Envestnet Asset Management Inc. Grows Stake in Community Bank System, Inc. (NYSE:CBU)

Envestnet Asset Management Inc. grew its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 16.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 75,177 shares of the bank’s stock after acquiring an additional 10,809 shares during the period. Envestnet Asset Management Inc. owned about 0.14% of Community Bank System worth $4,637,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Versant Capital Management Inc lifted its stake in Community Bank System by 99.2% in the fourth quarter. Versant Capital Management Inc now owns 478 shares of the bank’s stock valued at $29,000 after purchasing an additional 238 shares during the last quarter. US Bancorp DE raised its stake in shares of Community Bank System by 17.1% in the fourth quarter. US Bancorp DE now owns 1,081 shares of the bank’s stock valued at $67,000 after buying an additional 158 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Community Bank System by 140.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank’s stock valued at $74,000 after buying an additional 702 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Community Bank System by 13.7% during the 4th quarter. Principal Securities Inc. now owns 1,774 shares of the bank’s stock worth $109,000 after acquiring an additional 214 shares during the period. Finally, Assetmark Inc. bought a new position in shares of Community Bank System during the 4th quarter worth $127,000. Hedge funds and other institutional investors 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 firm’s stock in a transaction that occurred on Friday, January 24th. The shares were 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 trade represents a 14.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.01% of the company’s stock.

Community Bank System Stock Up 3.1 %

Community Bank System stock opened at $54.19 on Wednesday. The firm has a 50 day simple moving average of $57.81 and a 200 day simple moving average of $62.03. 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, Inc. has a 1-year low of $42.16 and a 1-year high of $73.39. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 15.75 and a beta of 0.74.

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

Community Bank System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, June 13th. Community Bank System’s payout ratio is presently 53.49%.

Wall Street Analyst Weigh In

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

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.