Community Financial System, Inc. $CBU Position Raised by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its holdings in Community Financial System, Inc. by 27.6% in the first quarter, now owning approximately 0.32% of the company's stock valued at $9.5 million.
• Despite recent upgrades and downgrades from analysts, such as Wall Street Zen's rating change from "hold" to "sell," the stock has shown resilience, recently trading up 0.2%.
• Community Financial System declared a quarterly dividend increase to $0.47, reflecting a 3.2% yield, demonstrating strong financial health with a payout ratio of 50.14%.

Public Sector Pension Investment Board increased its holdings in Community Financial System, Inc. (NYSE:CBU - Free Report) by 27.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,039 shares of the bank's stock after acquiring an additional 36,132 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.32% of Community Financial System worth $9,498,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Deprince Race & Zollo Inc. purchased a new stake in shares of Community Financial System in the fourth quarter valued at about $32,368,000. Nuveen LLC acquired a new stake in Community Financial System in the 1st quarter valued at about $9,294,000. Invesco Ltd. lifted its holdings in Community Financial System by 80.2% in the 1st quarter. Invesco Ltd. now owns 339,696 shares of the bank's stock valued at $19,315,000 after purchasing an additional 151,189 shares in the last quarter. Northern Trust Corp lifted its holdings in Community Financial System by 27.3% in the 4th quarter. Northern Trust Corp now owns 677,841 shares of the bank's stock valued at $41,809,000 after purchasing an additional 145,172 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in Community Financial System in the 4th quarter valued at about $2,040,000. 73.79% of the stock is owned by institutional investors and hedge funds.

Community Financial System Stock Up 1.5%

Shares of CBU stock traded up $0.84 during mid-day trading on Monday, reaching $57.26. 158,257 shares of the company were exchanged, compared to its average volume of 240,931. Community Financial System, Inc. has a fifty-two week low of $49.44 and a fifty-two week high of $73.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $3.03 billion, a P/E ratio of 15.59 and a beta of 0.80. The business's 50 day simple moving average is $56.32 and its 200 day simple moving average is $57.45.

Community Financial System (NYSE:CBU - Get Free Report) last released 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 return on equity of 10.71% and a net margin of 19.91%. The company had revenue of $199.30 million for the quarter, compared to analyst estimates of $201.93 million. During the same period in the previous year, the business posted $0.95 EPS. The firm's quarterly revenue was up 8.4% 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 12th will be paid a $0.47 dividend. The ex-dividend date is Friday, September 12th. This is a positive change from Community Financial System's previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a yield of 3.3%. Community Financial System's dividend payout ratio (DPR) is 50.14%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CBU shares. Wall Street Zen lowered shares of Community Financial System from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods dropped their target price on shares of Community Financial System from $69.00 to $67.00 and set a "market perform" rating for the company in a research report on Wednesday, July 23rd.

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.