Zurcher Kantonalbank Zurich Cantonalbank Has $880,000 Stock Position in Community Bank System, Inc. (NYSE:CBU)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 16.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,274 shares of the bank’s stock after buying an additional 2,052 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Community Bank System were worth $880,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi lifted its holdings in Community Bank System by 186.5% during the 4th quarter. Amundi now owns 26,504 shares of the bank’s stock valued at $1,603,000 after purchasing an additional 17,254 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Community Bank System during the 4th quarter worth about $687,000. Atria Investments Inc boosted its holdings in shares of Community Bank System by 16.0% during the 4th quarter. Atria Investments Inc now owns 8,839 shares of the bank’s stock worth $545,000 after buying an additional 1,218 shares during the period. Assetmark Inc. acquired a new position in Community Bank System in the 4th quarter valued at about $127,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Community Bank System by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,317 shares of the bank’s stock valued at $40,790,000 after acquiring an additional 8,326 shares during the period. 73.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CBU. Piper Sandler assumed coverage on Community Bank System in a research report on Thursday, December 5th. They issued a “neutral” rating and a $70.00 target price on the stock. Keefe, Bruyette & Woods upped their price objective on Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a report on Wednesday, January 22nd.

Insider Activity at Community Bank System

In related news, SVP Jeffrey M. Levy sold 1,136 shares of Community Bank System stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $65.98, for a total value of $74,953.28. Following the transaction, the senior vice president now directly owns 6,539 shares of the company’s stock, valued at $431,443.22. This trade represents a 14.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.89% of the stock is owned by insiders.

Community Bank System Stock Performance

NYSE CBU opened at $57.16 on Friday. Community Bank System, Inc. has a 12-month low of $41.50 and a 12-month high of $73.39. The firm has a 50-day moving average price of $62.72 and a two-hundred day moving average price of $62.63. The company has a market capitalization of $3.01 billion, a P/E ratio of 16.62 and a beta of 0.66. 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 issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $196.30 million for the quarter, compared to the consensus estimate of $190.95 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. Analysts anticipate that Community Bank System, Inc. will post 4.18 earnings per share for the current year.

Community Bank System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors 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 yield of 3.22%. The ex-dividend date is Friday, March 14th. Community Bank System’s dividend payout ratio (DPR) is presently 53.49%.

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.