Community Bank System, Inc. (NYSE:CBU) Stock Position Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of Community Bank System, Inc. (NYSE:CBU – Get Rating) by 0.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 328,183 shares of the bank’s stock after selling 2,956 shares during the quarter. Principal Financial Group Inc.’s holdings in Community Bank System were worth $20,659,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp grew its position in shares of Community Bank System by 14.8% in the first quarter. State Street Corp now owns 5,037,367 shares of the bank’s stock valued at $355,486,000 after purchasing an additional 647,871 shares during the last quarter. Eaton Vance Management grew its position in Community Bank System by 38.4% during the third quarter. Eaton Vance Management now owns 917,873 shares of the bank’s stock worth $55,146,000 after buying an additional 254,734 shares in the last quarter. Federated Hermes Inc. grew its position in Community Bank System by 52.6% during the third quarter. Federated Hermes Inc. now owns 393,620 shares of the bank’s stock worth $23,648,000 after buying an additional 135,657 shares in the last quarter. Vanguard Group Inc. grew its position in Community Bank System by 1.0% during the third quarter. Vanguard Group Inc. now owns 6,521,304 shares of the bank’s stock worth $391,801,000 after buying an additional 65,454 shares in the last quarter. Finally, BlackRock Inc. grew its position in Community Bank System by 0.6% during the first quarter. BlackRock Inc. now owns 7,943,008 shares of the bank’s stock worth $557,203,000 after buying an additional 50,524 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Janney Montgomery Scott initiated coverage on shares of Community Bank System in a research note on Tuesday, March 14th. They issued a “buy” rating and a $66.00 target price for the company. TheStreet cut shares of Community Bank System from a “b-” rating to a “c+” rating in a research report on Tuesday, April 11th. StockNews.com initiated coverage on shares of Community Bank System in a research report on Thursday, March 16th. They issued a “sell” rating for the company. Piper Sandler dropped their price objective on shares of Community Bank System from $54.00 to $50.00 in a research report on Wednesday, April 26th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Community Bank System from $64.00 to $57.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Community Bank System has a consensus rating of “Hold” and a consensus price target of $59.80.

Community Bank System Price Performance

Shares of CBU stock opened at $47.79 on Monday. Community Bank System, Inc. has a 12-month low of $44.26 and a 12-month high of $72.86. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 17.63 and a beta of 0.61. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average of $49.67 and a 200-day moving average of $57.37.

Community Bank System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Thursday, June 15th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Wednesday, June 14th. Community Bank System’s dividend payout ratio (DPR) is 64.94%.

Insider Activity

In related news, Director Brian R. Ace sold 4,148 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $60.54, for a total value of $251,119.92. Following the completion of the transaction, the director now directly owns 63,011 shares of the company’s stock, valued at approximately $3,814,685.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Brian R. Ace sold 4,148 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $60.54, for a total value of $251,119.92. Following the sale, the director now directly owns 63,011 shares of the company’s stock, valued at approximately $3,814,685.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kerrie D. Macpherson bought 1,000 shares of the company’s stock in a transaction dated Monday, March 20th. The stock was purchased at an average cost of $55.42 per share, for a total transaction of $55,420.00. Following the completion of the acquisition, the director now owns 3,662 shares in the company, valued at approximately $202,948.04. The disclosure for this purchase can be found here. 1.89% of the stock is owned by company insiders.

Community Bank System Profile

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Community Bank System, Inc is a holding company, which engages in the provision of retail, business, and municipal banking services. It operates through the following segments: Banking, Employee Benefit Services, and All Other. The Banking segment offers lending and depository-related products and services to individuals, businesses, and municipal enterprises.