Benjamin Edwards Inc. Sells 574 Shares of Community Bank System, Inc. (NYSE:CBU)

Benjamin Edwards Inc. lessened its stake in Community Bank System, Inc. (NYSE:CBU) by 23.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,915 shares of the bank’s stock after selling 574 shares during the period. Benjamin Edwards Inc.’s holdings in Community Bank System were worth $100,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CBU. Assenagon Asset Management S.A. purchased a new position in shares of Community Bank System during the third quarter worth approximately $6,405,000. Federated Hermes Inc. lifted its stake in Community Bank System by 38.5% in the third quarter. Federated Hermes Inc. now owns 470,965 shares of the bank’s stock worth $19,879,000 after purchasing an additional 130,970 shares during the last quarter. Numerai GP LLC purchased a new stake in Community Bank System during the third quarter valued at about $2,154,000. Tudor Investment Corp Et Al grew its stake in shares of Community Bank System by 62.7% during the third quarter. Tudor Investment Corp Et Al now owns 113,604 shares of the bank’s stock valued at $4,795,000 after buying an additional 43,766 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in shares of Community Bank System during the third quarter valued at about $1,490,000. Institutional investors own 73.79% of the company’s stock.

Insider Buying and Selling at Community Bank System

In other news, Director Mark J. Bolus sold 3,631 shares of Community Bank System stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $45.00, for a total value of $163,395.00. Following the sale, the director now directly owns 96,364 shares in the company, valued at approximately $4,336,380. The sale 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 company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $45.00, for a total value of $163,395.00. Following the completion of the transaction, the director now directly owns 96,364 shares in the company, valued at approximately $4,336,380. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dimitar Karaivanov bought 1,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was bought at an average cost of $43.70 per share, with a total value of $43,700.00. Following the completion of the transaction, the chief executive officer now owns 16,265 shares in the company, valued at approximately $710,780.50. The disclosure for this purchase can be found here. 1.89% of the stock is currently owned by corporate insiders.

Community Bank System Price Performance

CBU stock opened at $46.00 on Friday. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 14.47 and a beta of 0.66. The firm’s 50-day moving average price is $45.13 and its two-hundred day moving average price is $46.00. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24. Community Bank System, Inc. has a 12-month low of $35.38 and a 12-month high of $55.64.

Community Bank System Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Community Bank System to a “sell” rating in a research note on Friday, January 19th. DA Davidson reissued a “neutral” rating and set a $50.00 price objective on shares of Community Bank System in a research note on Thursday, March 14th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Community Bank System currently has an average rating of “Hold” and a consensus price target of $47.67.

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.