Crossmark Global Holdings Inc. Invests $207,000 in Community Bank System, Inc. (NYSE:CBU)

Crossmark Global Holdings Inc. purchased a new position in Community Bank System, Inc. (NYSE:CBU) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,361 shares of the bank’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Carnegie Investment Counsel lifted its holdings 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 in the last quarter. Park Avenue Securities LLC purchased a new stake in Community Bank System in the fourth quarter valued at approximately $226,000. Assenagon Asset Management S.A. raised its stake in Community Bank System by 699.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank’s stock valued at $8,932,000 after purchasing an additional 126,700 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Community Bank System by 6.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 52,767 shares of the bank’s stock valued at $3,064,000 after purchasing an additional 3,085 shares in the last quarter. Finally, Fulton Bank N.A. raised its stake in Community Bank System by 17.7% in the fourth quarter. Fulton Bank N.A. now owns 9,506 shares of the bank’s stock valued at $586,000 after purchasing an additional 1,428 shares in the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John F. Whipple sold 3,937 shares of the business’s stock in a transaction dated 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 approximately $425,661.30. The trade was a 40.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.89% of the stock is currently owned by corporate insiders.

Community Bank System Stock Performance

NYSE CBU opened at $66.24 on Tuesday. The company has a 50-day simple moving average of $64.97 and a two-hundred day simple moving average of $61.72. 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 $3.48 billion, a price-to-earnings ratio of 19.26 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.

Community Bank System (NYSE:CBU) last released its earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The company had revenue of $196.30 million during the quarter, compared to analyst estimates of $190,950 billion. During the same quarter in the previous year, the company posted $0.76 EPS. Community Bank System’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts forecast that Community Bank System, Inc. will post 4.01 EPS for the current year.

Community Bank System Announces Dividend

The business also recently announced 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. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, March 14th. Community Bank System’s dividend payout ratio (DPR) is presently 53.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CBU shares. Keefe, Bruyette & Woods raised 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 research note on Wednesday, January 22nd. 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 target price on the stock. Finally, Raymond James raised shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 target price on the stock in a research note on Monday, October 28th.

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.