Community Financial System, Inc. $CBU Stake Reduced by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its stake in Community Financial System by 0.6% in Q4, selling 38,159 shares and now holds 6,275,222 shares (about 11.92% of the company) valued at roughly $360.45 million.
• The bank reported quarterly EPS of $1.15, beating consensus by $0.05, while revenue was $213.69 million (slightly below estimates) but rose 8.7% year-over-year.
• Community Financial System declared a quarterly dividend of $0.47 (annualized $1.88) with an ex-dividend and record date on June 15 and a yield of 2.9% (payout ratio 45.63%).

Vanguard Group Inc. lowered its position in shares of Community Financial System, Inc. (NYSE:CBU - Free Report) by 0.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,275,222 shares of the bank's stock after selling 38,159 shares during the period. Vanguard Group Inc. owned 11.92% of Community Financial System worth $360,449,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Community Financial System by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,141 shares of the bank's stock worth $1,771,000 after purchasing an additional 1,362 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Community Financial System by 7.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank's stock worth $31,308,000 after buying an additional 40,384 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Community Financial System by 6.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,619 shares of the bank's stock valued at $7,768,000 after acquiring an additional 8,182 shares during the period. Jane Street Group LLC raised its stake in Community Financial System by 523.4% during the 1st quarter. Jane Street Group LLC now owns 145,719 shares of the bank's stock valued at $8,286,000 after acquiring an additional 122,343 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in Community Financial System by 37.5% during the 1st quarter. Intech Investment Management LLC now owns 25,846 shares of the bank's stock valued at $1,470,000 after acquiring an additional 7,052 shares in the last quarter. 73.79% of the stock is currently owned by institutional investors.

Community Financial System Price Performance

Shares of NYSE CBU opened at $63.95 on Thursday. Community Financial System, Inc. has a twelve month low of $51.12 and a twelve month high of $67.50. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $60.35 and a two-hundred day moving average of $60.00. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 15.52 and a beta of 0.78.

Community Financial System (NYSE:CBU - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.05. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. The company had revenue of $213.69 million for the quarter, compared to analysts' expectations of $216.36 million. During the same quarter in the previous year, the company posted $0.98 EPS. The business's revenue was up 8.7% compared to the same quarter last year. As a group, analysts expect that Community Financial System, Inc. will post 4.71 earnings per share for the current fiscal year.

Community Financial System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 15th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.88 annualized dividend and a dividend yield of 2.9%. Community Financial System's dividend payout ratio is currently 45.63%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. DA Davidson assumed coverage on Community Financial System in a research note on Wednesday, February 25th. They issued a "neutral" rating and a $72.00 price target for the company. Piper Sandler upped their price objective on shares of Community Financial System from $62.00 to $66.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. Janney Montgomery Scott lowered shares of Community Financial System from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 13th. Weiss Ratings raised shares of Community Financial System from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, April 7th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $75.00 price target on shares of Community Financial System in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Community Financial System currently has an average rating of "Moderate Buy" and a consensus target price of $69.75.

Community Financial System Profile

Community Financial System NYSE: CBU is the bank holding company for Community Bank, National Association, a full-service commercial bank headquartered in DeWitt, New York. Through its principal subsidiary, the company offers a range of banking and financial services designed to meet the needs of both consumer and business clients. Its organizational structure centers on community-based banking operations supported by centralized technology, risk management and administrative functions.

The company's product offerings include deposit accounts, residential and commercial mortgage loans, commercial and consumer lending, treasury and cash management services, and electronic banking.

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