Smartleaf Asset Management LLC Purchases 702 Shares of Community Bank System, Inc. (NYSE:CBU)

Smartleaf Asset Management LLC increased its position in shares of Community Bank System, Inc. (NYSE:CBU) by 140.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,203 shares of the bank’s stock after buying an additional 702 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Community Bank System were worth $74,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CBU. Versant Capital Management Inc grew its stake in shares of Community Bank System by 99.2% during the 4th quarter. Versant Capital Management Inc now owns 478 shares of the bank’s stock worth $29,000 after acquiring an additional 238 shares in the last quarter. US Bancorp DE grew its position in Community Bank System by 17.1% in the fourth quarter. US Bancorp DE now owns 1,081 shares of the bank’s stock valued at $67,000 after purchasing an additional 158 shares in the last quarter. Principal Securities Inc. increased its stake in Community Bank System by 13.7% in the 4th quarter. Principal Securities Inc. now owns 1,774 shares of the bank’s stock valued at $109,000 after buying an additional 214 shares during the last quarter. KBC Group NV increased its stake in Community Bank System by 23.6% in the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after buying an additional 347 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in Community Bank System during the 4th quarter worth about $141,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler initiated coverage on shares of Community Bank System in a research note on Thursday, December 5th. They set a “neutral” rating and a $70.00 price objective for the company. Keefe, Bruyette & Woods raised their price target on Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a research note on Wednesday, January 22nd.

Insider Activity at Community Bank System

In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $65.98, for a total transaction of $74,953.28. Following the completion of the sale, the senior vice president now owns 6,539 shares of the company’s stock, valued at $431,443.22. This trade represents a 14.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.89% of the stock is owned by company insiders.

Community Bank System Stock Performance

Shares of CBU opened at $59.60 on Monday. The company has a market cap of $3.14 billion, a PE ratio of 17.33 and a beta of 0.66. The firm has a 50-day moving average of $63.46 and a 200-day moving average of $62.86. Community Bank System, Inc. has a one year low of $41.50 and a one year high of $73.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76.

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

Community Bank System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, March 14th. This represents a $1.84 annualized dividend and a dividend yield of 3.09%. Community Bank System’s dividend payout ratio is currently 53.49%.

About Community Bank System

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.