Dynamic Technology Lab Private Ltd Invests $622,000 in Community Financial System, Inc. $CBU

Key Points

• Dynamic Technology Lab Private Ltd invested $622,000 in Community Financial System, acquiring 10,950 shares in the first quarter of this year.
• Community Financial System announced a quarterly dividend increase from $0.46 to $0.47 per share, representing an annual yield of 3.2%.
• The company reported quarterly earnings of $0.97 per share, missing analyst expectations, with revenue growth of 8.4% year-over-year but below projections.

Dynamic Technology Lab Private Ltd acquired a new position in shares of Community Financial System, Inc. (NYSE:CBU - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,950 shares of the bank's stock, valued at approximately $622,000.

A number of other large investors also recently bought and sold shares of the stock. Nuveen LLC purchased a new position in Community Financial System during the first quarter worth about $9,294,000. Invesco Ltd. lifted its holdings in shares of Community Financial System by 80.2% in the 1st quarter. Invesco Ltd. now owns 339,696 shares of the bank's stock worth $19,315,000 after acquiring an additional 151,189 shares during the last quarter. FJ Capital Management LLC acquired a new position in shares of Community Financial System in the 1st quarter worth approximately $5,978,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Community Financial System during the 1st quarter worth approximately $3,986,000. Finally, Public Sector Pension Investment Board increased its holdings in Community Financial System by 27.6% in the 1st quarter. Public Sector Pension Investment Board now owns 167,039 shares of the bank's stock valued at $9,498,000 after purchasing an additional 36,132 shares during the last quarter. Institutional investors and hedge funds own 73.79% of the company's stock.

Community Financial System Stock Performance

Shares of CBU stock opened at $58.97 on Wednesday. Community Financial System, Inc. has a 52 week low of $49.44 and a 52 week high of $73.39. The stock has a market capitalization of $3.12 billion, a PE ratio of 16.07 and a beta of 0.79. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $57.46 and a two-hundred day moving average of $56.78.

Community Financial System (NYSE:CBU - Get Free Report) last issued 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 return on equity of 10.71% and a net margin of 19.91%.The company had revenue of $199.30 million for the quarter, compared to analysts' expectations of $201.93 million. During the same quarter last year, the company earned $0.95 EPS. Community Financial System's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts predict that Community Financial System, Inc. will post 4.18 EPS for the current fiscal year.

Community Financial System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.47 per share. This is a boost from Community Financial System's previous quarterly dividend of $0.46. The ex-dividend date is Friday, September 12th. This represents a $1.88 annualized dividend and a yield of 3.2%. Community Financial System's dividend payout ratio (DPR) is presently 50.14%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Keefe, Bruyette & Woods decreased their price target 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 lowered Community Financial System from a "hold" rating to a "sell" rating in a research note 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. According to data from MarketBeat.com, Community Financial System currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Insider Activity at Community Financial System

In other Community Financial System news, SVP Jeffrey M. Levy sold 1,440 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $61.38, for a total value of $88,387.20. Following the sale, the senior vice president directly owned 6,657 shares of the company's stock, valued at approximately $408,606.66. This represents a 17.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.01% of the company's stock.

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.

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