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

Benjamin Edwards Inc. lowered its position in Community Bank System, Inc. (NYSE:CBU) by 23.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,915 shares of the bank’s stock after selling 574 shares during the quarter. Benjamin Edwards Inc.’s holdings in Community Bank System were worth $100,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Community Bank System by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 559,454 shares of the bank’s stock worth $23,615,000 after buying an additional 17,696 shares during the period. Federated Hermes Inc. lifted its stake in Community Bank System by 14.0% in the fourth quarter. Federated Hermes Inc. now owns 536,844 shares of the bank’s stock worth $27,975,000 after acquiring an additional 65,879 shares during the period. Assenagon Asset Management S.A. bought a new position in Community Bank System during the 3rd quarter worth about $6,405,000. Swiss National Bank increased its position in Community Bank System by 0.6% during the 3rd quarter. Swiss National Bank now owns 118,100 shares of the bank’s stock valued at $4,985,000 after purchasing an additional 700 shares during the period. Finally, Tudor Investment Corp Et Al increased its position in Community Bank System by 62.7% during the 3rd quarter. Tudor Investment Corp Et Al now owns 113,604 shares of the bank’s stock valued at $4,795,000 after purchasing an additional 43,766 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CBU has been the topic of a number of recent research reports. DA Davidson reiterated a “neutral” rating and set a $50.00 price objective on shares of Community Bank System in a research note on Thursday, March 14th. StockNews.com raised Community Bank System to a “sell” rating in a research report on Friday, January 19th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.67.

Insider Buying and Selling at Community Bank System

In other Community Bank System news, CEO Dimitar Karaivanov purchased 1,000 shares of Community Bank System stock in a transaction dated Wednesday, February 14th. The shares were acquired 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 transaction was disclosed in a filing with the SEC, which is available at this link. In other Community Bank System news, CEO Dimitar Karaivanov purchased 1,000 shares of the firm’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 completion of the purchase, the chief executive officer now owns 16,265 shares in the company, valued at approximately $710,780.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark J. Bolus sold 3,631 shares of the business’s stock in a transaction dated 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 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 owned by insiders.

Community Bank System Stock Performance

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

Community Bank System Dividend Announcement

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

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.