Xponance Inc. Takes Position in Community Bank System, Inc. (NYSE:CBU)

Xponance Inc. bought a new position in shares of Community Bank System, Inc. (NYSE:CBU) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,764 shares of the bank’s stock, valued at approximately $232,000.

A number of other large investors also recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in Community Bank System by 99.0% during the 3rd quarter. Barclays PLC now owns 109,647 shares of the bank’s stock valued at $6,367,000 after buying an additional 54,554 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Community Bank System by 56.1% during the third quarter. BNP Paribas Financial Markets now owns 22,582 shares of the bank’s stock valued at $1,311,000 after acquiring an additional 8,113 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Community Bank System by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 254,869 shares of the bank’s stock valued at $15,720,000 after acquiring an additional 7,160 shares during the last quarter. Citigroup Inc. lifted its stake in Community Bank System by 9.5% in the 3rd quarter. Citigroup Inc. now owns 96,742 shares of the bank’s stock worth $5,618,000 after purchasing an additional 8,356 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Community Bank System by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 652,991 shares of the bank’s stock valued at $37,919,000 after purchasing an additional 9,863 shares in the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $65.98, for a total transaction of $74,953.28. Following the completion of the transaction, the senior vice president now owns 6,539 shares in the company, valued at $431,443.22. The trade was a 14.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.89% of the company’s stock.

Community Bank System Stock Down 2.0 %

Shares of NYSE:CBU opened at $56.72 on Friday. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 16.49 and a beta of 0.66. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month 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 company has a 50-day moving average price of $62.31 and a 200 day moving average price of $62.56.

Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.94 earnings per share (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 $190.95 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. As a group, equities research analysts predict that Community Bank System, Inc. will post 4.18 earnings per share for the current year.

Community Bank System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders 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 yield of 3.24%. The ex-dividend date is Friday, March 14th. Community Bank System’s payout ratio is 53.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler initiated coverage on Community Bank System in a research note on Thursday, December 5th. They set a “neutral” rating and a $70.00 price target for the company. Keefe, Bruyette & Woods increased their target price on Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a research report on Wednesday, January 22nd.

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.