Zurcher Kantonalbank Zurich Cantonalbank Buys 2,052 Shares of Community Bank System, Inc. (NYSE:CBU)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,274 shares of the bank’s stock after buying an additional 2,052 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Community Bank System were worth $880,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Amundi increased its holdings in Community Bank System by 186.5% in the 4th quarter. Amundi now owns 26,504 shares of the bank’s stock worth $1,603,000 after purchasing an additional 17,254 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Community Bank System during the fourth quarter worth about $687,000. Atria Investments Inc increased its stake in shares of Community Bank System by 16.0% in the fourth quarter. Atria Investments Inc now owns 8,839 shares of the bank’s stock valued at $545,000 after buying an additional 1,218 shares during the period. Assetmark Inc. acquired a new position in shares of Community Bank System in the fourth quarter valued at approximately $127,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Community Bank System by 1.3% in the 4th 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. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Bank System Price Performance

CBU stock opened at $57.16 on Friday. 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 company’s fifty day simple moving average is $62.72 and its 200 day simple moving average is $62.63. Community Bank System, Inc. has a 12-month low of $41.50 and a 12-month high of $73.39. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 16.62 and a beta of 0.66.

Community Bank System (NYSE:CBU) last announced its 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. The company had revenue of $196.30 million for the quarter, compared to analyst estimates of $190.95 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 EPS. On average, analysts expect that Community Bank System, Inc. will post 4.18 earnings per share for the current year.

Community Bank System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 14th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.84 annualized dividend and a dividend yield of 3.22%. Community Bank System’s dividend payout ratio is currently 53.49%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CBU shares. Piper Sandler started coverage on shares of Community Bank System in a research report on Thursday, December 5th. They issued a “neutral” rating and a $70.00 price target for the company. Keefe, Bruyette & Woods boosted their price objective on shares of 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.

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 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 directly owns 6,539 shares in the company, valued at approximately $431,443.22. This trade represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.89% of the stock is owned by corporate insiders.

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.