Drum Hill Capital LLC Buys New Holdings in Community Bank System, Inc. (NYSE:CBU)

Drum Hill Capital LLC purchased a new position in Community Bank System, Inc. (NYSE:CBU) during the fourth quarter, Holdings Channel reports. The fund purchased 4,718 shares of the bank’s stock, valued at approximately $291,000.

A number of other large investors have also bought and sold shares of the stock. QRG Capital Management Inc. grew its holdings in shares of Community Bank System by 19.9% in the third quarter. QRG Capital Management Inc. now owns 5,867 shares of the bank’s stock worth $341,000 after purchasing an additional 972 shares during the last quarter. Atria Investments Inc grew its holdings in Community Bank System by 30.6% in the 3rd quarter. Atria Investments Inc now owns 7,621 shares of the bank’s stock worth $443,000 after acquiring an additional 1,787 shares during the last quarter. KBC Group NV increased its position in shares of Community Bank System by 23.6% in 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. Natixis Advisors LLC raised its stake in shares of Community Bank System by 10.0% during the third quarter. Natixis Advisors LLC now owns 13,488 shares of the bank’s stock valued at $783,000 after acquiring an additional 1,228 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Community Bank System during the third quarter valued at about $1,551,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

Community Bank System Price Performance

CBU stock opened at $63.09 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. Community Bank System, Inc. has a 1 year low of $41.50 and a 1 year high of $73.39. The firm has a 50-day moving average of $63.73 and a 200 day moving average of $62.54. The company has a market cap of $3.32 billion, a P/E ratio of 18.34 and a beta of 0.67.

Community Bank System (NYSE:CBU) last posted its earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $196.30 million for the quarter, compared to the consensus estimate of $190.95 million. Community Bank System had a return on equity of 10.94% and a net margin of 19.40%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 EPS. On average, sell-side analysts forecast that Community Bank System, Inc. will post 4.18 EPS for the current year.

Community Bank System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 14th will be issued a $0.46 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a yield of 2.92%. Community Bank System’s dividend payout ratio (DPR) is 53.49%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CBU shares. Keefe, Bruyette & Woods raised their target price on 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. Raymond James upgraded Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective on the stock in a research report on Monday, October 28th. Finally, 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 for the company.

Insider Buying and Selling at Community Bank System

In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $65.98, for a total value of $74,953.28. Following the sale, the senior vice president now owns 6,539 shares in the company, valued at approximately $431,443.22. This represents a 14.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John F. Whipple sold 3,937 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $73.10, for a total transaction of $287,794.70. Following the transaction, the director now directly owns 5,823 shares of the company’s stock, valued at $425,661.30. This represents a 40.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.

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.