Envestnet Asset Management Inc. Boosts Stake in Community Financial System, Inc. $CBU

Envestnet Asset Management Inc. lifted its holdings in Community Financial System, Inc. (NYSE:CBU) by 16.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 97,781 shares of the bank’s stock after acquiring an additional 13,794 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Community Financial System were worth $5,561,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. lifted its holdings in Community Financial System by 2.7% during the second quarter. QRG Capital Management Inc. now owns 6,740 shares of the bank’s stock worth $383,000 after acquiring an additional 177 shares during the period. Xponance Inc. increased its position in shares of Community Financial System by 4.9% during the 1st quarter. Xponance Inc. now owns 3,950 shares of the bank’s stock valued at $225,000 after purchasing an additional 186 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Community Financial System by 5.0% during the 2nd quarter. Park Avenue Securities LLC now owns 4,534 shares of the bank’s stock worth $258,000 after purchasing an additional 214 shares during the period. Yousif Capital Management LLC boosted its holdings in shares of Community Financial System by 1.2% in the 2nd quarter. Yousif Capital Management LLC now owns 19,665 shares of the bank’s stock worth $1,118,000 after buying an additional 225 shares during the last quarter. Finally, Rise Advisors LLC grew its position in Community Financial System by 48.8% during the first quarter. Rise Advisors LLC now owns 698 shares of the bank’s stock valued at $40,000 after buying an additional 229 shares during the period. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Community Financial System

In other news, SVP Jeffrey M. Levy sold 1,440 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $61.38, for a total value of $88,387.20. Following the completion of the transaction, the senior vice president directly owned 6,657 shares in the company, valued at approximately $408,606.66. This trade represents a 17.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.01% of the company’s stock.

Community Financial System Trading Down 0.4%

NYSE:CBU opened at $57.13 on Thursday. The company has a market cap of $3.02 billion, a P/E ratio of 14.72 and a beta of 0.79. The stock’s fifty day moving average price is $57.90 and its two-hundred day moving average price is $57.16. Community Financial System, Inc. has a 1 year low of $49.44 and a 1 year high of $73.39. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.75 and a quick ratio of 0.76.

Community Financial System (NYSE:CBU) last announced its quarterly earnings results on Tuesday, October 21st. The bank reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.06. Community Financial System had a return on equity of 11.09% and a net margin of 20.72%.The company had revenue of $206.82 million during the quarter, compared to analysts’ expectations of $206.85 million. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, analysts expect that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Friday, December 12th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, December 12th. This represents a $1.88 annualized dividend and a dividend yield of 3.3%. Community Financial System’s dividend payout ratio is currently 48.45%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CBU shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $66.00 price objective (down previously from $67.00) on shares of Community Financial System in a report on Thursday, October 23rd. Wall Street Zen upgraded shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Community Financial System in a report on Thursday, October 30th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $68.00.

About Community Financial System

Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and other financial services to retail, commercial, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.