Russell Investments Group Ltd. increased its holdings in shares of Community Financial System, Inc. (NYSE:CBU - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,063 shares of the bank's stock after buying an additional 5,477 shares during the quarter. Russell Investments Group Ltd. owned 0.20% of Community Financial System worth $6,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CBU. Xponance Inc. grew its stake in Community Financial System by 4.9% during the 1st quarter. Xponance Inc. now owns 3,950 shares of the bank's stock valued at $225,000 after purchasing an additional 186 shares during the last quarter. Fulton Bank N.A. grew its stake in Community Financial System by 2.6% during the 1st quarter. Fulton Bank N.A. now owns 9,755 shares of the bank's stock valued at $555,000 after purchasing an additional 249 shares during the last quarter. KBC Group NV grew 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 purchasing an additional 463 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Community Financial System by 11.9% in the 4th quarter. Benjamin Edwards Inc. now owns 5,120 shares of the bank's stock valued at $316,000 after buying an additional 544 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in shares of Community Financial System by 18.0% in the 1st quarter. Park Avenue Securities LLC now owns 4,320 shares of the bank's stock valued at $246,000 after buying an additional 660 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on CBU. 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 report on Wednesday, July 23rd. Wall Street Zen cut Community Financial System from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.00.
Check Out Our Latest Analysis on Community Financial System
Community Financial System Price Performance
NYSE CBU traded up $0.34 during trading hours on Tuesday, reaching $61.03. The company's stock had a trading volume of 245,331 shares, compared to its average volume of 334,034. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 16.63 and a beta of 0.80. Community Financial System, Inc. has a 1-year low of $49.44 and a 1-year high of $73.39. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.76 and a quick ratio of 0.76. The company's 50-day moving average is $56.66 and its two-hundred day moving average is $57.14.
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). The business had revenue of $199.30 million during the quarter, compared to analyst estimates of $201.93 million. Community Financial System had a return on equity of 10.71% and a net margin of 19.91%.The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 EPS. On average, equities analysts predict that Community Financial System, Inc. will post 4.18 EPS for the current year.
Community Financial System Increases Dividend
The firm 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 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 12th. This is a positive change from Community Financial System's previous quarterly dividend of $0.46. Community Financial System's payout ratio is currently 50.14%.
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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