9,059 Shares in Community Bank System, Inc. (NYSE:CBU) Bought by Jennison Associates LLC

Jennison Associates LLC bought a new position in Community Bank System, Inc. (NYSE:CBU) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 9,059 shares of the bank’s stock, valued at approximately $564,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Community Bank System by 2.1% in the 4th quarter. BlackRock Inc. now owns 7,892,718 shares of the bank’s stock worth $491,795,000 after purchasing an additional 160,227 shares in the last quarter. State Street Corp lifted its holdings in shares of Community Bank System by 11.0% in the 3rd quarter. State Street Corp now owns 4,560,773 shares of the bank’s stock worth $250,338,000 after purchasing an additional 450,716 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Community Bank System by 0.5% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,003,975 shares of the bank’s stock worth $54,676,000 after purchasing an additional 4,520 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Community Bank System by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 420,540 shares of the bank’s stock worth $22,903,000 after purchasing an additional 1,838 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Community Bank System by 64.8% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 269,648 shares of the bank’s stock worth $14,683,000 after purchasing an additional 105,996 shares in the last quarter. Institutional investors own 69.82% of the company’s stock.

In other news, Director Sally A. Steele sold 10,240 shares of the firm’s stock in a transaction on Tuesday, December 15th. The stock was sold at an average price of $65.40, for a total transaction of $669,696.00. Following the completion of the sale, the director now directly owns 50,062 shares of the company’s stock, valued at approximately $3,274,054.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP George J. Getman sold 4,600 shares of the firm’s stock in a transaction on Friday, February 12th. The shares were sold at an average price of $70.36, for a total value of $323,656.00. Following the sale, the vice president now directly owns 43,521 shares of the company’s stock, valued at $3,062,137.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,666 shares of company stock valued at $1,642,413. Insiders own 2.10% of the company’s stock.

Separately, Zacks Investment Research upgraded Community Bank System from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Thursday, January 28th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Community Bank System has a consensus rating of “Hold” and an average price target of $65.33.

NYSE CBU opened at $71.79 on Tuesday. The firm has a market capitalization of $3.84 billion, a P/E ratio of 23.69 and a beta of 0.72. The business has a fifty day simple moving average of $68.07 and a 200 day simple moving average of $62.28. Community Bank System, Inc. has a 12 month low of $47.01 and a 12 month high of $71.87. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05.

Community Bank System (NYSE:CBU) last released its quarterly earnings results on Sunday, January 24th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. The business had revenue of $150.60 million during the quarter, compared to analyst estimates of $150.48 million. Community Bank System had a return on equity of 8.52% and a net margin of 25.98%. Community Bank System’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. As a group, sell-side analysts predict that Community Bank System, Inc. will post 3.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 9th. Stockholders of record on Monday, March 15th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, March 12th. Community Bank System’s dividend payout ratio is presently 51.06%.

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, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market accounts, as well as time deposits.

Further Reading: Conference Calls and Individual Investors

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Institutional Ownership by Quarter for Community Bank System (NYSE:CBU)

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