Alliance Wealth Advisors LLC Sells 6,576 Shares of Community Bank System, Inc. (NYSE:CBU)

Alliance Wealth Advisors LLC lowered its stake in shares of Community Bank System, Inc. (NYSE:CBU) by 36.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,370 shares of the bank’s stock after selling 6,576 shares during the period. Alliance Wealth Advisors LLC’s holdings in Community Bank System were worth $701,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Riggs Asset Managment Co. Inc. lifted its position in Community Bank System by 14.0% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 6,111 shares of the bank’s stock valued at $378,000 after purchasing an additional 750 shares in the last quarter. Invesco LLC lifted its position in shares of Community Bank System by 7.0% during the 4th quarter. Invesco LLC now owns 6,763 shares of the bank’s stock valued at $417,000 after buying an additional 442 shares in the last quarter. KBC Group NV increased its holdings in Community Bank System by 28.6% in the 4th quarter. KBC Group NV now owns 2,335 shares of the bank’s stock worth $144,000 after acquiring an additional 519 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Community Bank System during the 4th quarter worth approximately $141,000. Finally, Janney Montgomery Scott LLC lifted its holdings in Community Bank System by 1.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 50,322 shares of the bank’s stock valued at $3,104,000 after purchasing an additional 499 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 the company. Keefe, Bruyette & Woods increased their price target on 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. Piper Sandler assumed coverage on Community Bank System in a research note on Thursday, December 5th. They set a “neutral” rating and a $70.00 target price on the stock. Finally, Raymond James upgraded 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 note on Monday, October 28th.

Community Bank System Trading Down 1.7 %

Shares of NYSE CBU opened at $66.83 on Friday. The business has a fifty day moving average price of $64.34 and a 200 day moving average price of $62.23. Community Bank System, Inc. has a 1-year low of $41.50 and a 1-year high of $73.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $3.51 billion, a P/E ratio of 19.43 and a beta of 0.67.

Community Bank System (NYSE:CBU) last released its quarterly earnings results on Tuesday, January 21st. The bank reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The business had revenue of $196.30 million for the quarter, compared to analysts’ expectations of $190.95 million. Community Bank System had a net margin of 19.40% and a return on equity of 10.94%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $0.76 EPS. Equities research analysts expect that Community Bank System, Inc. will post 4.18 EPS for the current fiscal year.

Community Bank System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 14th will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.75%. Community Bank System’s payout ratio is 53.49%.

Insider Buying and Selling

In other Community Bank System news, Director John F. Whipple sold 3,937 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 approximately $425,661.30. The trade was a 40.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeffrey M. Levy sold 1,136 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $65.98, for a total transaction of $74,953.28. Following the completion of the transaction, the senior vice president now directly owns 6,539 shares of the company’s stock, valued at approximately $431,443.22. This represents a 14.80 % decrease in their position. The disclosure for this sale can be found here. 1.89% of the stock is owned by company insiders.

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.