NFJ Investment Group LLC Sells 30,231 Shares of Community Financial System, Inc. $CBU

NFJ Investment Group LLC decreased its stake in shares of Community Financial System, Inc. (NYSE:CBU) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 695,820 shares of the bank’s stock after selling 30,231 shares during the quarter. Community Financial System comprises about 1.4% of NFJ Investment Group LLC’s portfolio, making the stock its 20th largest holding. NFJ Investment Group LLC owned approximately 1.32% of Community Financial System worth $39,968,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in Community Financial System by 507.0% during the fourth quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock valued at $30,000 after purchasing an additional 436 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Community Financial System by 177.0% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after purchasing an additional 499 shares in the last quarter. Lipe & Dalton purchased a new stake in Community Financial System during the fourth quarter valued at $52,000. Smartleaf Asset Management LLC raised its stake in Community Financial System by 14.9% during the third quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock valued at $86,000 after purchasing an additional 189 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Community Financial System during the first quarter valued at $102,000. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Insider Buying and Selling at Community Financial System

In other news, Director Eric Stickels sold 2,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $63.98, for a total value of $127,960.00. Following the sale, the director owned 31,592 shares of the company’s stock, valued at approximately $2,021,256.16. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CBU shares. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a research note 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 note on Monday, May 11th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $75.00 price target on shares of Community Financial System in a research note on Thursday, April 30th. Piper Sandler upped their price target on shares of Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, DA Davidson started coverage on shares of Community Financial System in a research note on Wednesday, February 25th. They set a “neutral” rating and a $72.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Community Financial System currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.75.

Community Financial System Trading Up 1.0%

Shares of CBU opened at $66.03 on Friday. Community Financial System, Inc. has a twelve month low of $51.12 and a twelve month high of $67.50. The company has a market cap of $3.47 billion, a P/E ratio of 16.03 and a beta of 0.78. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $62.88 and its 200-day simple moving average is $61.34.

Community Financial System (NYSE:CBU) last announced its earnings results on Wednesday, April 29th. The bank reported $1.15 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $213.69 million for the quarter, compared to the consensus estimate of $216.36 million. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, analysts expect that Community Financial System, Inc. will post 4.74 EPS for the current year.

Community Financial System Announces Dividend

The company also recently announced 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 of this dividend is Monday, June 15th. This represents a $1.88 annualized dividend and a dividend yield of 2.8%. Community Financial System’s dividend payout ratio is currently 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.