Principal Financial Group Inc. Buys 7,376 Shares of Community Financial System, Inc. (NYSE:CBU)

Principal Financial Group Inc. grew its position in Community Financial System, Inc. (NYSE:CBU - Free Report) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 262,245 shares of the bank's stock after purchasing an additional 7,376 shares during the period. Principal Financial Group Inc. owned approximately 0.50% of Community Financial System worth $14,911,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Teacher Retirement System of Texas raised its holdings in Community Financial System by 7.4% during the first quarter. Teacher Retirement System of Texas now owns 26,478 shares of the bank's stock worth $1,506,000 after acquiring an additional 1,823 shares in the last quarter. KBC Group NV grew its position in shares of Community Financial System by 19.8% in the first quarter. KBC Group NV now owns 2,798 shares of the bank's stock valued at $159,000 after purchasing an additional 463 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in Community Financial System by 4.3% during the first quarter. Illinois Municipal Retirement Fund now owns 29,309 shares of the bank's stock worth $1,667,000 after buying an additional 1,206 shares in the last quarter. Trust Co. of Vermont grew its position in Community Financial System by 31.5% during the first quarter. Trust Co. of Vermont now owns 8,756 shares of the bank's stock worth $498,000 after buying an additional 2,099 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Community Financial System by 12.5% during the first quarter. QRG Capital Management Inc. now owns 6,563 shares of the bank's stock worth $373,000 after buying an additional 729 shares in the last quarter. Institutional investors own 73.79% of the company's stock.

Community Financial System Trading Down 3.3%

Community Financial System stock traded down $1.93 during trading hours on Tuesday, reaching $56.44. 187,938 shares of the company's stock were exchanged, compared to its average volume of 243,113. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.32. The firm's 50 day simple moving average is $56.90 and its 200 day simple moving average is $58.71. Community Financial System, Inc. has a twelve month low of $49.44 and a twelve month high of $73.39. The firm has a market capitalization of $2.98 billion, a PE ratio of 15.63 and a beta of 0.78.

Community Financial System (NYSE:CBU - Get Free Report) last issued its earnings results on Tuesday, April 29th. The bank reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. Community Financial System had a return on equity of 10.98% and a net margin of 19.89%. The company had revenue of $196.20 million during the quarter, compared to the consensus estimate of $197.13 million. During the same period last year, the business posted $1.18 EPS. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts predict that Community Financial System, Inc. will post 4.18 earnings per share for the current year.

Community Financial System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Friday, June 13th were given a $0.46 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.84 annualized dividend and a yield of 3.26%. Community Financial System's payout ratio is 50.97%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Community Financial System from a "sell" rating to a "hold" rating in a research note on Friday, May 16th.

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.