Peoples Financial Services CORP. Sells 312 Shares of Community Bank System, Inc. (NYSE:CBU)

Peoples Financial Services CORP. reduced its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,100 shares of the bank’s stock after selling 312 shares during the period. Peoples Financial Services CORP.’s holdings in Community Bank System were worth $315,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc grew its holdings in Community Bank System by 99.2% during the 4th quarter. Versant Capital Management Inc now owns 478 shares of the bank’s stock worth $29,000 after acquiring an additional 238 shares during the period. KBC Group NV grew its stake in shares of Community Bank System by 23.6% in the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank’s stock valued at $105,000 after buying an additional 347 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Community Bank System by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,088 shares of the bank’s stock valued at $1,373,000 after buying an additional 484 shares during the period. Profund Advisors LLC grew its stake in shares of Community Bank System by 15.9% in the 2nd quarter. Profund Advisors LLC now owns 5,059 shares of the bank’s stock valued at $239,000 after buying an additional 694 shares during the period. Finally, Fulton Bank N.A. grew its stake in shares of Community Bank System by 9.5% in the 3rd quarter. Fulton Bank N.A. now owns 8,078 shares of the bank’s stock valued at $469,000 after buying an additional 702 shares during the period. 73.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Piper Sandler assumed coverage on Community Bank System in a research note on Thursday, December 5th. They set a “neutral” rating and a $70.00 price target for the company. Raymond James upgraded 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 research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods lifted their price target on Community Bank System from $64.00 to $74.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.25.

Community Bank System Stock Up 3.2 %

Community Bank System stock opened at $61.47 on Wednesday. Community Bank System, Inc. has a 1-year low of $41.50 and a 1-year high of $73.39. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 19.15 and a beta of 0.67. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $65.85 and a 200 day simple moving average of $60.64.

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

Insider Buying and Selling

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of the business’s 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 completion of the sale, the director now directly owns 5,823 shares of the company’s stock, valued at $425,661.30. The trade was a 40.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.89% of the stock is owned by company 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.