Deprince Race & Zollo Inc. Lowers Stock Holdings in Community Financial System, Inc. $CBU

Key Points

• Deprince Race & Zollo Inc. cut its stake in Community Financial System (NYSE:CBU) by 18.4%, selling 107,849 shares and leaving 477,683 shares valued at $27.44M (about 0.91% ownership).
• CBU reported quarter results with EPS $1.12 (missed estimates by $0.01) and revenue up 9.8% YoY to $215.6M, and it pays a quarterly dividend of $0.47 (annualized yield ~3.0%, DPR ~47.4%).
• Company insiders have trimmed positions through recent sales, and analysts' consensus sits at a Hold rating with an average price target of $66.67.

Deprince Race & Zollo Inc. reduced its position in shares of Community Financial System, Inc. (NYSE:CBU - Free Report) by 18.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 477,683 shares of the bank's stock after selling 107,849 shares during the period. Deprince Race & Zollo Inc. owned about 0.91% of Community Financial System worth $27,438,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in Community Financial System by 177.0% in the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank's stock valued at $44,000 after purchasing an additional 499 shares during the period. CWM LLC boosted its holdings in Community Financial System by 56.1% in the third quarter. CWM LLC now owns 899 shares of the bank's stock valued at $53,000 after purchasing an additional 323 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Community Financial System by 14.9% in the third quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank's stock valued at $86,000 after purchasing an additional 189 shares during the period. Covestor Ltd boosted its holdings in Community Financial System by 110.7% in the third quarter. Covestor Ltd now owns 1,479 shares of the bank's stock valued at $87,000 after purchasing an additional 777 shares during the period. Finally, Strs Ohio purchased a new position in Community Financial System in the first quarter valued at $102,000. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Community Financial System Stock Up 0.1%

Community Financial System stock opened at $62.50 on Monday. Community Financial System, Inc. has a 1-year low of $50.18 and a 1-year high of $67.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market cap of $3.28 billion, a PE ratio of 15.74 and a beta of 0.77. The stock's fifty day moving average is $61.16 and its two-hundred day moving average is $59.44.

Community Financial System (NYSE:CBU - Get Free Report) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $1.12 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.01). Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. The business had revenue of $215.56 million during the quarter, compared to analyst estimates of $212.85 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. The firm's quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts expect 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 was paid on Friday, April 10th. Shareholders of record on Monday, March 16th were paid a $0.47 dividend. The ex-dividend date was Monday, March 16th. This represents a $1.88 dividend on an annualized basis and a yield of 3.0%. Community Financial System's dividend payout ratio (DPR) is currently 47.36%.

Insiders Place Their Bets

In other Community Financial System news, Director Eric Stickels sold 2,000 shares of the firm's stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $64.75, for a total value of $129,500.00. Following the sale, the director directly owned 33,342 shares in the company, valued at $2,158,894.50. This trade represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John F. Whipple sold 4,246 shares of the firm's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $65.17, for a total value of $276,711.82. Following the completion of the sale, the director owned 8,506 shares in the company, valued at approximately $554,336.02. This represents a 33.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CBU. Janney Montgomery Scott lowered Community Financial System from a "buy" rating to a "neutral" rating in a report on Tuesday, January 13th. DA Davidson began coverage on Community Financial System in a report on Wednesday, February 25th. They issued a "neutral" rating and a $72.00 target price for the company. Weiss Ratings upgraded Community Financial System from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, April 7th. Finally, Wall Street Zen upgraded Community Financial System from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Community Financial System currently has an average rating of "Hold" and an average price target of $66.67.

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.

Want to see what other hedge funds are holding CBU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Community Financial System, Inc. (NYSE:CBU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.