Community Financial System, Inc. $CBU Shares Sold by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA reduced its holdings in Community Financial System, Inc. (NYSE:CBU) by 57.8% during the 4th quarter, Holdings Channel reports. The firm owned 22,251 shares of the bank’s stock after selling 30,535 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Community Financial System were worth $1,278,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc grew its holdings in Community Financial System by 507.0% in 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 during the period. EverSource Wealth Advisors LLC grew its holdings in Community Financial System by 177.0% in 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 during the period. Lipe & Dalton acquired a new stake in Community Financial System in the fourth quarter valued at approximately $52,000. Smartleaf Asset Management LLC grew its holdings in Community Financial System by 14.9% in 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 during the period. Finally, Strs Ohio acquired a new stake in shares of Community Financial System in the first quarter worth approximately $102,000. 73.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. DA Davidson assumed coverage on Community Financial System in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price target on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $75.00 price target on shares of Community Financial System in a research note on Thursday, April 30th. Piper Sandler lifted their price target on Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Wall Street Zen raised Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings raised Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. One 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 company’s stock. Based on data from MarketBeat, Community Financial System currently has an average rating of “Moderate Buy” and an average price target of $69.75.

Community Financial System Stock Performance

NYSE CBU opened at $63.13 on Wednesday. The stock’s fifty day moving average is $63.04 and its two-hundred day moving average is $61.46. The firm has a market capitalization of $3.32 billion, a P/E ratio of 15.32 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77. Community Financial System, Inc. has a fifty-two week low of $51.12 and a fifty-two week high of $67.50.

Community Financial System (NYSE:CBU) last released its quarterly earnings data on Wednesday, April 29th. The bank reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. The company had revenue of $213.69 million for the quarter, compared to analyst estimates of $216.36 million. Community Financial System had a return on equity of 11.24% and a net margin of 21.26%.The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, research analysts anticipate that Community Financial System, Inc. will post 4.74 earnings per share 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. Shareholders of record on Monday, June 15th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.88 dividend on an annualized basis and a yield of 3.0%. Community Financial System’s payout ratio is 45.63%.

Insiders Place Their Bets

In other Community Financial System news, Director Eric Stickels sold 2,000 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $63.98, for a total transaction of $127,960.00. Following the transaction, the director owned 31,592 shares of the company’s stock, valued at approximately $2,021,256.16. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.15% of the company’s stock.

Community Financial System Company 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.