Steele Capital Management Inc. Purchases Shares of 4,027 Community Bank System, Inc. (NYSE:CBU)

Steele Capital Management Inc. acquired a new position in Community Bank System, Inc. (NYSE:CBU) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,027 shares of the bank’s stock, valued at approximately $210,000.

Several other institutional investors have also recently modified their holdings of CBU. Charles Schwab Investment Management Inc. lifted its stake in Community Bank System by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 559,454 shares of the bank’s stock worth $23,615,000 after purchasing an additional 17,696 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Community Bank System by 14.0% during the 4th quarter. Federated Hermes Inc. now owns 536,844 shares of the bank’s stock valued at $27,975,000 after acquiring an additional 65,879 shares during the period. Assenagon Asset Management S.A. bought a new position in Community Bank System during the 3rd quarter worth approximately $6,405,000. Swiss National Bank lifted its position in Community Bank System by 0.6% in the third quarter. Swiss National Bank now owns 118,100 shares of the bank’s stock valued at $4,985,000 after purchasing an additional 700 shares during the last quarter. Finally, Tudor Investment Corp Et Al boosted its stake in shares of Community Bank System by 62.7% during the third quarter. Tudor Investment Corp Et Al now owns 113,604 shares of the bank’s stock valued at $4,795,000 after purchasing an additional 43,766 shares during the period. 73.79% of the stock is currently owned by institutional investors.

Insider Transactions at Community Bank System

In other Community Bank System news, Director Mark J. Bolus sold 3,631 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $45.00, for a total transaction of $163,395.00. Following the completion of the transaction, the director now owns 96,364 shares of the company’s stock, valued at $4,336,380. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Community Bank System news, CEO Dimitar Karaivanov bought 1,000 shares of Community Bank System stock in a transaction on Wednesday, February 14th. The stock was acquired at an average price of $43.70 per share, with a total value of $43,700.00. Following the acquisition, the chief executive officer now owns 16,265 shares in the company, valued at $710,780.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark J. Bolus sold 3,631 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $45.00, for a total value of $163,395.00. Following the completion of the transaction, the director now directly owns 96,364 shares of the company’s stock, valued at approximately $4,336,380. The disclosure for this sale can be found here. Insiders own 1.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CBU shares. StockNews.com raised shares of Community Bank System to a “sell” rating in a research report on Friday, January 19th. DA Davidson reissued a “neutral” rating and issued a $50.00 target price on shares of Community Bank System in a research note on Thursday, March 14th. Finally, Raymond James upped their price target on Community Bank System from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.67.

Community Bank System Trading Down 0.9 %

CBU stock traded down $0.41 during trading on Tuesday, reaching $43.38. The company had a trading volume of 21,008 shares, compared to its average volume of 288,888. The business has a 50 day moving average of $45.13 and a 200 day moving average of $45.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market cap of $2.29 billion, a P/E ratio of 13.77 and a beta of 0.66. Community Bank System, Inc. has a 52 week low of $35.38 and a 52 week high of $55.64.

Community Bank System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 annualized dividend and a yield of 4.15%. Community Bank System’s payout ratio is 56.60%.

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.