Jacobi Capital Management LLC Buys 236 Shares of Community Bank System, Inc. (NYSE:CBU)

Jacobi Capital Management LLC grew its position in shares of Community Bank System, Inc. (NYSE:CBU) by 0.2% during the fourth quarter, Holdings Channel reports. The fund owned 104,617 shares of the bank’s stock after purchasing an additional 236 shares during the period. Jacobi Capital Management LLC’s holdings in Community Bank System were worth $6,453,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CBU. Assenagon Asset Management S.A. boosted its stake in Community Bank System by 699.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank’s stock worth $8,932,000 after acquiring an additional 126,700 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Community Bank System by 151.8% in the 3rd quarter. Jane Street Group LLC now owns 127,227 shares of the bank’s stock worth $7,388,000 after buying an additional 76,703 shares during the last quarter. Barclays PLC increased its position 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. Algert Global LLC raised its stake in Community Bank System by 371.9% during the third quarter. Algert Global LLC now owns 64,193 shares of the bank’s stock valued at $3,728,000 after buying an additional 50,590 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Community Bank System by 6.4% in the fourth quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank’s stock worth $34,906,000 after acquiring an additional 34,143 shares in the last quarter. 73.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, 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 transaction, the senior vice president now directly owns 6,539 shares of the company’s stock, valued at approximately $431,443.22. The trade was a 14.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.89% of the stock is currently owned by insiders.

Community Bank System Price Performance

NYSE CBU opened at $63.23 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $3.32 billion, a P/E ratio of 18.38 and a beta of 0.67. The company has a 50-day moving average price of $63.66 and a 200-day moving average price of $62.69. Community Bank System, Inc. has a 52 week low of $41.50 and a 52 week high of $73.39.

Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $196.30 million during the quarter, compared to the consensus estimate of $190.95 million. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. Equities research analysts anticipate that Community Bank System, Inc. will post 4.18 earnings per share for the current year.

Community Bank System Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.91%. Community Bank System’s payout ratio is currently 53.49%.

Analyst Upgrades and Downgrades

CBU has been the topic of several recent analyst reports. Piper Sandler began coverage on shares of Community Bank System in a research report on Thursday, December 5th. They set a “neutral” rating and a $70.00 price objective on the stock. Keefe, Bruyette & Woods increased their target price on 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.

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.