Congress Wealth Management LLC DE Invests $386,000 in Community Bank System, Inc. (NYSE:CBU)

Congress Wealth Management LLC DE acquired a new stake in Community Bank System, Inc. (NYSE:CBU) during the fourth quarter, HoldingsChannel reports. The fund acquired 6,256 shares of the bank’s stock, valued at approximately $386,000.

A number of other institutional investors have also recently bought and sold shares of CBU. Advantage Alpha Capital Partners LP boosted its position in shares of Community Bank System by 12.8% in the 4th quarter. Advantage Alpha Capital Partners LP now owns 10,054 shares of the bank’s stock worth $620,000 after purchasing an additional 1,144 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Community Bank System in the fourth quarter valued at about $676,000. Sei Investments Co. boosted its holdings in Community Bank System by 264.8% during the fourth quarter. Sei Investments Co. now owns 33,239 shares of the bank’s stock worth $2,050,000 after buying an additional 24,127 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of Community Bank System by 13.2% during the 4th quarter. Teacher Retirement System of Texas now owns 24,655 shares of the bank’s stock worth $1,521,000 after buying an additional 2,872 shares during the period. Finally, Xponance Inc. bought a new stake in shares of Community Bank System in the 4th quarter valued at about $232,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Bank System Price Performance

Shares of CBU opened at $56.72 on Friday. The stock has a 50 day simple moving average of $62.31 and a 200 day simple moving average of $62.60. Community Bank System, Inc. has a 52-week low of $41.50 and a 52-week high of $73.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $2.99 billion, a PE ratio of 16.49 and a beta of 0.66.

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 net margin of 19.40% and a return on equity of 10.94%. The company had revenue of $196.30 million during the quarter, compared to analysts’ expectations of $190.95 million. During the same quarter in the prior year, the company earned $0.76 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Sell-side 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 declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Friday, March 14th. Community Bank System’s dividend payout ratio is 53.49%.

Insider Activity

In other news, SVP Jeffrey M. Levy sold 1,136 shares of Community Bank System stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $65.98, for a total value of $74,953.28. Following the sale, the senior vice president now directly owns 6,539 shares in the company, valued at $431,443.22. This trade represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler assumed 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 for the company. Keefe, Bruyette & Woods upped 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 report on Wednesday, January 22nd.

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.