Community Bank System, Inc. (NYSE:CBU) Shares Sold by Nottingham Advisors Inc.

Nottingham Advisors Inc. lessened its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 90.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,208 shares of the bank’s stock after selling 112,603 shares during the quarter. Nottingham Advisors Inc.’s holdings in Community Bank System were worth $691,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of Community Bank System by 99.2% during the 4th quarter. Versant Capital Management Inc now owns 478 shares of the bank’s stock valued at $29,000 after buying an additional 238 shares during the period. US Bancorp DE increased its holdings in Community Bank System by 17.1% during the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank’s stock worth $67,000 after purchasing an additional 158 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Community Bank System by 140.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank’s stock valued at $74,000 after purchasing an additional 702 shares in the last quarter. Principal Securities Inc. boosted 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 buying an additional 214 shares during the last quarter. Finally, Assetmark Inc. acquired a new stake in shares of Community Bank System during the fourth quarter worth approximately $127,000. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Community Bank System Price Performance

Shares of NYSE CBU opened at $57.47 on Thursday. 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 company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 16.71 and a beta of 0.66. Community Bank System, Inc. has a twelve month low of $41.50 and a twelve month high of $73.39. The business has a 50 day simple moving average of $61.86 and a 200-day simple moving average of $62.60.

Community Bank System (NYSE:CBU) last released its 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 firm had revenue of $196.30 million during the quarter, compared to analyst estimates of $190.95 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities research analysts expect that Community Bank System, Inc. will post 4.18 earnings per share for the current year.

Community Bank System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be issued a $0.46 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a yield of 3.20%. Community Bank System’s dividend payout ratio is currently 53.49%.

Insider Buying and Selling at Community Bank System

In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the stock in a transaction 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 sale, the senior vice president now directly 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 filing with the Securities & Exchange Commission, which is available at this link. 1.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CBU shares. Keefe, Bruyette & Woods upped their price target on shares of Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a report on Wednesday, January 22nd. Piper Sandler assumed coverage on shares of Community Bank System in a research note on Thursday, December 5th. They issued a “neutral” rating and a $70.00 target price on the 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.