Community Bank N.A. Sells 16,056 Shares of Community Financial System, Inc. $CBU

Community Bank N.A. trimmed its stake in shares of Community Financial System, Inc. (NYSE:CBU) by 13.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 102,512 shares of the bank’s stock after selling 16,056 shares during the period. Community Bank N.A.’s holdings in Community Financial System were worth $5,888,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of 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 in the last quarter. Lipe & Dalton acquired a new position in Community Financial System during the 4th quarter worth $52,000. CWM LLC boosted its position in Community Financial System by 56.1% in the 3rd quarter. CWM LLC now owns 899 shares of the bank’s stock valued at $53,000 after buying an additional 323 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Community Financial System by 14.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock valued at $86,000 after buying an additional 189 shares during the period. Finally, Covestor Ltd increased its stake in shares of Community Financial System by 110.7% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the bank’s stock valued at $87,000 after buying an additional 777 shares during the period. 73.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CBU shares. 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. Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Janney Montgomery Scott downgraded shares of Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. DA Davidson assumed coverage on shares of Community Financial System in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 target price on the stock. Finally, Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.75.

Community Financial System Stock Down 0.1%

Community Financial System stock opened at $62.42 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.22. Community Financial System, Inc. has a 1-year low of $51.12 and a 1-year high of $67.50. The company has a fifty day simple moving average of $60.40 and a 200 day simple moving average of $60.20. The company has a market cap of $3.28 billion, a P/E ratio of 15.15 and a beta of 0.78.

Community Financial System (NYSE:CBU) last posted its quarterly earnings data on Wednesday, April 29th. The bank reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. The company had revenue of $213.69 million during the quarter, compared to the consensus estimate of $216.36 million. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 EPS. Research analysts anticipate that Community Financial System, Inc. will post 4.74 earnings per share for the current fiscal year.

Community Financial System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.88 annualized dividend and a yield of 3.0%. Community Financial System’s dividend payout ratio is 45.63%.

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.