4,895 Shares in Community Bank System, Inc. (NYSE:CBU) Acquired by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in Community Bank System, Inc. (NYSE:CBU) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,895 shares of the bank’s stock, valued at approximately $302,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CBU. Assenagon Asset Management S.A. raised its position in shares of Community Bank System by 699.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank’s stock worth $8,932,000 after purchasing an additional 126,700 shares during the period. Jane Street Group LLC raised its holdings in Community Bank System by 151.8% during the 3rd quarter. Jane Street Group LLC now owns 127,227 shares of the bank’s stock worth $7,388,000 after buying an additional 76,703 shares during the period. Barclays PLC lifted its stake in Community Bank System by 99.0% during the third quarter. Barclays PLC now owns 109,647 shares of the bank’s stock valued at $6,367,000 after buying an additional 54,554 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Community Bank System by 371.9% in the third quarter. Algert Global LLC now owns 64,193 shares of the bank’s stock worth $3,728,000 after buying an additional 50,590 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Community Bank System by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank’s stock worth $34,906,000 after buying an additional 34,143 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.

Insider Activity

In related news, SVP Jeffrey M. Levy sold 1,136 shares of Community Bank System stock in a transaction on Friday, January 24th. The shares were sold at an average price of $65.98, for a total value 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 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.

Community Bank System Stock Performance

Shares of CBU opened at $58.32 on Tuesday. The company has a market capitalization of $3.07 billion, a PE ratio of 16.95 and a beta of 0.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The company’s 50 day moving average price is $62.67 and its 200 day moving average price is $62.63. 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) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, beating the consensus estimate 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 business had revenue of $196.30 million for the quarter, compared to analysts’ expectations of $190.95 million. During the same period in the previous year, the company posted $0.76 EPS. Community Bank System’s revenue was up 10.8% on a year-over-year basis. Research analysts expect that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Dividend Announcement

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 dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, March 14th. Community Bank System’s dividend payout ratio (DPR) is presently 53.49%.

Analysts Set New Price Targets

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

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.