Community Bank System, Inc. (NYSE:CBU) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,103 shares of the bank’s stock after selling 1,523 shares during the period. Illinois Municipal Retirement Fund’s holdings in Community Bank System were worth $1,733,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Versant Capital Management Inc raised its holdings in shares of Community Bank System by 99.2% during 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 during the last quarter. KBC Group NV grew its position in Community Bank System by 23.6% during the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank’s stock worth $105,000 after purchasing an additional 347 shares during the period. Principal Securities Inc. raised 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. Stone House Investment Management LLC raised its stake in shares of Community Bank System by 51.0% during the 3rd quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank’s stock valued at $137,000 after buying an additional 797 shares during the last quarter. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Community Bank System in the 4th quarter valued at about $141,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity 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 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 of the company’s stock, 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 SEC, which is accessible through this hyperlink. 1.89% of the stock is owned by corporate insiders.

Community Bank System Trading Up 0.2 %

CBU stock opened at $63.23 on Friday. Community Bank System, Inc. has a 52-week low of $41.50 and a 52-week high of $73.39. 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 cap of $3.32 billion, a P/E ratio of 18.38 and a beta of 0.67. The company’s 50-day simple moving average is $63.66 and its 200-day simple moving average is $62.69.

Community Bank System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $190.95 million. During the same quarter in the prior year, the business posted $0.76 earnings per share. Community Bank System’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts forecast that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The firm 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. 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 dividend payout ratio (DPR) is 53.49%.

Wall Street Analysts Forecast Growth

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

About Community Bank System

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.