Bank of Montreal Can Has $564,000 Stock Holdings in Community Bank System, Inc. (NYSE:CBU)

Bank of Montreal Can lifted its holdings in Community Bank System, Inc. (NYSE:CBU) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,140 shares of the bank’s stock after buying an additional 255 shares during the quarter. Bank of Montreal Can’s holdings in Community Bank System were worth $564,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Federated Hermes Inc. lifted its position in shares of Community Bank System by 12.9% during the fourth quarter. Federated Hermes Inc. now owns 831,387 shares of the bank’s stock worth $51,280,000 after purchasing an additional 94,850 shares in the last quarter. Russell Investments Group Ltd. raised its position in Community Bank System by 88.3% in the 4th quarter. Russell Investments Group Ltd. now owns 102,586 shares of the bank’s stock worth $6,328,000 after purchasing an additional 48,103 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Community Bank System by 16.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 75,177 shares of the bank’s stock worth $4,637,000 after buying an additional 10,809 shares in the last quarter. Wells Fargo & Company MN boosted its position in Community Bank System by 15.6% in the 4th quarter. Wells Fargo & Company MN now owns 55,153 shares of the bank’s stock valued at $3,402,000 after buying an additional 7,428 shares during the last quarter. Finally, Level Four Advisory Services LLC increased its stake in shares of Community Bank System by 32.4% in the 4th quarter. Level Four Advisory Services LLC now owns 11,125 shares of the bank’s stock valued at $686,000 after buying an additional 2,721 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their price target on Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a report on Wednesday, January 22nd.

Insider Activity at Community Bank System

In related news, SVP Jeffrey M. Levy sold 1,136 shares of the business’s stock in a transaction that occurred 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. The trade was a 14.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.01% of the stock is owned by corporate insiders.

Community Bank System Price Performance

Shares of CBU opened at $53.30 on Monday. The stock has a market cap of $2.82 billion, a P/E ratio of 15.50 and a beta of 0.74. Community Bank System, Inc. has a 1 year low of $42.16 and a 1 year high of $73.39. The stock’s 50-day moving average price is $58.05 and its two-hundred day moving average price is $62.07. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42.

Community Bank System (NYSE:CBU) last announced its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $196.30 million for the quarter, compared to the consensus estimate of $190.95 million. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. Community Bank System’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the company posted $0.76 EPS. On average, equities analysts predict that Community Bank System, Inc. will post 4.18 earnings per share for the current year.

Community Bank System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, June 13th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, June 13th. Community Bank System’s dividend payout ratio (DPR) 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.