Community Financial System, Inc. $CBU Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Community Financial System, Inc. by 2.2%, selling 14,594 shares, and now holds approximately 1.22% of the company's total shares worth $36.77 million.
• Community Financial System reported a quarterly earnings per share (EPS) of $0.97, which was below the consensus estimate of $1.03, along with a revenue of $199.30 million.
• The company has announced an increase in its quarterly dividend to $0.47, which yields 3.3%, with the scheduled payment on October 10th for shareholders of record on September 12th.

Charles Schwab Investment Management Inc. decreased its holdings in shares of Community Financial System, Inc. (NYSE:CBU - Free Report) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 646,723 shares of the bank's stock after selling 14,594 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.22% of Community Financial System worth $36,773,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Deprince Race & Zollo Inc. purchased a new position in shares of Community Financial System in the fourth quarter worth about $32,368,000. Northern Trust Corp grew its stake in shares of Community Financial System by 27.3% in the 4th quarter. Northern Trust Corp now owns 677,841 shares of the bank's stock worth $41,809,000 after buying an additional 145,172 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Community Financial System in the 4th quarter worth $2,040,000. Deutsche Bank AG grew its stake in shares of Community Financial System by 103.5% in the fourth quarter. Deutsche Bank AG now owns 63,027 shares of the bank's stock worth $3,888,000 after acquiring an additional 32,059 shares during the period. Finally, Quantedge Capital Pte Ltd bought a new position in shares of Community Financial System during the 4th quarter valued at $1,733,000. Institutional investors own 73.79% of the company's stock.

Community Financial System Stock Up 5.3%

Shares of CBU traded up $3.0210 during midday trading on Friday, reaching $60.2210. 144,217 shares of the stock were exchanged, compared to its average volume of 240,025. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $3.18 billion, a P/E ratio of 16.41 and a beta of 0.80. Community Financial System, Inc. has a 52 week low of $49.44 and a 52 week high of $73.39. The company's 50 day moving average is $56.29 and its two-hundred day moving average is $57.34.

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

Community Financial System Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on 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 downgraded Community Financial System from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

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.