Wealth Enhancement Advisory Services LLC Has $3.06 Million Stake in Community Bank System, Inc. (NYSE:CBU)

Wealth Enhancement Advisory Services LLC lifted its stake in Community Bank System, Inc. (NYSE:CBU) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,767 shares of the bank’s stock after purchasing an additional 3,085 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Community Bank System were worth $3,064,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Versant Capital Management Inc lifted its stake in Community Bank System by 99.2% in the fourth quarter. Versant Capital Management Inc now owns 478 shares of the bank’s stock valued at $29,000 after buying an additional 238 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Community Bank System in the 2nd quarter valued at about $76,000. KBC Group NV raised its position in shares of Community Bank System by 23.6% in the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after acquiring an additional 347 shares during the period. Stone House Investment Management LLC boosted its stake in Community Bank System by 51.0% during the 3rd quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank’s stock worth $137,000 after acquiring an additional 797 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in Community Bank System by 27.5% during the second quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank’s stock valued at $162,000 after purchasing an additional 741 shares during the period. Institutional investors own 73.79% of the company’s stock.

Insider Activity

In other news, Director John F. Whipple sold 3,937 shares of the 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. This represents a 40.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CBU has been the topic of a number of recent analyst reports. Piper Sandler initiated coverage on shares of Community Bank System in a research report on Thursday, December 5th. They set a “neutral” rating and a $70.00 price target on the stock. Keefe, Bruyette & Woods lifted their target price on Community Bank System from $64.00 to $74.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Raymond James raised Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 target price for the company in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Community Bank System presently has an average rating of “Hold” and an average target price of $65.25.

Community Bank System Price Performance

Community Bank System stock opened at $61.47 on Wednesday. The firm has a market cap of $3.23 billion, a PE ratio of 19.15 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.76 and a quick ratio of 0.76. The stock’s fifty day moving average price is $65.85 and its two-hundred day moving average price is $60.64. Community Bank System, Inc. has a one year low of $41.50 and a one year high of $73.39.

Community Bank System (NYSE:CBU) last released its earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.05). The business had revenue of $188.94 million for the quarter, compared to the consensus estimate of $186.35 million. Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 earnings per share. As a group, research analysts expect that Community Bank System, Inc. will post 3.39 EPS for the current fiscal year.

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.