Russell Investments Group Ltd. Has $6.14 Million Position in Community Financial System, Inc. $CBU

Key Points

• Russell Investments Group Ltd. increased its stake in Community Financial System, owning 108,063 shares valued at $6.14 million after a 5.3% boost in the first quarter.
• Community Financial System's recent earnings report indicated an EPS of $0.97, missing estimates by $0.06, with quarterly revenue of $199.30 million.
• The company announced a quarterly dividend increase to $0.47 per share, reflecting a yield of 3.3% and a dividend payout ratio of 51.23%.

Russell Investments Group Ltd. boosted its position in shares of Community Financial System, Inc. (NYSE:CBU - Free Report) by 5.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,063 shares of the bank's stock after purchasing 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 SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. grew its holdings in Community Financial System by 0.4% during the first quarter. Federated Hermes Inc. now owns 834,490 shares of the bank's stock valued at $47,449,000 after purchasing an additional 3,103 shares during the period. Northern Trust Corp grew its holdings in Community Financial System by 27.3% during the fourth 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 during the period. Deprince Race & Zollo Inc. acquired a new position in Community Financial System during the fourth quarter valued at approximately $32,368,000. Invesco Ltd. grew its holdings in Community Financial System by 80.2% during the first 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 during the period. Finally, Principal Financial Group Inc. grew its holdings in Community Financial System by 2.9% during the first quarter. Principal Financial Group Inc. now owns 262,245 shares of the bank's stock valued at $14,911,000 after purchasing an additional 7,376 shares during the period. Institutional investors and hedge funds own 73.79% of the company's stock.

Wall Street Analysts Forecast Growth

CBU has been the subject of a number of analyst 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 report on Wednesday, July 23rd. Wall Street Zen cut shares of Community Financial System from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Community Financial System has an average rating of "Moderate Buy" and an average target price of $68.00.

Community Financial System Stock Down 0.1%

Community Financial System stock opened at $57.0340 on Thursday. The stock has a market capitalization of $3.01 billion, a PE ratio of 15.54 and a beta of 0.80. Community Financial System, Inc. has a twelve month low of $49.44 and a twelve month high of $73.39. 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 50 day moving average of $56.29 and a 200-day moving average of $57.39.

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 the consensus estimate of $1.03 by ($0.06). The company had revenue of $199.30 million during the quarter, compared to analyst estimates of $201.93 million. Community Financial System had a net margin of 19.91% and a return on equity of 10.71%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 EPS. On average, equities research analysts anticipate that Community Financial System, Inc. will post 4.18 EPS for the current fiscal year.

Community Financial System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 12th will be issued a dividend of $0.47 per share. 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 annualized dividend and a yield of 3.3%. Community Financial System's dividend payout ratio is currently 51.23%.

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.

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