B. Riley Wealth Advisors Inc. purchased a new stake in Community Bank System, Inc. (NYSE:CBU – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,109 shares of the bank’s stock, valued at approximately $334,000.
Other large investors have also recently added to or reduced their stakes in the company. Profund Advisors LLC lifted its stake in Community Bank System by 27.1% in the first quarter. Profund Advisors LLC now owns 4,759 shares of the bank’s stock valued at $250,000 after acquiring an additional 1,014 shares during the last quarter. Pictet Asset Management SA lifted its stake in shares of Community Bank System by 13.2% during the 1st quarter. Pictet Asset Management SA now owns 6,663 shares of the bank’s stock worth $350,000 after buying an additional 779 shares during the last quarter. Hamel Associates Inc. raised its stake in Community Bank System by 314.7% in the 1st quarter. Hamel Associates Inc. now owns 52,350 shares of the bank’s stock worth $2,748,000 after purchasing an additional 39,725 shares in the last quarter. Federated Hermes Inc. raised its stake in Community Bank System by 1.8% in the 1st quarter. Federated Hermes Inc. now owns 356,418 shares of the bank’s stock worth $18,708,000 after purchasing an additional 6,449 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Community Bank System by 13.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,143 shares of the bank’s stock worth $375,000 after purchasing an additional 857 shares in the last quarter. Institutional investors and hedge funds own 75.39% of the company’s stock.
Community Bank System Price Performance
CBU stock opened at $39.94 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.16. Community Bank System, Inc. has a 12 month low of $39.87 and a 12 month high of $65.93. The firm has a market cap of $2.14 billion, a P/E ratio of 13.92 and a beta of 0.62. The company’s 50-day moving average price is $44.29 and its two-hundred day moving average price is $47.55.
Insider Activity at Community Bank System
In related news, Director Brian R. Ace purchased 2,410 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were bought at an average cost of $41.37 per share, with a total value of $99,701.70. Following the acquisition, the director now owns 65,421 shares of the company’s stock, valued at approximately $2,706,466.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Dimitar Karaivanov purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were bought at an average cost of $44.50 per share, with a total value of $44,500.00. Following the acquisition, the chief operating officer now owns 15,265 shares of the company’s stock, valued at approximately $679,292.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian R. Ace bought 2,410 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The shares were acquired at an average price of $41.37 per share, for a total transaction of $99,701.70. Following the completion of the transaction, the director now owns 65,421 shares in the company, valued at $2,706,466.77. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 4,410 shares of company stock valued at $192,702. 1.89% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
CBU has been the subject of several analyst reports. Raymond James lifted their price objective on shares of Community Bank System from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Hovde Group upgraded shares of Community Bank System from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 28th. Finally, StockNews.com initiated coverage on shares of Community Bank System in a research note on Thursday, October 5th. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $59.83.
Check Out Our Latest Stock Analysis on Community Bank System
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, 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.
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