UBS Group AG Has $11.73 Million Stock Position in Community Financial System, Inc. $CBU

UBS Group AG trimmed its position in Community Financial System, Inc. (NYSE:CBU) by 26.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,127 shares of the bank’s stock after selling 72,311 shares during the quarter. UBS Group AG’s holdings in Community Financial System were worth $11,725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in shares of Community Financial System by 132.9% in the third quarter. Bank of America Corp DE now owns 636,257 shares of the bank’s stock worth $37,310,000 after buying an additional 363,012 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Community Financial System by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock worth $31,308,000 after buying an additional 40,384 shares during the period. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Community Financial System by 740.1% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank’s stock worth $23,059,000 after buying an additional 353,663 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of Community Financial System by 25.3% in the second quarter. Balyasny Asset Management L.P. now owns 354,906 shares of the bank’s stock worth $20,184,000 after purchasing an additional 71,631 shares in the last quarter. Finally, Basswood Capital Management L.L.C. purchased a new stake in shares of Community Financial System in the second quarter worth approximately $15,185,000. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CBU has been the subject of a number of research analyst reports. Raymond James Financial reissued a “strong-buy” rating and issued a $75.00 price target on shares of Community Financial System in a research report on Thursday, April 30th. Piper Sandler increased their price target on shares of Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Finally, DA Davidson initiated coverage on shares of Community Financial System in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price target for the company. One 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.75.

Community Financial System Trading Down 0.7%

NYSE:CBU opened at $61.76 on Friday. Community Financial System, Inc. has a 12 month low of $51.12 and a 12 month high of $67.50. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 14.99 and a beta of 0.78. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $60.44 and its 200-day moving average is $60.27.

Community Financial System (NYSE:CBU) last released its quarterly earnings results on Wednesday, April 29th. The bank reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. The company had revenue of $213.69 million for the quarter, compared to analyst estimates of $216.36 million. During the same quarter last year, the firm posted $0.98 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Community Financial System, Inc. will post 4.74 EPS for the current year.

Community Financial System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be paid a $0.47 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.88 annualized dividend and a dividend yield of 3.0%. Community Financial System’s dividend payout ratio (DPR) is presently 45.63%.

About Community Financial System

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.