Canandaigua National Bank & Trust Co. Has $1.99 Million Stock Position in Community Bank System, Inc. (NYSE:CBU)

Canandaigua National Bank & Trust Co. lessened its stake in Community Bank System, Inc. (NYSE:CBU) by 1.8% in the 4th quarter, HoldingsChannel reports. The fund owned 32,311 shares of the bank’s stock after selling 594 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Community Bank System were worth $1,993,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CBU. Versant Capital Management Inc raised its position in Community Bank System by 99.2% in the 4th 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. Point72 DIFC Ltd bought a new stake in shares of Community Bank System during the second quarter worth $76,000. KBC Group NV lifted its stake in shares of Community Bank System by 23.6% during the third quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after acquiring an additional 347 shares during the period. Stone House Investment Management LLC boosted its holdings in Community Bank System by 51.0% in the third quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank’s stock valued at $137,000 after acquiring an additional 797 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in Community Bank System by 27.5% in the second quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank’s stock worth $162,000 after purchasing an additional 741 shares during the period. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Community Bank System Stock Down 0.9 %

NYSE CBU traded down $0.53 on Monday, reaching $61.44. The company had a trading volume of 165,722 shares, compared to its average volume of 145,224. The company’s fifty day moving average is $65.99 and its 200-day moving average is $59.78. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 19.14 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 0.76. Community Bank System, Inc. has a 1-year low of $41.50 and a 1-year high of $73.39.

Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.05). Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The firm had revenue of $188.94 million for the quarter, compared to analyst estimates of $186.35 million. During the same period in the prior year, the company earned $0.82 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that Community Bank System, Inc. will post 3.39 earnings per share for the current fiscal year.

Community Bank System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 13th will be issued a $0.46 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.99%. Community Bank System’s dividend payout ratio (DPR) is presently 57.32%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CBU shares. Piper Sandler initiated 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. Raymond James upgraded Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 target price on the stock in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods increased their price target on Community Bank System from $64.00 to $74.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $65.25.

Insider Transactions at Community Bank System

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of Community Bank System stock in a transaction on Monday, November 25th. The shares were sold at an average price of $73.10, for a total value of $287,794.70. Following the sale, the director now directly owns 5,823 shares in the company, valued at approximately $425,661.30. The trade was a 40.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.89% of the stock is currently owned by insiders.

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.