IFG Advisory LLC Takes Position in Community Bank System, Inc. (NYSE:CBU)

IFG Advisory LLC purchased a new stake in Community Bank System, Inc. (NYSE:CBU) during the second quarter, according to its most recent filing with the SEC. The firm purchased 4,500 shares of the bank’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CBU. Benjamin Edwards Inc. raised its stake in Community Bank System by 40.7% during the 1st quarter. Benjamin Edwards Inc. now owns 2,695 shares of the bank’s stock worth $129,000 after buying an additional 780 shares during the period. TFO Wealth Partners LLC raised its position in shares of Community Bank System by 37,162.5% during the fourth quarter. TFO Wealth Partners LLC now owns 2,981 shares of the bank’s stock worth $155,000 after purchasing an additional 2,973 shares during the period. Atria Wealth Solutions Inc. bought a new position in shares of Community Bank System during the 4th quarter valued at about $206,000. Avantax Advisory Services Inc. acquired a new position in shares of Community Bank System in the 4th quarter valued at approximately $208,000. Finally, Olympiad Research LP bought a new stake in Community Bank System during the 4th quarter worth approximately $214,000. Institutional investors own 73.79% of the company’s stock.

Insider Activity at Community Bank System

In other Community Bank System news, CEO Dimitar Karaivanov purchased 1,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were purchased at an average cost of $43.52 per share, with a total value of $43,520.00. Following the transaction, the chief executive officer now directly owns 19,653 shares of the company’s stock, valued at approximately $855,298.56. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.89% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered shares of Community Bank System from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th.

Community Bank System Stock Performance

Shares of Community Bank System stock opened at $61.16 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 19.23 and a beta of 0.65. The stock’s 50-day moving average is $55.86 and its 200-day moving average is $49.05. Community Bank System, Inc. has a one year low of $35.38 and a one year high of $63.95.

Community Bank System (NYSE:CBU) last released its earnings results on Tuesday, July 23rd. The bank reported $0.95 EPS for the quarter, beating the consensus estimate of $0.81 by $0.14. The firm had revenue of $183.80 million for the quarter, compared to analysts’ expectations of $180.05 million. Community Bank System had a return on equity of 8.94% and a net margin of 15.90%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. Equities analysts predict that Community Bank System, Inc. will post 3.34 earnings per share for the current fiscal year.

Community Bank System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 13th will be issued a dividend of $0.46 per share. This is a boost from Community Bank System’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.84 annualized dividend and a yield of 3.01%. Community Bank System’s dividend payout ratio is presently 57.86%.

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.