dividend payout ratio (DPR) is 53.49%.

Insider Buying and Selling

In related news, Director John F. Whipple sold 3,937 shares of the business'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 value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jeffrey M. Levy sold 1,136 shares of the company's stock in a transaction on Friday, January 24th. The stock was 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. The trade was a 14.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.78% of the stock is currently owned by insiders.

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.