State of New Jersey Common Pension Fund D Sells 2,947 Shares of Community Bank System, Inc. (NYSE:CBU)

State of New Jersey Common Pension Fund D lowered its stake in shares of Community Bank System, Inc. (NYSE:CBUGet Rating) by 7.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 34,581 shares of the bank’s stock after selling 2,947 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Community Bank System were worth $2,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Community Bank System by 45.2% during the 4th quarter. JPMorgan Chase & Co. now owns 209,488 shares of the bank’s stock valued at $15,602,000 after buying an additional 65,225 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Community Bank System by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 924,346 shares of the bank’s stock valued at $68,845,000 after buying an additional 56,203 shares in the last quarter. Yousif Capital Management LLC purchased a new position in shares of Community Bank System during the 4th quarter valued at approximately $3,687,000. Nuveen Asset Management LLC lifted its position in shares of Community Bank System by 15.0% during the 4th quarter. Nuveen Asset Management LLC now owns 288,796 shares of the bank’s stock valued at $21,509,000 after buying an additional 37,736 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Community Bank System during the 4th quarter valued at approximately $2,052,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Piper Sandler lowered Community Bank System from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $74.00 to $66.00 in a research report on Monday, May 2nd. StockNews.com raised Community Bank System from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th. Finally, DA Davidson reissued a “neutral” rating on shares of Community Bank System in a research note on Thursday, July 28th.

Insider Activity at Community Bank System

In related news, Director Sally A. Steele sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $65.30, for a total transaction of $130,600.00. Following the completion of the transaction, the director now directly owns 39,506 shares in the company, valued at approximately $2,579,741.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.75% of the stock is currently owned by company insiders.

Community Bank System Stock Down 0.4 %

Shares of NYSE:CBU opened at $67.82 on Wednesday. The business has a 50-day moving average price of $64.55 and a 200 day moving average price of $67.95. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 21.06 and a beta of 0.67. Community Bank System, Inc. has a 12-month low of $60.94 and a 12-month high of $78.00.

Community Bank System (NYSE:CBUGet Rating) last announced its earnings results on Monday, July 25th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. Community Bank System had a return on equity of 9.53% and a net margin of 26.78%. The company had revenue of $167.24 million during the quarter, compared to analysts’ expectations of $162.37 million. Sell-side analysts expect that Community Bank System, Inc. will post 3.52 EPS for the current year.

Community Bank System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Thursday, September 15th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.60%. This is a boost from Community Bank System’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, September 14th. Community Bank System’s dividend payout ratio (DPR) is 53.42%.

Community Bank System Profile

(Get Rating)

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, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market deposit accounts, as well as time deposits.

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Institutional Ownership by Quarter for Community Bank System (NYSE:CBU)

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