By otakuyassine3@gmail.com 
Teacher Retirement System of Texas increased its position in shares of Community Bank System, Inc. (NYSE:CBU – Free Report) by 13.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,655 shares of the bank’s stock after buying an additional 2,872 shares during the period. Teacher Retirement System of Texas’ holdings in Community Bank System were worth $1,521,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in Community Bank System by 99.2% during the fourth quarter. Versant Capital Management Inc now owns 478 shares of the bank’s stock valued at $29,000 after acquiring an additional 238 shares during the period. US Bancorp DE lifted its position in shares of Community Bank System by 17.1% during the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank’s stock worth $67,000 after purchasing an additional 158 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Community Bank System by 140.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank’s stock valued at $74,000 after purchasing an additional 702 shares during the period. Principal Securities Inc. grew its holdings in Community Bank System by 13.7% in the 4th quarter. Principal Securities Inc. now owns 1,774 shares of the bank’s stock valued at $109,000 after buying an additional 214 shares during the last quarter. Finally, Assetmark Inc. bought a new position in Community Bank System in the 4th quarter worth approximately $127,000. 73.79% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Piper Sandler started coverage on shares of Community Bank System in a research note on Thursday, December 5th. They issued a “neutral” rating and a $70.00 price objective on the stock. Keefe, Bruyette & Woods raised their price target on shares of Community Bank System from $74.00 to $76.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 22nd.
Read Our Latest Stock Report on CBU
Insider Buying and Selling at Community Bank System
In related news, SVP Jeffrey M. Levy sold 1,136 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $65.98, for a total transaction of $74,953.28. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.89% of the company’s stock.
Community Bank System Price Performance
Shares of NYSE:CBU opened at $56.72 on Friday. The firm has a market capitalization of $2.99 billion, a PE ratio of 16.49 and a beta of 0.66. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. Community Bank System, Inc. has a 1-year low of $41.50 and a 1-year high of $73.39. The business’s 50 day moving average is $62.31 and its 200-day moving average is $62.56.
Community Bank System (NYSE:CBU – Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates 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 previous year, the company earned $0.76 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. Sell-side analysts predict that Community Bank System, Inc. will post 4.18 earnings per share for the current 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 paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Friday, March 14th. Community Bank System’s dividend payout ratio is 53.49%.
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.
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