Community Bank System, Inc. (NYSE:CBU) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its position in shares of Community Bank System, Inc. (NYSE:CBU) by 10.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 113,280 shares of the bank’s stock after selling 13,797 shares during the quarter. Truist Financial Corp owned 0.21% of Community Bank System worth $5,903,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Community Bank System by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 559,454 shares of the bank’s stock valued at $23,615,000 after purchasing an additional 17,696 shares during the period. Federated Hermes Inc. boosted its stake in shares of Community Bank System by 14.0% during the 4th quarter. Federated Hermes Inc. now owns 536,844 shares of the bank’s stock worth $27,975,000 after acquiring an additional 65,879 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Community Bank System during the 3rd quarter worth $6,405,000. Swiss National Bank boosted its stake in shares of Community Bank System by 0.6% during the 3rd quarter. Swiss National Bank now owns 118,100 shares of the bank’s stock worth $4,985,000 after acquiring an additional 700 shares in the last quarter. Finally, Tudor Investment Corp Et Al boosted its stake in shares of Community Bank System by 62.7% during the 3rd quarter. Tudor Investment Corp Et Al now owns 113,604 shares of the bank’s stock worth $4,795,000 after acquiring an additional 43,766 shares in the last quarter. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Community Bank System Price Performance

CBU opened at $46.00 on Friday. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 14.47 and a beta of 0.66. Community Bank System, Inc. has a 1 year low of $35.38 and a 1 year high of $55.64. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $45.13 and a 200 day moving average price of $46.00.

Community Bank System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a yield of 3.91%. Community Bank System’s payout ratio is 56.60%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. StockNews.com raised Community Bank System to a “sell” rating in a research report on Friday, January 19th. DA Davidson reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Community Bank System in a research report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Community Bank System currently has a consensus rating of “Hold” and a consensus target price of $47.67.

Insider Activity at Community Bank System

In other Community Bank System news, Director Mark J. Bolus sold 3,631 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $45.00, for a total transaction of $163,395.00. Following the transaction, the director now directly owns 96,364 shares in the company, valued at $4,336,380. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Community Bank System news, Director Mark J. Bolus sold 3,631 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $45.00, for a total transaction of $163,395.00. Following the transaction, the director now directly owns 96,364 shares in the company, valued at $4,336,380. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dimitar Karaivanov bought 1,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average price of $43.70 per share, for a total transaction of $43,700.00. Following the completion of the acquisition, the chief executive officer now owns 16,265 shares of the company’s stock, valued at $710,780.50. The disclosure for this purchase can be found here. Insiders own 1.89% of the company’s stock.

About Community Bank System

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.