Invesco LLC Raises Stock Position in Community Bank System, Inc. (NYSE:CBU)

Invesco LLC lifted its stake in Community Bank System, Inc. (NYSE:CBU) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,763 shares of the bank’s stock after purchasing an additional 442 shares during the period. Invesco LLC’s holdings in Community Bank System were worth $417,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Versant Capital Management Inc lifted its holdings in Community Bank System by 99.2% in the fourth quarter. Versant Capital Management Inc now owns 478 shares of the bank’s stock worth $29,000 after buying an additional 238 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Community Bank System in the 2nd quarter valued at approximately $76,000. KBC Group NV boosted its position in shares of Community Bank System by 23.6% during the third quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after purchasing an additional 347 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in Community Bank System in the fourth quarter worth $141,000. Finally, Stone House Investment Management LLC raised its holdings in Community Bank System by 51.0% in the third quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank’s stock worth $137,000 after purchasing an additional 797 shares in the last quarter. Institutional investors own 73.79% of the company’s stock.

Insider Activity at Community Bank System

In other 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 transaction of $74,953.28. Following the transaction, the senior vice president now owns 6,539 shares in the company, valued at $431,443.22. This trade represents a 14.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John F. Whipple sold 3,937 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.10, for a total value of $287,794.70. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 1.89% of the stock is currently owned by insiders.

Community Bank System Stock Down 0.0 %

Community Bank System stock traded down $0.00 during mid-day trading on Wednesday, reaching $65.34. The stock had a trading volume of 9,048 shares, compared to its average volume of 227,015. Community Bank System, Inc. has a one year low of $41.50 and a one year high of $73.39. The company has a 50-day moving average price of $64.91 and a two-hundred day moving average price of $61.82. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 19.09 and a beta of 0.67. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76.

Community Bank System (NYSE:CBU) last issued 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 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 the consensus estimate of $190.95 million. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, analysts expect that Community Bank System, Inc. will post 4.01 EPS 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. Stockholders of record on Friday, March 14th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Friday, March 14th. Community Bank System’s payout ratio is currently 53.49%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CBU. Piper Sandler initiated coverage on shares of Community Bank System in a report on Thursday, December 5th. They set a “neutral” rating and a $70.00 target price on the stock. Raymond James upgraded shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective on the stock in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a report on Wednesday, January 22nd.

Community Bank System Company 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.