Thrivent Financial for Lutherans Sells 2,285 Shares of Community Bank System, Inc. (NYSE:CBU)

Thrivent Financial for Lutherans lowered its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 5.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,328 shares of the bank’s stock after selling 2,285 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Community Bank System worth $2,672,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CBU. Geode Capital Management LLC raised its stake in Community Bank System by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,208,859 shares of the bank’s stock worth $70,212,000 after acquiring an additional 8,751 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Community Bank System by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,317 shares of the bank’s stock worth $40,790,000 after purchasing an additional 8,326 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Community Bank System by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank’s stock valued at $34,906,000 after purchasing an additional 34,143 shares during the last quarter. Principal Financial Group Inc. boosted its position in Community Bank System by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 254,869 shares of the bank’s stock valued at $15,720,000 after buying an additional 7,160 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake 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 buying an additional 126,700 shares during the last quarter. 73.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler assumed coverage on Community Bank System in a research note on Thursday, December 5th. They issued a “neutral” rating and a $70.00 price target for the company. Keefe, Bruyette & Woods increased their target price on 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.

Community Bank System Price Performance

CBU stock opened at $57.92 on Friday. The company has a market capitalization of $3.05 billion, a P/E ratio of 16.84 and a beta of 0.66. The company has a fifty day moving average price of $62.44 and a 200-day moving average price of $62.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. 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 announced its earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $196.30 million during the quarter, compared to analyst estimates of $190.95 million. During the same period last year, the company earned $0.76 EPS. Community Bank System’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities analysts expect that Community Bank System, Inc. will post 4.18 EPS for the current year.

Community Bank System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 14th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Friday, March 14th. Community Bank System’s payout ratio is presently 53.49%.

Insider Buying and Selling at Community Bank System

In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $65.98, for a total transaction of $74,953.28. Following the sale, the senior vice president now owns 6,539 shares of the company’s stock, valued at approximately $431,443.22. This represents a 14.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.89% of the company’s stock.

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.