Centiva Capital LP Acquires New Stake in Community Bank System, Inc. (NYSE:CBU)

Centiva Capital LP bought a new position in Community Bank System, Inc. (NYSE:CBU) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,829 shares of the bank’s stock, valued at approximately $571,000.

A number of other large investors have also made changes to their positions in CBU. Point72 DIFC Ltd purchased a new position in shares of Community Bank System in the second quarter worth approximately $76,000. KBC Group NV boosted its stake in shares of Community Bank System by 23.6% during the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank’s stock worth $105,000 after acquiring an additional 347 shares during the last quarter. Stone House Investment Management LLC grew its position in shares of 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 valued at $137,000 after acquiring an additional 797 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Community Bank System by 27.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank’s stock worth $162,000 after purchasing an additional 741 shares in the last quarter. Finally, IFG Advisory LLC purchased a new position in Community Bank System during the second quarter valued at $212,000. 73.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Community Bank System

In other news, Director John F. Whipple sold 3,937 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 5,823 shares in the company, valued at $425,661.30. This trade 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. 1.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CBU has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on Community Bank System from $64.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday. Piper Sandler began coverage on shares of Community Bank System in a research note on Thursday. They set a “neutral” rating and a $70.00 target price on the stock. Finally, 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. One 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 stock. According to data from MarketBeat, Community Bank System presently has a consensus rating of “Hold” and a consensus price target of $65.25.

Community Bank System Price Performance

Shares of Community Bank System stock opened at $68.68 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.35. Community Bank System, Inc. has a 52 week low of $41.50 and a 52 week high of $73.39. The stock’s 50-day simple moving average is $63.91 and its 200-day simple moving average is $57.12. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 21.40 and a beta of 0.65.

Community Bank System (NYSE:CBU) last posted its quarterly 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). Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The business had revenue of $188.94 million during the quarter, compared to the consensus estimate of $186.35 million. During the same quarter in the previous year, the company earned $0.82 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts expect that Community Bank System, Inc. will post 3.38 earnings per share for the current fiscal year.

Community Bank System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, December 13th. This represents a $1.84 annualized dividend and a yield of 2.68%. Community Bank System’s payout ratio is 57.32%.

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.