Maryland State Retirement & Pension System Sells 313 Shares of Community Bank System, Inc. (NYSE:CBU)

Maryland State Retirement & Pension System decreased its stake in Community Bank System, Inc. (NYSE:CBU) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the 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 SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of CBU. Strs Ohio raised its position in shares of Community Bank System by 900.0% in the fourth quarter. Strs Ohio now owns 1,000 shares of the bank’s stock valued at $52,000 after purchasing an additional 900 shares during the period. Operose Advisors LLC bought a new position in shares of Community Bank System in the third quarter worth $166,000. Invesco LLC purchased a new position in shares of Community Bank System in the fourth quarter valued at $181,000. Bailard Inc. purchased a new stake in Community Bank System during the 4th quarter worth about $203,000. Finally, Atria Wealth Solutions Inc. bought a new position in Community Bank System in the 4th quarter worth about $206,000. 73.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Community Bank System Stock Up 0.7 %

Shares of 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. Community Bank System, Inc. has a 1 year low of $35.38 and a 1 year high of $55.64. The stock has a 50 day simple moving average of $45.32 and a two-hundred day simple moving average of $46.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.74 and a quick ratio of 0.74.

Community Bank System Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 3.81%. Community Bank System’s payout ratio is 56.60%.

Insiders Place Their Bets

In other news, CEO Dimitar Karaivanov purchased 1,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $710,780.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Community Bank System news, CEO Dimitar Karaivanov purchased 1,000 shares of Community Bank System stock in a transaction that occurred on Wednesday, February 14th. The shares were bought at an average price 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark J. Bolus sold 3,631 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 96,364 shares in the company, valued at $4,336,380. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.

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.