Envestnet Asset Management Inc. Has $4.78 Million Stake in Community Financial System, Inc. (NYSE:CBU)

Envestnet Asset Management Inc. raised its position in Community Financial System, Inc. (NYSE:CBU - Free Report) by 11.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,987 shares of the bank's stock after purchasing an additional 8,810 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.16% of Community Financial System worth $4,775,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Aquatic Capital Management LLC bought a new position in shares of Community Financial System in the fourth quarter worth about $125,000. KBC Group NV increased its stake in Community Financial System by 19.8% during the first quarter. KBC Group NV now owns 2,798 shares of the bank's stock valued at $159,000 after acquiring an additional 463 shares during the period. Mackenzie Financial Corp bought a new position in Community Financial System during the fourth quarter valued at about $204,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Community Financial System during the fourth quarter valued at about $205,000. Finally, Xponance Inc. bought a new position in Community Financial System during the fourth quarter valued at about $232,000. Hedge funds and other institutional investors own 73.79% of the company's stock.

Community Financial System Trading Down 0.1%

Shares of CBU stock traded down $0.04 during trading hours on Monday, reaching $54.25. The company had a trading volume of 266,669 shares, compared to its average volume of 248,785. The company has a 50 day moving average of $56.74 and a 200 day moving average of $58.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 14.78 and a beta of 0.78. Community Financial System, Inc. has a 1-year low of $49.44 and a 1-year high of $73.39.

Community Financial System (NYSE:CBU - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.97 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $201.93 million. During the same period last year, the company earned $0.95 EPS. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Increases Dividend

The company also recently announced 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 represents a $1.88 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, September 12th. This is a boost from Community Financial System's previous quarterly dividend of $0.46. Community Financial System's dividend payout ratio is 50.14%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Community Financial System from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Keefe, Bruyette & Woods lowered 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.

About Community Financial System

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.