Community Bank System, Inc. (NYSE:CBU) Shares Bought by Citigroup Inc.

Citigroup Inc. raised its stake in Community Bank System, Inc. (NYSE:CBU – Get Rating) by 24.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,527 shares of the bank’s stock after acquiring an additional 6,351 shares during the quarter. Citigroup Inc.’s holdings in Community Bank System were worth $2,048,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CBU. State Street Corp lifted its holdings in 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 acquiring an additional 647,871 shares during the period. Eaton Vance Management raised its stake in shares of Community Bank System by 38.4% during the 3rd 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 during the period. Federated Hermes Inc. raised its stake in shares of Community Bank System by 52.6% during the 3rd 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 during the period. Vanguard Group Inc. raised its stake in shares of Community Bank System by 1.0% during the 3rd 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 during the period. Finally, BlackRock Inc. raised its stake in shares of Community Bank System by 0.6% during the 1st 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 during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Community Bank System Stock Down 0.7 %

Shares of NYSE:CBU opened at $48.65 on Friday. 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 business has a fifty day moving average of $49.28 and a two-hundred day moving average of $57.07. The stock has a market cap of $2.61 billion, a P/E ratio of 17.95 and a beta of 0.61. Community Bank System, Inc. has a 52-week low of $44.26 and a 52-week high of $72.86.

Community Bank System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 10th. Shareholders of record on Thursday, June 15th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.62%. The ex-dividend date is Wednesday, June 14th. Community Bank System’s payout ratio is currently 64.94%.

Insider Buying and Selling at Community Bank System

In other Community Bank System news, Director Brian R. Ace sold 4,148 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $60.54, for a total value of $251,119.92. Following the completion of the sale, the director now directly owns 63,011 shares in the company, valued at approximately $3,814,685.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Community Bank System news, Director Sally A. Steele purchased 2,000 shares of the stock in a transaction dated Wednesday, March 15th. The stock was acquired at an average cost of $53.46 per share, for a total transaction of $106,920.00. Following the acquisition, the director now owns 4,585 shares in the company, valued at approximately $245,114.10. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian R. Ace sold 4,148 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $60.54, for a total value of $251,119.92. Following the transaction, the director now owns 63,011 shares of the company’s stock, valued at $3,814,685.94. The disclosure for this sale 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.