12,210 Shares in Community Financial System, Inc. (NYSE:CBU) Acquired by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd has acquired 12,210 shares of Community Financial System, Inc. (NYSE:CBU), valued at approximately $694,000, reflecting growing interest from institutional investors.
• Community Financial System recently increased its quarterly dividend to $0.47 per share, resulting in an annual yield of 3.46%.
• Analysts forecast a 4.18 EPS for Community Financial System in the current year, despite the company missing EPS expectations in its last earnings report.

Y Intercept Hong Kong Ltd purchased a new stake in Community Financial System, Inc. (NYSE:CBU - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,210 shares of the bank's stock, valued at approximately $694,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. MQS Management LLC acquired a new position in shares of Community Financial System in the first quarter valued at about $205,000. Xponance Inc. lifted its position in Community Financial System by 4.9% during the first quarter. Xponance Inc. now owns 3,950 shares of the bank's stock worth $225,000 after purchasing an additional 186 shares during the period. Banque Pictet & Cie SA bought a new stake in Community Financial System during the first quarter worth about $366,000. Envestnet Asset Management Inc. lifted its position in Community Financial System by 11.7% during the first quarter. Envestnet Asset Management Inc. now owns 83,987 shares of the bank's stock worth $4,775,000 after purchasing an additional 8,810 shares during the period. Finally, Principal Financial Group Inc. lifted its position 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 worth $14,911,000 after purchasing an additional 7,376 shares during the period. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Community Financial System from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Keefe, Bruyette & Woods decreased their price target on Community Financial System from $69.00 to $67.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 23rd.

Community Financial System Price Performance

NYSE CBU traded down $0.70 during trading on Wednesday, hitting $53.30. 262,123 shares of the company's stock were exchanged, compared to its average volume of 255,196. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The company has a market cap of $2.82 billion, a PE ratio of 14.52 and a beta of 0.78. Community Financial System, Inc. has a fifty-two week low of $49.44 and a fifty-two week high of $73.39. The stock's 50 day moving average price is $56.65 and its two-hundred day moving average price is $58.32.

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 firm had revenue of $199.30 million for the quarter, compared to the consensus estimate of $201.93 million. Community Financial System had a return on equity of 10.71% and a net margin of 19.91%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 earnings per share. Research 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 announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders 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 an increase from Community Financial System's previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a yield of 3.53%. Community Financial System's payout ratio is presently 50.14%.

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.