Community Bank System, Inc. (NYSE:CBU) Stake Reduced by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC trimmed its stake in Community Bank System, Inc. (NYSE:CBU) by 3.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 462,660 shares of the bank’s stock after selling 17,185 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.88% of Community Bank System worth $28,537,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Community Bank System by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,208,859 shares of the bank’s stock valued at $70,212,000 after purchasing an additional 8,751 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Community Bank System by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,317 shares of the bank’s stock valued at $40,790,000 after buying an additional 8,326 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Community Bank System by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank’s stock valued at $34,906,000 after buying an additional 34,143 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Community Bank System by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 254,869 shares of the bank’s stock worth $15,720,000 after buying an additional 7,160 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Community Bank System by 699.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank’s stock valued at $8,932,000 after acquiring an additional 126,700 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CBU. Keefe, Bruyette & Woods increased their price target 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. Piper Sandler assumed coverage on shares of 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.

Insider Buying and Selling at Community Bank System

In related news, SVP Jeffrey M. Levy sold 1,136 shares of Community Bank System 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 transaction, the senior vice president now directly owns 6,539 shares in the company, valued at $431,443.22. The trade was a 14.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.89% of the stock is owned by corporate insiders.

Community Bank System Stock Up 1.3 %

Shares of CBU stock opened at $58.32 on Tuesday. Community Bank System, Inc. has a 1 year low of $41.50 and a 1 year high of $73.39. 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 business’s fifty day moving average is $62.67 and its 200-day moving average is $62.63. The stock has a market cap of $3.07 billion, a PE ratio of 16.95 and a beta of 0.66.

Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, topping 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 firm 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 business earned $0.76 earnings per share. Community Bank System’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts expect that Community Bank System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Bank System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.84 annualized dividend and a yield of 3.15%. Community Bank System’s dividend payout ratio (DPR) is 53.49%.

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.