Y Intercept Hong Kong Ltd Invests $451,000 in Community Bank System, Inc. (NYSE:CBU)

Y Intercept Hong Kong Ltd acquired a new stake in Community Bank System, Inc. (NYSE:CBU - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,759 shares of the bank's stock, valued at approximately $451,000.

A number of other large investors have also added to or reduced their stakes in CBU. Point72 DIFC Ltd acquired a new position in Community Bank System during the 2nd quarter worth about $76,000. KBC Group NV raised its position in shares of 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 acquiring an additional 347 shares during the last quarter. Stone House Investment Management LLC lifted its stake in shares of Community Bank System by 51.0% in the third quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank's stock worth $137,000 after acquiring an additional 797 shares during the period. Benjamin Edwards Inc. boosted its holdings in Community Bank System by 27.5% in the second quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank's stock valued at $162,000 after acquiring an additional 741 shares during the last quarter. Finally, Harbor Advisors LLC acquired a new stake in Community Bank System during the 3rd quarter valued at approximately $236,000. Institutional investors own 73.79% of the company's stock.

Community Bank System Trading Up 1.2 %

Shares of CBU stock traded up $0.82 during trading hours on Monday, hitting $67.50. 189,381 shares of the company were exchanged, compared to its average volume of 276,045. The company has a 50 day simple moving average of $65.14 and a two-hundred day simple moving average of $58.11. The firm has a market cap of $3.55 billion, a P/E ratio of 21.03 and a beta of 0.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 0.76. Community Bank System, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $73.39.

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 for the quarter, missing the consensus estimate of $0.88 by ($0.05). The company had revenue of $188.94 million during the quarter, compared to the consensus estimate of $186.35 million. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.82 earnings per share. Equities analysts anticipate that Community Bank System, Inc. will post 3.39 EPS for the current year.

Community Bank System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, December 13th. Community Bank System's dividend payout ratio (DPR) is currently 57.32%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Raymond James upgraded shares of Community Bank System from a "market perform" rating to a "strong-buy" rating and set a $67.00 price target on the stock in a research report on Monday, October 28th. 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 target price for the company. Finally, Keefe, Bruyette & Woods upped their price target on shares of Community Bank System from $64.00 to $74.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. One 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $65.25.

Insiders Place Their Bets

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $73.10, for a total transaction of $287,794.70. Following the transaction, the director now owns 5,823 shares in the company, valued at approximately $425,661.30. This represents a 40.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate 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.