Victory Capital Management Inc. Sells 11,856 Shares of Community Bank System, Inc. (NYSE:CBU)

Victory Capital Management Inc. decreased its position in Community Bank System, Inc. (NYSE:CBU - Free Report) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,172 shares of the bank's stock after selling 11,856 shares during the quarter. Victory Capital Management Inc. owned about 0.26% of Community Bank System worth $8,276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CBU. Versant Capital Management Inc grew its position in Community Bank System by 99.2% during the fourth quarter. Versant Capital Management Inc now owns 478 shares of the bank's stock worth $29,000 after buying an additional 238 shares in the last quarter. US Bancorp DE grew its position in Community Bank System by 17.1% during the fourth quarter. US Bancorp DE now owns 1,081 shares of the bank's stock worth $67,000 after buying an additional 158 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Community Bank System by 140.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank's stock worth $74,000 after buying an additional 702 shares in the last quarter. KBC Group NV grew 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 worth $105,000 after buying an additional 347 shares in the last quarter. Finally, Principal Securities Inc. grew its position in Community Bank System by 13.7% during the fourth quarter. Principal Securities Inc. now owns 1,774 shares of the bank's stock worth $109,000 after buying an additional 214 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CBU shares. Piper Sandler started coverage on Community Bank System in a research note on Thursday, December 5th. They set a "neutral" rating and a $70.00 target price for the company. Keefe, Bruyette & Woods upped their target price 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.

Community Bank System Price Performance

NYSE CBU traded up $0.99 on Tuesday, hitting $58.11. 302,496 shares of the company's stock were exchanged, compared to its average volume of 243,235. Community Bank System, Inc. has a 52 week low of $41.50 and a 52 week high of $73.39. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 16.89 and a beta of 0.66. 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 stock has a 50-day moving average of $62.97 and a 200-day moving average of $62.75.

Community Bank System (NYSE:CBU - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.04. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The company had revenue of $196.30 million during the quarter, compared to analysts' expectations of $190.95 million. During the same period in the prior year, the company earned $0.76 EPS. Community Bank System's revenue was up 10.8% compared to the same quarter last year. Analysts expect that Community Bank System, Inc. will post 4.18 earnings per share for the current year.

Community Bank System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders 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 dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, March 14th. Community Bank System's payout ratio is 53.49%.

Insider Activity

In other news, SVP Jeffrey M. Levy sold 1,136 shares of the 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 completion of the transaction, the senior vice president now directly owns 6,539 shares in the company, valued at approximately $431,443.22. This represents a 14.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.89% of the stock is owned by corporate insiders.

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.