Sei Investments Co. Buys 26,269 Shares of Community Financial System, Inc. $CBU

Sei Investments Co. boosted its stake in Community Financial System, Inc. (NYSE:CBU - Free Report) by 94.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,224 shares of the bank's stock after buying an additional 26,269 shares during the period. Sei Investments Co. owned 0.10% of Community Financial System worth $3,180,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Community Financial System in the fourth quarter worth $38,993,000. Bank of America Corp DE grew its position in shares of Community Financial System by 132.9% in the 3rd quarter. Bank of America Corp DE now owns 636,257 shares of the bank's stock worth $37,310,000 after buying an additional 363,012 shares during the period. Riggs Asset Managment Co. Inc. grew its position in shares of Community Financial System by 740.1% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank's stock worth $23,059,000 after buying an additional 353,663 shares during the period. Basswood Capital Management L.L.C. bought a new position in shares of Community Financial System in the 2nd quarter worth about $15,185,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Community Financial System by 10,989.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 200,049 shares of the bank's stock valued at $11,491,000 after acquiring an additional 198,245 shares during the period. 73.79% of the stock is owned by institutional investors.

Insider Transactions at Community Financial System

In related news, Director Mark J. Bolus sold 12,191 shares of the firm's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $67.00, for a total value of $816,797.00. Following the completion of the transaction, the director directly owned 94,060 shares of the company's stock, valued at approximately $6,302,020. This trade represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eric Stickels sold 2,000 shares of the business's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $63.98, for a total transaction of $127,960.00. Following the completion of the sale, the director owned 31,592 shares in the company, valued at $2,021,256.16. This represents a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.15% of the stock is currently owned by insiders.

Community Financial System Trading Down 0.8%

Shares of CBU stock opened at $64.82 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.76 and a quick ratio of 0.77. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 15.04 and a beta of 0.78. Community Financial System, Inc. has a 1 year low of $53.46 and a 1 year high of $71.11. The firm has a fifty day moving average price of $65.78 and a 200-day moving average price of $63.27.

Community Financial System (NYSE:CBU - Get Free Report) last announced its earnings results on Tuesday, July 28th. The bank reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.18 by ($0.02). Community Financial System had a return on equity of 11.47% and a net margin of 21.79%.The company had revenue of $218.45 million during the quarter, compared to the consensus estimate of $221.77 million. During the same period in the prior year, the business posted $1.04 earnings per share. Community Financial System's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that Community Financial System, Inc. will post 4.6 earnings per share for the current year.

Community Financial System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Tuesday, September 15th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.0%. This is a positive change from Community Financial System's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 15th. Community Financial System's payout ratio is presently 43.62%.

Analyst Ratings Changes

CBU has been the subject of several recent research reports. Raymond James Financial reiterated a "strong-buy" rating and set a $75.00 target price on shares of Community Financial System in a report on Thursday, April 30th. Weiss Ratings raised Community Financial System from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods lowered their price objective on Community Financial System from $70.00 to $68.00 and set a "market perform" rating for the company in a research note on Thursday, July 30th. Wall Street Zen downgraded Community Financial System from a "hold" rating to a "sell" rating in a report on Sunday, August 2nd. Finally, Piper Sandler increased their target price on Community Financial System from $66.00 to $71.00 and gave the stock a "neutral" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $71.50.

Community Financial System Profile

Community Financial System NYSE: CBU is the bank holding company for Community Bank, National Association, a full-service commercial bank headquartered in DeWitt, New York. Through its principal subsidiary, the company offers a range of banking and financial services designed to meet the needs of both consumer and business clients. Its organizational structure centers on community-based banking operations supported by centralized technology, risk management and administrative functions.

The company's product offerings include deposit accounts, residential and commercial mortgage loans, commercial and consumer lending, treasury and cash management services, and electronic banking.

Want to see what other hedge funds are holding CBU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Community Financial System, Inc. (NYSE:CBU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source