Advantage Alpha Capital Partners LP Acquires 1,144 Shares of Community Bank System, Inc. (NYSE:CBU)

Advantage Alpha Capital Partners LP boosted its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 12.8% during the 4th quarter, Holdings Channel reports. The firm owned 10,054 shares of the bank’s stock after buying an additional 1,144 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Community Bank System were worth $620,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CBU. Barclays PLC grew its holdings in Community Bank System by 99.0% during the 3rd quarter. Barclays PLC now owns 109,647 shares of the bank’s stock valued at $6,367,000 after buying an additional 54,554 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Community Bank System by 56.1% during the third quarter. BNP Paribas Financial Markets now owns 22,582 shares of the bank’s stock worth $1,311,000 after acquiring an additional 8,113 shares during the last quarter. Principal Financial Group Inc. grew its stake in Community Bank System by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 254,869 shares of the bank’s stock valued at $15,720,000 after acquiring an additional 7,160 shares in the last quarter. Citigroup Inc. increased its holdings in Community Bank System by 9.5% in the 3rd quarter. Citigroup Inc. now owns 96,742 shares of the bank’s stock valued at $5,618,000 after acquiring an additional 8,356 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Community Bank System by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 652,991 shares of the bank’s stock worth $37,919,000 after purchasing an additional 9,863 shares in the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Community Bank System

In related news, SVP Jeffrey M. Levy sold 1,136 shares of the company’s 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 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 SEC, which is accessible through this hyperlink. 1.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CBU shares. Keefe, Bruyette & Woods raised their price objective on Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a research report on Wednesday, January 22nd. Piper Sandler began coverage on Community Bank System in a report on Thursday, December 5th. They set a “neutral” rating and a $70.00 price target for the company.

Community Bank System Price Performance

CBU stock opened at $58.32 on Tuesday. Community Bank System, Inc. has a 52 week low of $41.50 and a 52 week high of $73.39. The firm has a market capitalization of $3.07 billion, a P/E ratio of 16.95 and a beta of 0.66. The company has a fifty day simple moving average of $62.67 and a two-hundred day simple moving average of $62.63. 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 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 during the quarter, compared to analyst estimates of $190.95 million. During the same quarter last year, the business posted $0.76 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. Analysts anticipate that Community Bank System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Bank System Announces Dividend

The business also recently announced 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. This represents a $1.84 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Friday, March 14th. Community Bank System’s dividend payout ratio is currently 53.49%.

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.