Invesco Ltd. Buys 151,189 Shares of Community Financial System, Inc. $CBU

Key Points

• Invesco Ltd. has increased its stake in Community Financial System, Inc. by 80.2%, owning 339,696 shares valued at approximately $19.32 million.
• The company declared a quarterly dividend of $0.47 per share, which is an increase from the previous dividend of $0.46, reflecting a yield of 3.3%.
• Community Financial System reported earnings per share (EPS) of $0.97 for the last quarter, missing estimates, and had a net margin of 19.91%.

Invesco Ltd. increased its holdings in shares of Community Financial System, Inc. (NYSE:CBU - Free Report) by 80.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 339,696 shares of the bank's stock after buying an additional 151,189 shares during the quarter. Invesco Ltd. owned 0.64% of Community Financial System worth $19,315,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new stake in Community Financial System during the 4th quarter worth $125,000. KBC Group NV increased its holdings in 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 purchasing an additional 463 shares in the last quarter. Mackenzie Financial Corp bought a new position in Community Financial System during the 4th quarter worth about $204,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Community Financial System during the 4th quarter worth about $205,000. Finally, MQS Management LLC bought a new position in Community Financial System during the 1st quarter worth about $205,000. Institutional investors and hedge funds own 73.79% of the company's stock.

Analyst Upgrades and Downgrades

CBU has been the subject of a number of research reports. Wall Street Zen cut Community Financial System from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods lowered their target price on Community Financial System from $69.00 to $67.00 and set a "market perform" rating for the company in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

Community Financial System Stock Up 0.3%

Shares of NYSE CBU traded up $0.20 during mid-day trading on Wednesday, hitting $61.17. The company had a trading volume of 206,664 shares, compared to its average volume of 335,481. The company has a market capitalization of $3.23 billion, a PE ratio of 16.67 and a beta of 0.80. The firm has a 50-day simple moving average of $56.80 and a two-hundred day simple moving average of $57.17. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. Community Financial System, Inc. has a one year low of $49.44 and a one year high of $73.39.

Community Financial System (NYSE:CBU - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $199.30 million during the quarter, compared to the consensus estimate of $201.93 million. Community Financial System had a net margin of 19.91% and a return on equity of 10.71%. Community Financial System's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. On average, equities analysts expect that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 12th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, September 12th. This is a positive change from Community Financial System's previous quarterly dividend of $0.46. Community Financial System's dividend payout ratio is 50.14%.

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.