Tidal Investments LLC Has $1.79 Million Stock Holdings in Community Bank System, Inc. (NYSE:CBU)

Tidal Investments LLC grew its holdings in Community Bank System, Inc. (NYSE:CBU) by 48.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 30,866 shares of the bank’s stock after acquiring an additional 10,060 shares during the period. Tidal Investments LLC’s holdings in Community Bank System were worth $1,792,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CBU. Point72 DIFC Ltd acquired a new stake in shares of Community Bank System during the 2nd quarter worth about $76,000. KBC Group NV increased its position 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 purchasing an additional 347 shares in the last quarter. Stone House Investment Management LLC increased 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 worth $137,000 after purchasing an additional 797 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Community Bank System by 27.5% during 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 acquired a new stake in shares of Community Bank System during the 2nd quarter worth about $212,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CBU. Keefe, Bruyette & Woods increased their target price on shares of Community Bank System from $64.00 to $74.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James upgraded shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 target price for the company in a research report on Monday, October 28th. Finally, Piper Sandler initiated coverage on shares of Community Bank System in a report on Thursday, December 5th. They set a “neutral” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Community Bank System currently has an average rating of “Hold” and an average target price of $65.25.

Community Bank System Stock Down 3.5 %

Shares of NYSE:CBU opened at $65.20 on Wednesday. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month high of $73.39. The company’s 50-day moving average price is $65.14 and its two-hundred day moving average price is $58.11. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.35. The firm has a market cap of $3.43 billion, a P/E ratio of 20.37 and a beta of 0.65.

Community Bank System (NYSE:CBU) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.05). The business had revenue of $188.94 million during the quarter, compared to the consensus estimate of $186.35 million. Community Bank System had a net margin of 18.82% and a return on equity of 10.52%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.82 EPS. As a group, research analysts forecast that Community Bank System, Inc. will post 3.39 EPS for the current fiscal year.

Community Bank System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, December 13th. Community Bank System’s dividend payout ratio (DPR) is presently 57.32%.

Insider Activity

In other news, Director John F. Whipple sold 3,937 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.10, for a total value of $287,794.70. Following the transaction, the director now owns 5,823 shares of the company’s stock, valued at approximately $425,661.30. This trade represents a 40.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.89% of the company’s stock.

Community Bank System 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.