State Street Corp Holds 7.1% Stake in Community Bank System Inc.
Ticker: CBU · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 723188
| Field | Detail |
|---|---|
| Company | Community Bank System, Inc. (CBU) |
| Form Type | SC 13G/A |
| Filed Date | Jan 24, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amended-filing, bank-stock
TL;DR
**State Street still owns 7.1% of Community Bank System, signaling continued institutional confidence.**
AI Summary
State Street Corp, a major financial institution, filed an amended SC 13G/A on January 24, 2024, disclosing its ownership of Common Stock in Community Bank System Inc. As of December 31, 2023, State Street Corp reported beneficial ownership of 4,007,896 shares, representing 7.1% of Community Bank System Inc.'s outstanding shares. This filing indicates a significant institutional stake, which can be a positive signal for investors as it suggests confidence from a large, sophisticated investor.
Why It Matters
This filing shows that a large institutional investor, State Street Corp, maintains a substantial stake in Community Bank System Inc., which can influence market perception and potentially provide stability to the stock.
Risk Assessment
Risk Level: low — This filing is an amendment to a previous disclosure, indicating a stable or slightly adjusted institutional holding rather than a new, volatile event.
Analyst Insight
Investors should note State Street Corp's continued significant holding as a sign of institutional confidence, but also monitor future filings for any changes in their stake, which could signal a shift in sentiment.
Key Numbers
- 4,007,896 — Shares Beneficially Owned (Represents the total number of Common Stock shares of Community Bank System Inc. held by State Street Corp as of December 31, 2023.)
- 7.1% — Percentage of Class (Indicates the proportion of Community Bank System Inc.'s Common Stock beneficially owned by State Street Corp, showing a significant institutional stake.)
Key Players & Entities
- State Street Corp (company) — the entity filing the SC 13G/A, reporting beneficial ownership
- Community Bank System Inc. (company) — the subject company whose securities are being reported
- 4,007,896 (dollar_amount) — the number of shares beneficially owned by State Street Corp
- 7.1% (dollar_amount) — the percentage of Community Bank System Inc.'s class of securities beneficially owned by State Street Corp
- December 31, 2023 (date) — the date of the event which required the filing of this statement
Forward-Looking Statements
- State Street Corp will maintain a significant stake in Community Bank System Inc. throughout 2024. (State Street Corp) — medium confidence, target: 2024-12-31
FAQ
Who filed this SC 13G/A amendment?
State Street Corp filed this SC 13G/A amendment, as indicated in the 'FILED BY' section of the filing.
What is the subject company of this filing?
The subject company is COMMUNITY BANK SYSTEM, INC., as stated under 'SUBJECT COMPANY' and 'NAME OF ISSUER' in the filing.
What type of securities are covered by this filing?
The filing covers 'COMMON STOCK' of Community Bank System Inc., as specified under 'TITLE OF CLASS OF SECURITIES'.
As of what date was the beneficial ownership reported?
The beneficial ownership was reported as of '12/31/2023', which is the 'DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT'.
What rule under the Securities Exchange Act of 1934 is this filing made under?
This schedule is filed pursuant to 'RULE 13D-1 (B)', as indicated by the checked box in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding COMMUNITY BANK SYSTEM, INC. (CBU).