Community Bank System, Inc. (NYSE:CBU) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC grew its stake in shares of Community Bank System, Inc. (NYSE:CBU - Free Report) by 48.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,866 shares of the bank's stock after acquiring an additional 10,060 shares during the quarter. Tidal Investments LLC owned about 0.06% of Community Bank System worth $1,792,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Citizens & Northern Corp acquired a new stake in Community Bank System during the second quarter valued at $398,000. Ausbil Investment Management Ltd lifted its stake in Community Bank System by 494.7% in the 3rd quarter. Ausbil Investment Management Ltd now owns 30,552 shares of the bank's stock valued at $1,774,000 after buying an additional 25,415 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Community Bank System by 56.1% in the third quarter. BNP Paribas Financial Markets now owns 22,582 shares of the bank's stock worth $1,311,000 after acquiring an additional 8,113 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Community Bank System by 9.5% during the third quarter. Citigroup Inc. now owns 96,742 shares of the bank's stock worth $5,618,000 after buying an additional 8,356 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Community Bank System by 17.6% during the 2nd quarter. Renaissance Technologies LLC now owns 80,008 shares of the bank's stock valued at $3,777,000 after acquiring an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company's stock.

Community Bank System Stock Down 3.5 %

Shares of NYSE:CBU opened at $65.20 on Wednesday. The firm has a fifty day moving average price of $65.14 and a 200 day moving average price of $58.11. Community Bank System, Inc. has a 1-year low of $41.50 and a 1-year high of $73.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market cap of $3.43 billion, a P/E ratio of 20.31 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.05). The firm had revenue of $188.94 million for the quarter, compared to analysts' expectations of $186.35 million. Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 earnings per share. Sell-side analysts predict that Community Bank System, Inc. will post 3.39 EPS for the current year.

Community Bank System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.84 annualized dividend and a yield of 2.82%. Community Bank System's dividend payout ratio (DPR) is currently 57.32%.

Analyst Ratings Changes

Several research firms have issued reports on CBU. Piper Sandler assumed coverage on shares of Community Bank System in a report on Thursday, December 5th. They issued a "neutral" rating and a $70.00 price objective on the stock. Raymond James raised 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. Finally, Keefe, Bruyette & Woods increased their target price on Community Bank System from $64.00 to $74.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Community Bank System currently has an average rating of "Hold" and a consensus target price of $65.25.

Insider Buying and Selling

In other news, Director John F. Whipple sold 3,937 shares of Community Bank System stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.10, for a total value of $287,794.70. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.89% of the company's stock.

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.