Ausbil Investment Management Ltd Sells 11,061 Shares of Community Financial System, Inc. (NYSE:CBU)

Ausbil Investment Management Ltd lessened its stake in shares of Community Financial System, Inc. (NYSE:CBU - Free Report) by 66.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,710 shares of the bank's stock after selling 11,061 shares during the period. Ausbil Investment Management Ltd's holdings in Community Financial System were worth $325,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE increased its stake in shares of Community Financial System by 17.1% during the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank's stock worth $67,000 after purchasing an additional 158 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Community Financial System by 140.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank's stock worth $74,000 after buying an additional 702 shares during the last quarter. Principal Securities Inc. raised its stake in shares of Community Financial System by 13.7% in the fourth quarter. Principal Securities Inc. now owns 1,774 shares of the bank's stock valued at $109,000 after buying an additional 214 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of Community Financial System in the fourth quarter valued at $125,000. Finally, Assetmark Inc. bought a new position in shares of Community Financial System during the 4th quarter worth $127,000. Institutional investors own 73.79% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Community Financial System from a "sell" rating to a "hold" rating in a research note on Friday, May 16th.

Community Financial System Trading Down 0.4%

Shares of Community Financial System stock opened at $54.03 on Monday. The company's 50-day moving average price is $55.73 and its 200-day moving average price is $59.44. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.32. Community Financial System, Inc. has a 12-month low of $43.74 and a 12-month high of $73.39. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 14.97 and a beta of 0.79.

Community Financial System (NYSE:CBU - Get Free Report) last posted its earnings results on Tuesday, April 29th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. The business had revenue of $196.20 million for the quarter, compared to analysts' expectations of $197.13 million. Community Financial System had a net margin of 19.89% and a return on equity of 10.98%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 EPS. On average, equities analysts expect that Community Financial System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Financial System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 13th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.41%. The ex-dividend date is Friday, June 13th. Community Financial System's dividend payout ratio is 50.97%.

Community Financial System Company 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.

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