Tidal Investments LLC Has $1.79 Million Position in Community Bank System, Inc. (NYSE:CBU)

Tidal Investments LLC increased its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 48.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,866 shares of the bank’s stock after purchasing an additional 10,060 shares during the quarter. Tidal Investments LLC owned approximately 0.06% of Community Bank System worth $1,792,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in shares of Community Bank System in the second quarter worth $76,000. KBC Group NV lifted its stake in shares of Community Bank System by 23.6% in the third quarter. KBC Group NV now owns 1,816 shares of the bank’s stock worth $105,000 after buying an additional 347 shares during the last quarter. Stone House Investment Management LLC lifted its stake in shares of Community Bank System by 51.0% in the third quarter. Stone House Investment Management LLC now owns 2,360 shares of the bank’s stock worth $137,000 after buying an additional 797 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Community Bank System by 27.5% in the second quarter. Benjamin Edwards Inc. now owns 3,436 shares of the bank’s stock worth $162,000 after buying an additional 741 shares during the last quarter. Finally, MidWestOne Financial Group Inc. acquired a new stake in shares of Community Bank System in the third quarter worth $232,000. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Community Bank System

In other news, Director John F. Whipple sold 3,937 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $73.10, for a total value of $287,794.70. Following the completion of the transaction, the director now owns 5,823 shares in the company, valued at approximately $425,661.30. This represents a 40.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CBU. Piper Sandler began coverage on shares of Community Bank System in a research note on Thursday, December 5th. They issued a “neutral” rating and a $70.00 price objective for the company. Keefe, Bruyette & Woods boosted their price objective on shares of Community Bank System from $64.00 to $74.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Raymond James upgraded shares of Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price objective for the company in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $65.25.

Community Bank System Trading Down 3.5 %

Shares of CBU stock opened at $65.20 on Wednesday. Community Bank System, Inc. has a 1 year low of $41.50 and a 1 year high of $73.39. The firm’s fifty day simple moving average is $65.14 and its 200 day simple moving average is $58.11. The firm has a market capitalization of $3.43 billion, a P/E ratio of 20.37 and a beta of 0.65. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35.

Community Bank System (NYSE:CBU) last announced its earnings results on Tuesday, October 22nd. The bank reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.05). Community Bank System had a return on equity of 10.52% and a net margin of 18.82%. The company had revenue of $188.94 million for the quarter, compared to the consensus estimate of $186.35 million. During the same period last year, the firm posted $0.82 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that Community Bank System, Inc. will post 3.39 EPS for the current year.

Community Bank System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 13th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Friday, December 13th. Community Bank System’s dividend payout ratio (DPR) is currently 57.32%.

Community Bank System 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.