New Age Alpha Advisors LLC Cuts Stock Position in Community Financial System, Inc. (NYSE:CBU)

Key Points

• New Age Alpha Advisors LLC has significantly reduced its stake in Community Financial System, Inc. by 71.4%, now holding just 2,729 shares worth approximately $155,000.
• Community Financial System has announced a quarterly dividend increase to $0.47, up from the previous $0.46, reflecting a 3.5% yield.
• Recent research reports have downgraded Community Financial System's stock, with Wall Street Zen changing its rating from "hold" to "sell," and Keefe, Bruyette & Woods decreasing its price target.

New Age Alpha Advisors LLC reduced its stake in Community Financial System, Inc. (NYSE:CBU - Free Report) by 71.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,729 shares of the bank's stock after selling 6,816 shares during the quarter. New Age Alpha Advisors LLC's holdings in Community Financial System were worth $155,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CBU. Aquatic Capital Management LLC acquired a new stake in Community Financial System during the 4th quarter valued at approximately $125,000. KBC Group NV lifted its stake in Community Financial System by 19.8% during the 1st 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 acquired a new stake in Community Financial System during the 4th quarter valued at approximately $204,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Community Financial System during the 4th quarter valued at approximately $205,000. Finally, MQS Management LLC acquired a new stake in Community Financial System during the 1st quarter valued at approximately $205,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CBU has been the subject of several research reports. Keefe, Bruyette & Woods decreased their price objective on shares of 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. Wall Street Zen cut shares of Community Financial System from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd.

Community Financial System Stock Performance

Shares of NYSE:CBU traded down $0.95 during trading on Friday, hitting $57.35. 40,200 shares of the stock traded hands, compared to its average volume of 240,055. 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 company has a market cap of $3.03 billion, a price-to-earnings ratio of 15.65 and a beta of 0.80. The company has a fifty day moving average price of $56.32 and a two-hundred day moving average price of $57.62. Community Financial System, Inc. has a 52-week low of $49.44 and a 52-week high of $73.39.

Community Financial System (NYSE:CBU - Get Free Report) last posted its 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). The firm had revenue of $199.30 million for the quarter, compared to analysts' expectations 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 for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $0.95 earnings per share. As a group, equities analysts predict that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 12th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.3%. 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 payout ratio is presently 50.14%.

Community Financial System 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.