Community Bank System, Inc. (NYSE:CBU) Shares Sold by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA reduced its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,188 shares of the bank’s stock after selling 455 shares during the quarter. Berkshire Asset Management LLC PA owned 0.10% of Community Bank System worth $3,492,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of Community Bank System by 99.2% during the fourth quarter. Versant Capital Management Inc now owns 478 shares of the bank’s stock worth $29,000 after purchasing an additional 238 shares in the last quarter. US Bancorp DE lifted its position in Community Bank System by 17.1% during the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank’s stock worth $67,000 after acquiring an additional 158 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Community Bank System by 140.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank’s stock valued at $74,000 after acquiring an additional 702 shares in the last quarter. KBC Group NV raised its stake in shares of Community Bank System by 23.6% during the third quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after purchasing an additional 347 shares during the period. Finally, Principal Securities Inc. boosted its stake in Community Bank System by 13.7% during the 4th quarter. Principal Securities Inc. now owns 1,774 shares of the bank’s stock valued at $109,000 after acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. 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 research note on Wednesday, January 22nd. 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.

Community Bank System Price Performance

Shares of Community Bank System stock opened at $59.59 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a fifty day moving average price of $63.59 and a two-hundred day moving average price of $62.85. Community Bank System, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $73.39. The company has a market cap of $3.13 billion, a PE ratio of 17.32 and a beta of 0.67.

Community Bank System (NYSE:CBU) last announced its earnings results on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The company had revenue of $196.30 million for the quarter, compared to analysts’ expectations of $190.95 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts expect that Community Bank System, Inc. will post 4.18 EPS for the current year.

Community Bank System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 14th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, March 14th. Community Bank System’s dividend payout ratio (DPR) is currently 53.49%.

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 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 sale, the senior vice president now owns 6,539 shares of the company’s stock, valued at approximately $431,443.22. The trade was a 14.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.89% of the stock is owned by company insiders.

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.