Insider Selling: Community Bank System, Inc. (NYSE:CBU) SVP Sells $74,953.28 in Stock

Community Bank System, Inc. (NYSE:CBU) SVP Jeffrey M. Levy sold 1,136 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were 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 directly owns 6,539 shares in the company, valued at approximately $431,443.22. This represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Community Bank System Trading Up 0.9 %

Shares of Community Bank System stock opened at $65.60 on Friday. Community Bank System, Inc. has a 1 year low of $41.50 and a 1 year 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 firm has a market capitalization of $3.45 billion, a PE ratio of 19.07 and a beta of 0.67. The firm’s 50 day moving average is $64.79 and its 200 day moving average is $61.87.

Community Bank System (NYSE:CBU) last posted its earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The firm had revenue of $196.30 million for the quarter, compared to analyst estimates of $190.95 million. During the same period in the previous year, the firm posted $0.76 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts forecast that Community Bank System, Inc. will post 4.01 earnings per share for the current fiscal year.

Community Bank System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, March 14th. Community Bank System’s payout ratio is 53.49%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CBU. Raymond James raised shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a report on Monday, October 28th. Piper Sandler began coverage on shares of Community Bank System in a report on Thursday, December 5th. They set a “neutral” rating and a $70.00 price target on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a report on Wednesday, January 22nd.

Institutional Investors Weigh In On Community Bank System

A number of institutional investors have recently added to or reduced their stakes in CBU. Envestnet Asset Management Inc. grew its holdings in Community Bank System by 16.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 55,679 shares of the bank’s stock worth $2,629,000 after acquiring an additional 8,027 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Community Bank System in the 2nd quarter worth approximately $538,000. Dark Forest Capital Management LP acquired a new position in shares of Community Bank System in the 2nd quarter worth approximately $231,000. The Manufacturers Life Insurance Company lifted its position in shares of Community Bank System by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,088 shares of the bank’s stock worth $1,373,000 after purchasing an additional 484 shares during the period. Finally, Algert Global LLC acquired a new position in shares of Community Bank System in the 2nd quarter worth approximately $642,000. 73.79% of the stock is owned by institutional investors.

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.