Neuberger Berman Discloses 5.0% Stake in Community Bank System

TL;DR

**Neuberger Berman just revealed a 5.0% stake in Community Bank System, signaling institutional confidence.**

AI Summary

Neuberger Berman Group LLC, a major investment firm, reported owning 5.0% of Community Bank System, Inc.'s common stock as of December 31, 2023. This filing indicates Neuberger Berman is a significant passive investor, holding 2,790,361 shares. This matters to investors because a large, reputable institutional investor like Neuberger Berman taking a 5.0% stake can signal confidence in the bank's future, potentially attracting more investment and stabilizing the stock price.

Why It Matters

This filing shows a major institutional investor, Neuberger Berman, has taken a significant passive stake in Community Bank System, Inc., which can be seen as a vote of confidence in the company's stability and future prospects.

Risk Assessment

Risk Level: low — This filing indicates a passive institutional investment, which generally reduces volatility and adds stability to the stock.

Analyst Insight

A smart investor would view Neuberger Berman's 5.0% passive stake as a positive signal, potentially indicating stability and long-term value in Community Bank System, Inc., and might consider further research into the company's fundamentals.

Key Numbers

• 2,790,361 — Shares Beneficially Owned (Represents Neuberger Berman's total holding in Community Bank System, Inc.)
• 5.0% — Percentage of Class Outstanding (Indicates the significant stake Neuberger Berman holds in the company.)
• 203607106 — CUSIP Number (Unique identifier for Community Bank System, Inc.'s common stock.)

Key Players & Entities

• Neuberger Berman Group LLC (company) — reporting person, investment firm
• Community Bank System, Inc. (company) — subject company, issuer
• 2,790,361 (dollar_amount) — shares beneficially owned
• 5.0% (dollar_amount) — percentage of class outstanding
• December 31, 2023 (person) — date of event requiring filing

Forward-Looking Statements

• Community Bank System, Inc. stock may experience increased investor confidence due to Neuberger Berman's significant stake. (Community Bank System, Inc.) — medium confidence, target: Next 6-12 months

FAQ

Filing Documents

• formsc13g-02122024_070256.htm (SC 13G) — 52KB
• 0001415889-24-003333.txt ( ) — 54KB

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Neuberger Berman Group LLC and its affiliates may be deemed to be beneficial owners of securities for purposes of Exchange Act Rule 13d-3 because they or certain affiliated persons have shared power to retain, dispose of or vote the securities of unrelated clients. Neuberger Berman Group LLC or its affiliated persons do not, however, have any economic interest in the securities of those clients. The clients have the sole right to receive and the power to direct the receipt of dividends from or proceeds from the sale of such securities. Other than named in this filing, no one client has an interest of more than 5% of the issuer. With regard to the shares set forth under item 4(c)(ii), Neuberger Berman Group LLC may be deemed to be the beneficial owner for purposes of Rule 13d-3 because certain affiliated persons have shared power to retain, dispose of and vote the securities. In addition to the holdings of individual advisory clients, Neuberger Berman Investment Advisers LLC serves as investment manager of Neuberger Berman Group LLC's various registered mutual funds which hold such shares. The holdings belonging to clients of Neuberger Berman Trust Co N.A., Neuberger Berman Trust Co of Delaware N.A., Neuberger Berman Asia Ltd., Neuberger Berman Canada ULC and Neuberger Berman Investment Advisers LLC are also aggregated to comprise the holdings referenced herein. In addition to the shares set forth under Item 4(c)(ii) for which Neuberger entities also have shared power to dispose of the shares, item 4(c)(iv) also includes shares from individual client accounts over which Neuberger Berman Investment Advisers LLC has shared power to dispose but does not have voting power over these shares. The holdings of Neuberger Berman Trust Co N.A., Neuberger Berman Trust Co of Delaware N.A., Neuberger Berman Asia Ltd., Neuberger Berman Canada ULC and Neuberger Berman Investment Advisers LLC, are also aggre

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. N/A

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. N/A

Certification

Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 12, 2024 Neuberger Berman Group LLC By: /s/ Brad Cetron Name: Brad Cetron Title: Managing Director Date: February 12, 2024 Neuberger Berman Investment Advisers LLC By: /s/ Brad Cetron Name: Brad Cetron Title: Managing Director

View Full Filing

View this SC 13G filing on SEC EDGAR