Community Bank System, Inc. (NYSE:CBU) Stock Position Trimmed by Inspire Investing LLC

Inspire Investing LLC trimmed its position in shares of Community Bank System, Inc. (NYSE:CBU) by 8.8% in the fourth quarter, HoldingsChannel reports. The firm owned 6,499 shares of the bank’s stock after selling 626 shares during the period. Inspire Investing LLC’s holdings in Community Bank System were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in shares of Community Bank System by 16.8% during the second quarter. Envestnet Asset Management Inc. now owns 55,679 shares of the bank’s stock worth $2,629,000 after buying an additional 8,027 shares during the period. Renaissance Technologies LLC raised its stake in Community Bank System by 17.6% during the 2nd quarter. Renaissance Technologies LLC now owns 80,008 shares of the bank’s stock valued at $3,777,000 after acquiring an additional 12,000 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Community Bank System by 41.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 9,935 shares of the bank’s stock worth $469,000 after acquiring an additional 2,912 shares during the period. Profund Advisors LLC grew its stake in shares of Community Bank System by 15.9% in the second quarter. Profund Advisors LLC now owns 5,059 shares of the bank’s stock worth $239,000 after purchasing an additional 694 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Community Bank System during the second quarter valued at $538,000. Institutional investors own 73.79% of the company’s stock.

Community Bank System Price Performance

Shares of Community Bank System stock opened at $65.50 on Monday. Community Bank System, Inc. has a 52 week low of $41.50 and a 52 week high of $73.39. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The stock has a market cap of $3.44 billion, a PE ratio of 19.04 and a beta of 0.67. The company’s 50-day moving average price is $65.01 and its two-hundred day moving average price is $61.62.

Community Bank System (NYSE:CBU) last released 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 business had revenue of $196.30 million during the quarter, compared to analyst estimates of $190,950 billion. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 earnings per share. As a group, sell-side analysts anticipate that Community Bank System, Inc. will post 4.01 EPS for the current fiscal 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 dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Friday, March 14th. Community Bank System’s dividend payout ratio is presently 53.49%.

Analyst Ratings Changes

CBU has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped 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 report on Wednesday, January 22nd. Piper Sandler assumed coverage on shares of Community Bank System in a report on Thursday, December 5th. They issued a “neutral” rating and a $70.00 price objective for the company. Finally, Raymond James raised 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 report on Monday, October 28th.

Insider Buying and Selling

In other news, 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 transaction of $287,794.70. Following the completion of the sale, the director now directly owns 5,823 shares of the company’s stock, valued at $425,661.30. This represents a 40.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.89% of the company’s stock.

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.