Maryland State Retirement & Pension System Reduces Stock Holdings in Community Bank System, Inc. (NYSE:CBU)

Maryland State Retirement & Pension System cut its holdings in shares of Community Bank System, Inc. (NYSE:CBU) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,403 shares of the bank’s stock after selling 313 shares during the period. Maryland State Retirement & Pension System’s holdings in Community Bank System were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CBU. Strs Ohio grew its holdings in Community Bank System by 900.0% during the fourth quarter. Strs Ohio now owns 1,000 shares of the bank’s stock worth $52,000 after acquiring an additional 900 shares during the period. Operose Advisors LLC acquired a new stake in shares of Community Bank System during the 3rd quarter worth approximately $166,000. Invesco LLC purchased a new position in shares of Community Bank System during the 4th quarter valued at approximately $181,000. Bailard Inc. acquired a new stake in Community Bank System during the fourth quarter valued at $203,000. Finally, Atria Wealth Solutions Inc. purchased a new position in Community Bank System in the fourth quarter valued at $206,000. 73.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Community Bank System

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

Community Bank System Price Performance

NYSE:CBU opened at $47.27 on Friday. The firm has a market cap of $2.49 billion, a P/E ratio of 14.86 and a beta of 0.66. The stock has a 50 day moving average of $45.32 and a two-hundred day moving average of $46.12. Community Bank System, Inc. has a 12 month low of $35.38 and a 12 month high of $55.64. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Thursday, March 14th. Community Bank System’s dividend payout ratio is currently 56.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. DA Davidson reissued a “neutral” rating and set a $50.00 target price on shares of Community Bank System in a research note on Thursday, March 14th. StockNews.com raised shares of Community Bank System to a “sell” rating in a research note on Friday, January 19th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Community Bank System has an average rating of “Hold” and an average 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.