GAMMA Investing LLC Increases Holdings in Community Financial System, Inc. (NYSE:CBU)

GAMMA Investing LLC increased its stake in shares of Community Financial System, Inc. (NYSE:CBU - Free Report) by 14,655.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,854 shares of the bank's stock after purchasing an additional 17,733 shares during the quarter. GAMMA Investing LLC's holdings in Community Financial System were worth $1,015,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CBU. Federated Hermes Inc. boosted its holdings in Community Financial System by 12.9% in the fourth quarter. Federated Hermes Inc. now owns 831,387 shares of the bank's stock valued at $51,280,000 after acquiring an additional 94,850 shares during the last quarter. Northern Trust Corp lifted its position 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 purchasing an additional 145,172 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Community Financial System by 1.3% in the 4th 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 last quarter. Bank of New York Mellon Corp boosted its stake in shares of Community Financial System by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 565,920 shares of the bank's stock valued at $34,906,000 after purchasing an additional 34,143 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Community Financial System during the fourth quarter worth $34,779,000. Institutional investors own 73.79% of the company's stock.

Analyst Upgrades and Downgrades

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

Community Financial System Stock Performance

Shares of NYSE CBU traded down $0.11 during trading on Friday, reaching $54.14. 134,401 shares of the stock traded hands, compared to its average volume of 251,075. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $2.86 billion, a P/E ratio of 15.02 and a beta of 0.79. Community Financial System, Inc. has a 52-week low of $43.62 and a 52-week high of $73.39. The company has a 50-day moving average of $55.68 and a 200-day moving average of $59.66.

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 analysts' consensus estimates 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 firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.18 EPS. Analysts forecast that Community Financial System, Inc. will post 4.18 EPS for the current fiscal year.

Community Financial System Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, June 13th. Community Financial System's payout ratio 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.