Intech Investment Management LLC Raises Holdings in Community Bank System, Inc. (NYSE:CBU)

Intech Investment Management LLC grew its position in shares of Community Bank System, Inc. (NYSE:CBU) by 52.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,794 shares of the bank’s stock after buying an additional 6,465 shares during the period. Intech Investment Management LLC’s holdings in Community Bank System were worth $1,159,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in Community Bank System by 99.2% during the 4th 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 holdings 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 purchasing an additional 158 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Community Bank System by 140.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank’s stock worth $74,000 after purchasing an additional 702 shares in the last quarter. Principal Securities Inc. lifted its holdings in Community Bank System by 13.7% during the 4th quarter. Principal Securities Inc. now owns 1,774 shares of the bank’s stock worth $109,000 after purchasing an additional 214 shares in the last quarter. Finally, Assetmark Inc. purchased a new stake in Community Bank System during the 4th quarter worth about $127,000. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Community Bank System Stock Performance

NYSE:CBU opened at $57.41 on Friday. The business’s 50-day moving average price is $62.70 and its two-hundred day moving average price is $62.62. Community Bank System, Inc. has a twelve month low of $41.50 and a twelve month high of $73.39. The stock has a market cap of $3.03 billion, a P/E ratio of 16.69 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 released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, beating 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 firm had revenue of $196.30 million for the quarter, compared to analysts’ expectations of $190.95 million. During the same quarter last year, the firm posted $0.76 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts predict that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 14th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.84 annualized dividend and a dividend yield of 3.21%. Community Bank System’s dividend payout ratio (DPR) is presently 53.49%.

Analyst Ratings Changes

A number of analysts recently issued reports on CBU shares. Piper Sandler started coverage on Community Bank System in a report on Thursday, December 5th. They set a “neutral” rating and a $70.00 price objective on the stock. Keefe, Bruyette & Woods raised their price target 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

In other news, SVP Jeffrey M. Levy sold 1,136 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $65.98, for a total transaction of $74,953.28. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.89% of the company’s stock.

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.