SG Americas Securities LLC Invests $1.15 Million in Community Financial System, Inc. (NYSE:CBU)

SG Americas Securities LLC bought a new stake in Community Financial System, Inc. (NYSE:CBU - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,178 shares of the bank's stock, valued at approximately $1,147,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. grew its stake in shares of Community Financial System by 13.7% during the fourth quarter. Principal Securities Inc. now owns 1,774 shares of the bank's stock worth $109,000 after purchasing an additional 214 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Community Financial System by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 254,869 shares of the bank's stock worth $15,720,000 after buying an additional 7,160 shares during the period. Truist Financial Corp boosted its stake in shares of Community Financial System by 12.6% during the fourth quarter. Truist Financial Corp now owns 9,484 shares of the bank's stock worth $585,000 after buying an additional 1,063 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Community Financial System by 3.9% during the fourth quarter. New York State Common Retirement Fund now owns 16,883 shares of the bank's stock worth $1,041,000 after buying an additional 634 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in shares of Community Financial System by 12.4% during the fourth quarter. Handelsbanken Fonder AB now owns 11,816 shares of the bank's stock worth $729,000 after buying an additional 1,300 shares during the period. Hedge funds and other institutional investors own 73.79% of the company's stock.

Community Financial System Stock Up 0.4%

CBU stock traded up $0.22 during trading hours on Thursday, hitting $54.16. The company's stock had a trading volume of 162,428 shares, compared to its average volume of 251,497. 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 stock has a 50 day moving average price of $55.68 and a two-hundred day moving average price of $59.66. The company has a market capitalization of $2.86 billion, a PE ratio of 15.00 and a beta of 0.79. Community Financial System, Inc. has a 12 month low of $43.62 and a 12 month high of $73.39.

Community Financial System (NYSE:CBU - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.02. The company had revenue of $196.20 million during the quarter, compared to analysts' expectations of $197.13 million. Community Financial System had a net margin of 19.89% and a return on equity of 10.98%. The business's revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.18 EPS. On average, equities research analysts expect that Community Financial System, Inc. will post 4.18 earnings per share for the current year.

Community Financial System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 13th will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.40%. Community Financial System's dividend payout ratio is 50.97%.

Wall Street Analysts Forecast Growth

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

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.