Segall Bryant & Hamill LLC Has $28.54 Million Stake in Community Bank System, Inc. (NYSE:CBU)

Segall Bryant & Hamill LLC reduced its position in shares of Community Bank System, Inc. (NYSE:CBU) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 462,660 shares of the bank’s stock after selling 17,185 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Community Bank System were worth $28,537,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Assenagon Asset Management S.A. raised its position in Community Bank System by 699.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 144,817 shares of the bank’s stock valued at $8,932,000 after buying an additional 126,700 shares during the period. Jane Street Group LLC increased its holdings in shares of Community Bank System by 151.8% in the 3rd quarter. Jane Street Group LLC now owns 127,227 shares of the bank’s stock valued at $7,388,000 after purchasing an additional 76,703 shares during the period. Barclays PLC lifted its position in shares of Community Bank System by 99.0% in the third quarter. Barclays PLC now owns 109,647 shares of the bank’s stock worth $6,367,000 after purchasing an additional 54,554 shares in the last quarter. Algert Global LLC boosted its holdings in shares of Community Bank System by 371.9% during the third quarter. Algert Global LLC now owns 64,193 shares of the bank’s stock worth $3,728,000 after purchasing an additional 50,590 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Community Bank System by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank’s stock valued at $34,906,000 after purchasing an additional 34,143 shares in the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CBU shares. Piper Sandler began coverage on shares of Community Bank System in a research note on Thursday, December 5th. They set a “neutral” rating and a $70.00 target price for the company. Keefe, Bruyette & Woods lifted their price objective on Community Bank System from $74.00 to $76.00 and gave the company a “market perform” rating in a research report on Wednesday, January 22nd.

Insiders Place Their Bets

In other news, SVP Jeffrey M. Levy sold 1,136 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $65.98, for a total value of $74,953.28. Following the completion of the sale, the senior vice president now directly owns 6,539 shares in the company, valued at approximately $431,443.22. The trade was a 14.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.89% of the company’s stock.

Community Bank System Stock Performance

CBU stock opened at $58.32 on Tuesday. The firm has a 50 day moving average of $62.67 and a two-hundred day moving average of $62.63. Community Bank System, Inc. has a 12 month low of $41.50 and a 12 month high of $73.39. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 16.95 and a beta of 0.66. 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 (NYSE:CBU) last posted its earnings results on Tuesday, January 21st. The bank reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The firm had revenue of $196.30 million for the quarter, compared to the consensus estimate of $190.95 million. During the same period in the prior year, the business posted $0.76 earnings per share. The business’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities analysts anticipate that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 14th will be issued a $0.46 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.84 annualized dividend and a yield of 3.15%. Community Bank System’s dividend payout ratio (DPR) is currently 53.49%.

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.