Rhumbline Advisers cut its holdings in Community Bank System, Inc. (NYSE:CBU - Free Report) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,948 shares of the bank's stock after selling 4,936 shares during the quarter. Rhumbline Advisers owned 0.30% of Community Bank System worth $9,681,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its position in Community Bank System by 19.9% during the third quarter. QRG Capital Management Inc. now owns 5,867 shares of the bank's stock valued at $341,000 after purchasing an additional 972 shares during the period. Atria Investments Inc lifted its holdings in shares of Community Bank System by 30.6% during the 3rd quarter. Atria Investments Inc now owns 7,621 shares of the bank's stock valued at $443,000 after buying an additional 1,787 shares during the period. KBC Group NV boosted its stake in shares of Community Bank System by 23.6% in the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank's stock worth $105,000 after buying an additional 347 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Community Bank System by 10.0% in the third quarter. Natixis Advisors LLC now owns 13,488 shares of the bank's stock worth $783,000 after acquiring an additional 1,228 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Community Bank System in the third quarter worth $1,551,000. 73.79% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have weighed in on CBU. Piper Sandler assumed coverage on Community Bank System in a report on Thursday, December 5th. They issued a "neutral" rating and a $70.00 target price on the stock. Keefe, Bruyette & Woods increased their price objective on shares of 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.
Check Out Our Latest Report on Community Bank System
Community Bank System Stock Performance
NYSE CBU traded up $0.11 on Friday, hitting $63.23. 325,304 shares of the company traded hands, compared to its average volume of 210,301. 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 business's 50 day moving average price is $63.66 and its 200-day moving average price is $62.69. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 18.38 and a beta of 0.67. 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 posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.04. The firm had revenue of $196.30 million for the quarter, compared to analysts' expectations of $190.95 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. Equities analysts expect that Community Bank System, Inc. will post 4.18 earnings per share for the current year.
Community Bank System Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders 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 annualized dividend and a dividend yield of 2.91%. Community Bank System's payout ratio is 53.49%.
Insider Activity at Community Bank System
In related news, SVP Jeffrey M. Levy sold 1,136 shares of the business'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 value of $74,953.28. Following the transaction, the senior vice president now directly owns 6,539 shares of the company's stock, valued at approximately $431,443.22. The trade was a 14.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.89% of the stock is owned by corporate insiders.
About Community Bank System
(
Free Report)
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.
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