Wealthcare Capital Partners LLC Buys Shares of 3,374 Community Bank System, Inc. (NYSE:CBU)

Wealthcare Capital Partners LLC bought a new stake in Community Bank System, Inc. (NYSE:CBU) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,374 shares of the bank’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in shares of Community Bank System by 699.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank’s stock worth $8,932,000 after purchasing an additional 126,700 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Community Bank System by 151.8% during the 3rd quarter. Jane Street Group LLC now owns 127,227 shares of the bank’s stock worth $7,388,000 after purchasing an additional 76,703 shares in the last quarter. Barclays PLC grew its holdings in shares of Community Bank System by 99.0% during the 3rd quarter. Barclays PLC now owns 109,647 shares of the bank’s stock worth $6,367,000 after purchasing an additional 54,554 shares in the last quarter. Algert Global LLC lifted its position in shares of Community Bank System by 371.9% during the 3rd quarter. Algert Global LLC now owns 64,193 shares of the bank’s stock worth $3,728,000 after buying an additional 50,590 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Community Bank System during the 3rd quarter worth approximately $1,551,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

Insider Buying and Selling at Community Bank System

In other news, SVP Jeffrey M. Levy sold 1,136 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $65.98, for a total value of $74,953.28. Following the completion of the transaction, the senior vice president now directly owns 6,539 shares in the company, valued at approximately $431,443.22. This represents a 14.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John F. Whipple sold 3,937 shares of the 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 transaction, the director now 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 disclosure for this sale can be found here. Company insiders own 1.89% of the company’s stock.

Analysts Set New Price Targets

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

Community Bank System Price Performance

Community Bank System stock opened at $66.26 on Tuesday. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month high of $73.39. The stock’s 50 day moving average is $64.28 and its 200-day moving average is $62.28. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 19.26 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 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. The company 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 firm’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 earnings per share. Equities research analysts expect that Community Bank System, Inc. will post 4.18 EPS for the current year.

Community Bank System Announces Dividend

The firm also recently announced 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. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, March 14th. Community Bank System’s dividend payout ratio is presently 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.