Banque Pictet & Cie SA Makes New Investment in Community Financial System, Inc. (NYSE:CBU)

Banque Pictet & Cie SA bought a new stake in shares of Community Financial System, Inc. (NYSE:CBU - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,433 shares of the bank's stock, valued at approximately $366,000.

Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in shares of Community Financial System by 11.7% in the first quarter. Envestnet Asset Management Inc. now owns 83,987 shares of the bank's stock valued at $4,775,000 after purchasing an additional 8,810 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Community Financial System by 2.9% in the first quarter. Principal Financial Group Inc. now owns 262,245 shares of the bank's stock valued at $14,911,000 after purchasing an additional 7,376 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Community Financial System by 7.4% in the first quarter. Teacher Retirement System of Texas now owns 26,478 shares of the bank's stock valued at $1,506,000 after purchasing an additional 1,823 shares in the last quarter. KBC Group NV grew its position in Community Financial System by 19.8% in the first quarter. KBC Group NV now owns 2,798 shares of the bank's stock worth $159,000 after acquiring an additional 463 shares during the period. Finally, Illinois Municipal Retirement Fund grew its position in Community Financial System by 4.3% in the first quarter. Illinois Municipal Retirement Fund now owns 29,309 shares of the bank's stock worth $1,667,000 after acquiring an additional 1,206 shares during the period. Institutional investors and hedge funds own 73.79% of the company's stock.

Community Financial System Trading Up 0.5%

NYSE:CBU traded up $0.27 during trading hours on Monday, reaching $58.42. 385,970 shares of the stock were exchanged, compared to its average volume of 243,025. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $56.90 and a two-hundred day moving average of $58.71. Community Financial System, Inc. has a twelve month low of $49.44 and a twelve month high of $73.39. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 16.18 and a beta of 0.78.

Community Financial System (NYSE:CBU - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating 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 return on equity of 10.98% and a net margin of 19.89%. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $1.18 earnings per share. On average, equities analysts predict that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Friday, June 13th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Friday, June 13th. Community Financial System's dividend payout ratio is presently 50.97%.

Analyst Upgrades and Downgrades

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

Community Financial System 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.