Olympiad Research LP Buys New Stake in Community Bank System, Inc. (NYSE:CBU)

Olympiad Research LP bought a new stake in shares of Community Bank System, Inc. (NYSE:CBU) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 3,480 shares of the bank’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of Community Bank System by 99.2% in the fourth quarter. Versant Capital Management Inc now owns 478 shares of the bank’s stock worth $29,000 after buying an additional 238 shares during the last quarter. KBC Group NV raised its holdings 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 worth $105,000 after buying an additional 347 shares during the last quarter. Principal Securities Inc. raised its holdings in shares of Community Bank System by 13.7% in the fourth quarter. Principal Securities Inc. now owns 1,774 shares of the bank’s stock worth $109,000 after buying an additional 214 shares during the last quarter. Stone House Investment Management LLC raised its holdings in shares of 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 worth $137,000 after buying an additional 797 shares during the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Community Bank System in the fourth quarter worth $141,000. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CBU. Raymond James raised shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target for the company in a report on Monday, October 28th. Piper Sandler began coverage on shares of Community Bank System in a report on Thursday, December 5th. They issued a “neutral” rating and a $70.00 price target for the company. Finally, Keefe, Bruyette & Woods raised their price target on shares of Community Bank System from $74.00 to $76.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd.

Community Bank System Stock Down 1.3 %

NYSE:CBU opened at $63.09 on Monday. The firm has a market capitalization of $3.32 billion, a P/E ratio of 18.34 and a beta of 0.67. Community Bank System, Inc. has a 1-year low of $41.50 and a 1-year high of $73.39. The company’s fifty day moving average price is $63.73 and its 200-day moving average price is $62.61. 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 (NYSE:CBU) last released its quarterly earnings data 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 analyst estimates of $190.95 million. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 earnings per share. As a group, equities research analysts anticipate that Community Bank System, Inc. will post 4.18 EPS for the current year.

Community Bank System Announces Dividend

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

Insider Activity at Community Bank System

In related news, SVP Jeffrey M. Levy sold 1,136 shares of the firm’s 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 sale, the senior vice president now owns 6,539 shares in the company, valued at approximately $431,443.22. This trade represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.89% of the stock is owned by company insiders.

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.