6,433 Shares in Community Financial System, Inc. (NYSE:CBU) Acquired by Banque Pictet & Cie SA

Banque Pictet & Cie SA bought a new position in Community Financial System, Inc. (NYSE:CBU - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,433 shares of the bank's stock, valued at approximately $366,000.

Other hedge funds also recently made changes to their positions in the company. US Bancorp DE raised its position in Community Financial System by 17.1% during the fourth quarter. US Bancorp DE now owns 1,081 shares of the bank's stock valued at $67,000 after purchasing an additional 158 shares during the period. Charles Schwab Investment Management Inc. raised its position in Community Financial System by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 661,317 shares of the bank's stock valued at $40,790,000 after purchasing an additional 8,326 shares during the period. Assetmark Inc. purchased a new stake in Community Financial System during the fourth quarter valued at approximately $127,000. Atria Investments Inc raised its position in Community Financial System by 16.0% during the fourth quarter. Atria Investments Inc now owns 8,839 shares of the bank's stock valued at $545,000 after purchasing an additional 1,218 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Community Financial System in the fourth quarter worth approximately $687,000. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Community Financial System Trading Down 2.3%

Shares of NYSE CBU traded down $1.38 during mid-day trading on Friday, reaching $58.12. The company had a trading volume of 297,714 shares, compared to its average volume of 243,090. The business's 50-day moving average is $56.90 and its 200-day moving average is $58.77. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 16.10 and a beta of 0.78. Community Financial System, Inc. has a 52 week low of $49.44 and a 52 week high of $73.39.

Community Financial System (NYSE:CBU - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The bank reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.02. The firm 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.18 earnings per share. Equities analysts expect that Community Financial System, Inc. will post 4.18 earnings per share for the current year.

Community Financial System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Friday, June 13th were paid a $0.46 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.84 annualized dividend and a yield of 3.17%. Community Financial System's dividend payout ratio (DPR) is currently 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.