Pathway Financial Advisors LLC Sells 6,190 Shares of Community Bank System, Inc. (NYSE:CBU)

Pathway Financial Advisors LLC cut its position in shares of Community Bank System, Inc. (NYSE:CBU) by 60.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,014 shares of the bank’s stock after selling 6,190 shares during the period. Pathway Financial Advisors LLC’s holdings in Community Bank System were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Ausbil Investment Management Ltd raised its holdings in shares of Community Bank System by 494.7% in the third quarter. Ausbil Investment Management Ltd now owns 30,552 shares of the bank’s stock valued at $1,774,000 after acquiring an additional 25,415 shares in the last quarter. QRG Capital Management Inc. increased its position in Community Bank System by 19.9% during the 3rd quarter. QRG Capital Management Inc. now owns 5,867 shares of the bank’s stock valued at $341,000 after purchasing an additional 972 shares during the period. Atria Investments Inc raised its holdings in shares of Community Bank System by 30.6% in the 3rd quarter. Atria Investments Inc now owns 7,621 shares of the bank’s stock valued at $443,000 after purchasing an additional 1,787 shares in the last quarter. KBC Group NV lifted its position in shares of Community Bank System by 23.6% in the 3rd quarter. KBC Group NV now owns 1,816 shares of the bank’s stock worth $105,000 after purchasing an additional 347 shares during the period. Finally, Natixis Advisors LLC boosted its stake in shares of Community Bank System by 10.0% during the third quarter. Natixis Advisors LLC now owns 13,488 shares of the bank’s stock valued at $783,000 after purchasing an additional 1,228 shares in the last quarter. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Community Bank System Price Performance

Shares of CBU opened at $65.02 on Monday. The company has a 50 day moving average of $64.03 and a two-hundred day moving average of $62.39. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.42. Community Bank System, Inc. has a twelve month low of $41.50 and a twelve month high of $73.39. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 18.90 and a beta of 0.67.

Community Bank System (NYSE:CBU) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $0.94 earnings per share 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 analysts’ expectations of $190.95 million. During the same quarter last year, the firm earned $0.76 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, analysts predict that Community Bank System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Bank System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.83%. Community Bank System’s payout ratio is 53.49%.

Analyst Ratings Changes

A number of equities analysts recently commented on CBU shares. Keefe, Bruyette & Woods boosted their price objective on shares of Community Bank System from $74.00 to $76.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 22nd. Raymond James raised Community Bank System from a “market perform” rating to a “strong-buy” rating and set a $67.00 price target for the company in a research report on Monday, October 28th. Finally, Piper Sandler started coverage on Community Bank System in a research report on Thursday, December 5th. They set a “neutral” rating and a $70.00 price objective on the stock.

Insider Activity

In other Community Bank System news, SVP Jeffrey M. Levy sold 1,136 shares of the company’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 transaction of $74,953.28. Following the transaction, the senior vice president now owns 6,539 shares in the company, valued at approximately $431,443.22. This represents a 14.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John F. Whipple sold 3,937 shares of Community Bank System stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.10, for a total transaction of $287,794.70. Following the sale, the director now owns 5,823 shares of the company’s stock, valued at $425,661.30. The trade was a 40.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.