Quest Partners LLC Acquires Shares of 7,379 Community Bank System, Inc. (NYSE:CBU)

Quest Partners LLC acquired a new stake in shares of Community Bank System, Inc. (NYSE:CBU) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,379 shares of the bank’s stock, valued at approximately $385,000.

A number of other institutional investors also recently bought and sold shares of the business. Federated Hermes Inc. raised its position in Community Bank System by 14.0% in the 4th quarter. Federated Hermes Inc. now owns 536,844 shares of the bank’s stock valued at $27,975,000 after purchasing an additional 65,879 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Community Bank System by 15.7% during the 3rd quarter. Deutsche Bank AG now owns 26,617 shares of the bank’s stock valued at $1,124,000 after acquiring an additional 3,619 shares during the period. Tudor Investment Corp Et Al raised its position in 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 worth $4,795,000 after acquiring an additional 43,766 shares during the last quarter. Fulton Bank N.A. boosted its holdings in Community Bank System by 11.6% in the fourth quarter. Fulton Bank N.A. now owns 5,859 shares of the bank’s stock valued at $305,000 after acquiring an additional 607 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of Community Bank System in the 3rd quarter worth about $810,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

Community Bank System Stock Performance

CBU traded up $0.06 on Friday, hitting $46.47. 163,192 shares of the company’s stock were exchanged, compared to its average volume of 219,608. The firm has a market cap of $2.45 billion, a PE ratio of 14.61 and a beta of 0.66. The stock has a fifty day moving average of $45.69 and a two-hundred day moving average of $46.69. 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 twelve month low of $35.38 and a twelve month high of $55.64.

Community Bank System (NYSE:CBU) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. Community Bank System had a net margin of 16.59% and a return on equity of 8.93%. The firm had revenue of $178.29 million during the quarter, compared to analyst estimates of $178.97 million. On average, research analysts anticipate that Community Bank System, Inc. will post 3.21 earnings per share for the current fiscal year.

Community Bank System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.87%. The ex-dividend date is Friday, June 14th. Community Bank System’s dividend payout ratio (DPR) is currently 56.60%.

Wall Street Analyst Weigh In

Separately, DA Davidson reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Community Bank System in a research report on Thursday, March 14th. Two research 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.com, the stock currently has an average rating of “Hold” and a consensus price target of $47.67.

Community Bank System Company 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.