Drum Hill Capital LLC Takes $291,000 Position in Community Bank System, Inc. (NYSE:CBU)

Drum Hill Capital LLC acquired a new position in Community Bank System, Inc. (NYSE:CBU) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,718 shares of the bank’s stock, valued at approximately $291,000.

A number of other hedge funds have also bought and sold shares of CBU. Versant Capital Management Inc lifted its position 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 acquiring an additional 238 shares in the last quarter. Principal Securities Inc. raised its stake in shares of 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 purchasing an additional 214 shares during the period. KBC Group NV boosted its stake in Community Bank System by 23.6% in 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 during the period. Geneos Wealth Management Inc. purchased a new position in Community Bank System during the 4th quarter valued at about $141,000. Finally, Stone House Investment Management LLC increased its position in shares of Community Bank System by 51.0% during the third quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank’s stock valued at $137,000 after buying an additional 797 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Community Bank System Stock Down 1.3 %

Shares of NYSE CBU opened at $63.09 on Friday. 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 business has a 50-day moving average of $63.73 and a 200-day moving average of $62.54. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 18.34 and a beta of 0.67. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month high of $73.39.

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

Community Bank System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.92%. Community Bank System’s payout ratio is 53.49%.

Insider Buying and Selling at Community Bank System

In related 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 transaction, the director now directly 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 filing with the SEC, which is accessible through this link. Also, SVP Jeffrey M. Levy sold 1,136 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $65.98, for a total value 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 $431,443.22. The trade was a 14.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CBU. Keefe, Bruyette & Woods boosted their price objective on shares of 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. Raymond James upgraded shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target for the company in a research report on Monday, October 28th. Finally, Piper Sandler assumed coverage on shares of Community Bank System in a report on Thursday, December 5th. They issued a “neutral” rating and a $70.00 price target on the 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.