Congress Wealth Management LLC DE Makes New Investment in Community Bank System, Inc. (NYSE:CBU)

Congress Wealth Management LLC DE bought a new stake in Community Bank System, Inc. (NYSE:CBU) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,256 shares of the bank’s stock, valued at approximately $386,000.

A number of other institutional investors have also added to or reduced their stakes in CBU. US Bancorp DE increased its holdings in Community Bank System by 17.1% in the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank’s stock valued at $67,000 after buying an additional 158 shares during the period. Principal Securities Inc. increased its stake in Community Bank System by 13.7% in the fourth quarter. Principal Securities Inc. now owns 1,774 shares of the bank’s stock valued at $109,000 after acquiring an additional 214 shares during the period. Versant Capital Management Inc raised its position in Community Bank System by 99.2% in the fourth 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. Corient Private Wealth LLC lifted its stake in Community Bank System by 4.0% during the fourth quarter. Corient Private Wealth LLC now owns 8,526 shares of the bank’s stock worth $526,000 after purchasing an additional 327 shares during the period. Finally, Invesco LLC boosted its holdings in Community Bank System by 7.0% during the fourth quarter. Invesco LLC now owns 6,763 shares of the bank’s stock valued at $417,000 after purchasing an additional 442 shares in the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on Community Bank System from $74.00 to $76.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 22nd. Piper Sandler assumed coverage on Community Bank System in a report on Thursday, December 5th. They set a “neutral” rating and a $70.00 price objective for the company.

Insiders Place Their Bets

In related news, SVP Jeffrey M. Levy sold 1,136 shares of the firm’s 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 completion of the sale, the senior vice president now owns 6,539 shares of the company’s stock, valued at $431,443.22. This trade represents a 14.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.89% of the company’s stock.

Community Bank System Stock Down 2.0 %

Shares of CBU opened at $56.72 on Friday. The business’s 50 day simple moving average is $62.31 and its 200-day simple moving average is $62.60. Community Bank System, Inc. has a one year low of $41.50 and a one year high of $73.39. The company has a market capitalization of $2.99 billion, a P/E ratio of 16.49 and a beta of 0.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76.

Community Bank System (NYSE:CBU) last announced its 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 for the quarter, compared to analysts’ expectations of $190.95 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.24%. The ex-dividend date is Friday, March 14th. Community Bank System’s payout ratio is presently 53.49%.

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.