Anchor Capital Advisors LLC Boosts Holdings in Community Bank System, Inc. (NYSE:CBU)

Anchor Capital Advisors LLC raised its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 1.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 33,518 shares of the bank’s stock after acquiring an additional 554 shares during the period. Anchor Capital Advisors LLC’s holdings in Community Bank System were worth $2,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CBU. Bank of New York Mellon Corp grew its position in shares of Community Bank System by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank’s stock valued at $34,906,000 after acquiring an additional 34,143 shares during the period. Olympiad Research LP purchased a new position in Community Bank System during the fourth quarter valued at $215,000. Drum Hill Capital LLC bought a new stake in Community Bank System during the fourth quarter valued at about $291,000. Handelsbanken Fonder AB increased its position in Community Bank System by 12.4% in the fourth quarter. Handelsbanken Fonder AB now owns 11,816 shares of the bank’s stock worth $729,000 after buying an additional 1,300 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Community Bank System by 3.9% in the fourth quarter. New York State Common Retirement Fund now owns 16,883 shares of the bank’s stock worth $1,041,000 after buying an additional 634 shares during the period. 73.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Community Bank System

In other news, SVP Jeffrey M. Levy sold 1,136 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $65.98, for a total transaction of $74,953.28. Following the completion of the transaction, the senior vice president now owns 6,539 shares in the company, valued at $431,443.22. This trade represents a 14.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CBU shares. Piper Sandler began coverage on Community Bank System in a research note on Thursday, December 5th. They set a “neutral” rating and a $70.00 price objective for the company. Keefe, Bruyette & Woods lifted their price target on shares of Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a report on Wednesday, January 22nd.

Community Bank System Stock Performance

NYSE CBU opened at $63.23 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. Community Bank System, Inc. has a twelve month low of $41.50 and a twelve month high of $73.39. The business has a 50-day moving average price of $63.66 and a 200-day moving average price of $62.69. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 18.38 and a beta of 0.67.

Community Bank System (NYSE:CBU) last posted its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. The business had revenue of $196.30 million during 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 firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 EPS. As a group, equities research analysts predict that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 14th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, March 14th. This represents a $1.84 annualized dividend and a yield of 2.91%. Community Bank System’s payout ratio is 53.49%.

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.