FJ Capital Management LLC acquired a new stake in Community Financial System, Inc. (NYSE:CBU - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 105,128 shares of the bank's stock, valued at approximately $5,978,000. FJ Capital Management LLC owned about 0.20% of Community Financial System as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Aquatic Capital Management LLC bought a new position in Community Financial System in the 4th quarter valued at $125,000. KBC Group NV grew its position in shares of Community Financial System by 19.8% during the 1st quarter. KBC Group NV now owns 2,798 shares of the bank's stock worth $159,000 after buying an additional 463 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Community Financial System during the 4th quarter worth $204,000. MQS Management LLC bought a new position in shares of Community Financial System during the 1st quarter worth $205,000. Finally, Stone House Investment Management LLC bought a new position in shares of Community Financial System during the 1st quarter worth $205,000. Institutional investors own 73.79% of the company's stock.
Insider Buying and Selling at Community Financial System
In other news, SVP Jeffrey M. Levy sold 1,440 shares of Community Financial System stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $61.38, for a total value of $88,387.20. Following the completion of the sale, the senior vice president directly owned 6,657 shares of the company's stock, valued at approximately $408,606.66. The trade was a 17.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.01% of the company's stock.
Community Financial System Stock Performance
Community Financial System stock traded down $0.91 during midday trading on Friday, hitting $59.91. 149,360 shares of the company were exchanged, compared to its average volume of 287,665. The firm has a market capitalization of $3.17 billion, a PE ratio of 16.32 and a beta of 0.79. Community Financial System, Inc. has a fifty-two week low of $49.44 and a fifty-two week high of $73.39. The business has a fifty day simple moving average of $57.38 and a two-hundred day simple moving average of $56.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 0.76.
Community Financial System (NYSE:CBU - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The bank reported $0.97 earnings per share (EPS) 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 business had revenue of $199.30 million for the quarter, compared to analysts' expectations of $201.93 million. During the same quarter last year, the business earned $0.95 EPS. The company's quarterly revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Community Financial System, Inc. will post 4.18 earnings per share for the current year.
Community Financial System Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 12th will be paid a $0.47 dividend. 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.1%. Community Financial System's payout ratio is presently 50.14%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Community Financial System from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods decreased their price objective on Community Financial System from $69.00 to $67.00 and set a "market perform" rating for the company in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $68.00.
Read Our Latest Research Report on Community Financial System
About Community Financial System
(
Free Report)
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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