Community Financial System, Inc. $CBU Holdings Decreased by Algert Global LLC

Key Points

• Algert Global LLC reduced its holdings in Community Financial System, Inc. by 16.5%, owning 57,608 shares valued at approximately $3.28 million after selling 11,370 shares.
• Community Financial System announced a quarterly dividend of $0.47 per share, reflecting an annualized dividend of $1.88 and a yield of 3.3%, up from the previous quarterly dividend of $0.46.
• The company's earnings report for the last quarter showed an EPS of $0.97, missing analysts' expectations of $1.03, along with a revenue of $199.3 million, which was below the anticipated $201.93 million.

Algert Global LLC decreased its position in Community Financial System, Inc. (NYSE:CBU - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,608 shares of the bank's stock after selling 11,370 shares during the period. Algert Global LLC owned approximately 0.11% of Community Financial System worth $3,276,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aquatic Capital Management LLC bought a new position in Community Financial System in the 4th quarter worth about $125,000. KBC Group NV grew its position in Community Financial System by 19.8% in the 1st quarter. KBC Group NV now owns 2,798 shares of the bank's stock worth $159,000 after purchasing an additional 463 shares during the last quarter. Mackenzie Financial Corp bought a new position in Community Financial System in the 4th quarter worth about $204,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Community Financial System during the 4th quarter valued at about $205,000. Finally, MQS Management LLC acquired a new position in Community Financial System during the 1st quarter valued at about $205,000. Institutional investors own 73.79% of the company's stock.

Community Financial System Price Performance

Community Financial System stock traded up $3.0960 during midday trading on Friday, hitting $60.2960. The company's stock had a trading volume of 301,899 shares, compared to its average volume of 335,424. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.38. The stock's 50-day moving average price is $56.40 and its 200-day moving average price is $57.30. Community Financial System, Inc. has a 12 month low of $49.44 and a 12 month high of $73.39. The company has a market capitalization of $3.19 billion, a PE ratio of 16.43 and a beta of 0.80.

Community Financial System (NYSE:CBU - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.97 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.06). Community Financial System had a return on equity of 10.71% and a net margin of 19.91%.The business had revenue of $199.30 million during the quarter, compared to the consensus estimate of $201.93 million. During the same quarter last year, the firm posted $0.95 earnings per share. Community Financial System's revenue was up 8.4% compared to the same quarter last year. Analysts anticipate that Community Financial System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Financial System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 12th will be given a $0.47 dividend. This is a positive change from Community Financial System's previous quarterly dividend of $0.46. The ex-dividend date is Friday, September 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.1%. Community Financial System's dividend payout ratio is 50.14%.

Analyst Upgrades and Downgrades

CBU has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Community Financial System from $69.00 to $67.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of Community Financial System from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Community Financial System presently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

About Community Financial 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.