Community Bank System, Inc. (NYSE:CBU) Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,499 shares of the bank’s stock after selling 626 shares during the period. Inspire Investing LLC’s holdings in Community Bank System were worth $401,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its position in Community Bank System by 1.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 50,322 shares of the bank’s stock worth $3,104,000 after purchasing an additional 499 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Community Bank System during the fourth quarter worth about $207,000. Carnegie Investment Counsel boosted its position in shares of Community Bank System by 11.4% in the fourth quarter. Carnegie Investment Counsel now owns 55,445 shares of the bank’s stock worth $3,420,000 after buying an additional 5,688 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of Community Bank System in the fourth quarter valued at about $226,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Community Bank System by 699.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank’s stock valued at $8,932,000 after buying an additional 126,700 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Community Bank System Price Performance

CBU stock opened at $65.50 on Monday. The company has a market capitalization of $3.44 billion, a PE ratio of 19.04 and a beta of 0.67. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The stock’s 50 day moving average is $65.01 and its two-hundred day moving average is $61.62. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The firm had revenue of $196.30 million for the quarter, compared to analysts’ expectations of $190,950 billion. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. Analysts predict that Community Bank System, Inc. will post 4.01 earnings per share for the current fiscal year.

Community Bank System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 14th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.84 annualized dividend and a dividend yield of 2.81%. Community Bank System’s payout ratio is 53.49%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CBU. Keefe, Bruyette & Woods upped their price target on Community Bank System from $74.00 to $76.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd. Piper Sandler assumed coverage on shares of Community Bank System in a research note on Thursday, December 5th. They issued a “neutral” rating and a $70.00 target price for the company. Finally, Raymond James raised 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 note on Monday, October 28th.

Insider Activity at Community Bank System

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was 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 of the company’s stock, valued at $425,661.30. This trade represents a 40.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.89% of the stock is owned by corporate insiders.

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.