Jacobi Capital Management LLC Has $4.11 Million Position in Community Financial System, Inc. $CBU

Jacobi Capital Management LLC cut its holdings in shares of Community Financial System, Inc. (NYSE:CBU) by 66.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,090 shares of the bank’s stock after selling 135,913 shares during the period. Jacobi Capital Management LLC’s holdings in Community Financial System were worth $4,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank acquired a new position in Community Financial System during the second quarter worth about $34,546,000. Basswood Capital Management L.L.C. acquired a new stake in Community Financial System in the second quarter valued at approximately $15,185,000. FJ Capital Management LLC grew its stake in shares of Community Financial System by 157.0% during the second quarter. FJ Capital Management LLC now owns 270,197 shares of the bank’s stock worth $15,366,000 after buying an additional 165,069 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Community Financial System by 523.4% during the first quarter. Jane Street Group LLC now owns 145,719 shares of the bank’s stock worth $8,286,000 after buying an additional 122,343 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Community Financial System by 25.3% during the second quarter. Balyasny Asset Management L.P. now owns 354,906 shares of the bank’s stock worth $20,184,000 after buying an additional 71,631 shares in the last quarter. Institutional investors own 73.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $66.00 price target (down from $67.00) on shares of Community Financial System in a research note on Thursday, October 23rd. Janney Montgomery Scott lowered shares of Community Financial System from a “buy” rating to a “neutral” rating in a report on Tuesday, January 13th. Piper Sandler initiated coverage on shares of Community Financial System in a research note on Wednesday, December 3rd. They set a “neutral” rating and a $62.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Community Financial System in a research note on Monday, December 29th. Finally, Wall Street Zen lowered Community Financial System from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, Community Financial System has a consensus rating of “Hold” and an average target price of $64.00.

Community Financial System Trading Down 0.9%

NYSE:CBU opened at $65.75 on Wednesday. Community Financial System, Inc. has a 52 week low of $49.44 and a 52 week high of $67.50. The firm has a 50-day moving average price of $61.79 and a two-hundred day moving average price of $59.11. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.76 and a current ratio of 0.75. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 16.56 and a beta of 0.81.

Community Financial System (NYSE:CBU) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The business had revenue of $215.56 million during the quarter, compared to the consensus estimate of $212.85 million. Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 EPS. On average, equities analysts expect that Community Financial System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Financial System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Monday, March 16th will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.88 annualized dividend and a yield of 2.9%. Community Financial System’s payout ratio is currently 47.36%.

Insider Transactions at Community Financial System

In other news, Director Eric Stickels sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total transaction of $129,500.00. Following the completion of the sale, the director owned 33,342 shares in the company, valued at $2,158,894.50. This trade represents a 5.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John F. Whipple sold 4,246 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $65.17, for a total value of $276,711.82. Following the transaction, the director directly owned 8,506 shares in the company, valued at $554,336.02. This represents a 33.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.01% of the stock is owned by insiders.

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.