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Virtu Financial LLC Takes Position in Community Financial System, Inc. (NYSE:CBU)

Community Financial System logo with Finance background

Virtu Financial LLC acquired a new position in Community Financial System, Inc. (NYSE:CBU - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 6,234 shares of the bank's stock, valued at approximately $354,000.

Several other large investors also recently bought and sold shares of the business. Invesco Ltd. increased its holdings in Community Financial System by 80.2% in the 1st quarter. Invesco Ltd. now owns 339,696 shares of the bank's stock worth $19,315,000 after buying an additional 151,189 shares in the last quarter. Federated Hermes Inc. increased its holdings in Community Financial System by 0.4% in the 1st quarter. Federated Hermes Inc. now owns 834,490 shares of the bank's stock worth $47,449,000 after buying an additional 3,103 shares in the last quarter. LPL Financial LLC increased its holdings in Community Financial System by 19.0% in the 1st quarter. LPL Financial LLC now owns 27,894 shares of the bank's stock worth $1,586,000 after buying an additional 4,463 shares in the last quarter. Cetera Investment Advisers increased its holdings in Community Financial System by 8.8% in the 1st quarter. Cetera Investment Advisers now owns 10,900 shares of the bank's stock worth $620,000 after buying an additional 884 shares in the last quarter. Finally, Carnegie Investment Counsel increased its holdings in Community Financial System by 10.5% in the 1st quarter. Carnegie Investment Counsel now owns 61,263 shares of the bank's stock worth $3,483,000 after buying an additional 5,818 shares in the last quarter. 73.79% of the stock is currently owned by institutional investors.

Community Financial System Trading Down 0.9%

Shares of NYSE:CBU opened at $58.31 on Friday. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 15.89 and a beta of 0.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 0.76. The stock's 50-day simple moving average is $56.32 and its two-hundred day simple moving average is $57.62. Community Financial System, Inc. has a 52-week low of $49.44 and a 52-week high of $73.39.

Community Financial System (NYSE:CBU - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.06). The firm had revenue of $199.30 million during the quarter, compared to analysts' expectations of $201.93 million. Community Financial System had a return on equity of 10.71% and a net margin of 19.91%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 earnings per share. Analysts expect that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 12th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, September 12th. This is an increase from Community Financial System's previous quarterly dividend of $0.46. Community Financial System's payout ratio is presently 50.14%.

Analyst Ratings Changes

Several research firms recently commented on CBU. Wall Street Zen downgraded Community Financial System from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods dropped their target price on Community Financial System from $69.00 to $67.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 23rd.

Get Our Latest Report on Community Financial System

Community Financial System Company Profile

(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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Institutional Ownership by Quarter for Community Financial System (NYSE:CBU)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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