Susquehanna Fundamental Investments LLC Purchases Shares of 18,874 Community Financial System, Inc. $CBU

Key Points

• Susquehanna Fundamental Investments acquired 18,874 shares of Community Financial System in the second quarter, valued at approximately $1.27 million. Institutional investors collectively own 73.79% of the company.
• Community Financial System’s latest quarterly results fell slightly short of expectations, with EPS of $1.16 versus the $1.18 consensus and revenue of $218.45 million versus $221.77 million expected. Revenue still increased 12% year over year.
• The company raised its quarterly dividend to $0.49 per share, equating to an annualized $1.96 dividend and a 3.2% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $71.50, compared with the reported share price of $61.86.

Susquehanna Fundamental Investments LLC purchased a new position in Community Financial System, Inc. (NYSE:CBU - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 18,874 shares of the bank's stock, valued at approximately $1,267,000.

A number of other large investors have also recently made changes to their positions in CBU. IFP Advisors Inc increased its position in shares of Community Financial System by 507.0% in the 4th quarter. IFP Advisors Inc now owns 522 shares of the bank's stock valued at $30,000 after acquiring an additional 436 shares during the period. GAMMA Investing LLC lifted its position in Community Financial System by 38.4% during the 2nd quarter. GAMMA Investing LLC now owns 541 shares of the bank's stock worth $36,000 after acquiring an additional 150 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Community Financial System during the 2nd quarter worth about $44,000. EverSource Wealth Advisors LLC grew its stake in Community Financial System by 177.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank's stock valued at $44,000 after purchasing an additional 499 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in Community Financial System during the 2nd quarter valued at about $116,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Community Financial System news, Director Mark J. Bolus sold 12,191 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $67.00, for a total value of $816,797.00. Following the sale, the director owned 94,060 shares in the company, valued at approximately $6,302,020. This represents a 11.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brenda M. Hall acquired 476 shares of the company's stock in a transaction dated Monday, August 24th. The shares were purchased at an average cost of $63.59 per share, for a total transaction of $30,268.84. Following the purchase, the director directly owned 515 shares in the company, valued at approximately $32,748.85. This trade represents a 1,220.51% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.15% of the company's stock.

Community Financial System Stock Performance

NYSE CBU opened at $61.86 on Wednesday. The firm has a market capitalization of $3.26 billion, a P/E ratio of 14.35 and a beta of 0.77. The stock has a 50-day simple moving average of $65.86 and a two-hundred day simple moving average of $63.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.77 and a current ratio of 0.77. Community Financial System, Inc. has a fifty-two week low of $53.46 and a fifty-two week high of $71.11.

Community Financial System (NYSE:CBU - Get Free Report) last issued 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). The company had revenue of $218.45 million during the quarter, compared to analysts' expectations of $221.77 million. Community Financial System had a return on equity of 11.47% and a net margin of 21.79%.The firm's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.04 EPS. On average, equities analysts forecast that Community Financial System, Inc. will post 4.58 earnings per share for the current year.

Community Financial System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 15th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This is a boost from Community Financial System's previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a yield of 3.2%. Community Financial System's dividend payout ratio is presently 43.62%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen upgraded Community Financial System from a "sell" rating to a "hold" rating in a research note on Monday, August 10th. Piper Sandler increased their price target on shares of Community Financial System from $66.00 to $71.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Weiss Ratings raised shares of Community Financial System from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 2nd. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $71.50.

Community Financial System Company 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.

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