Community Financial System, Inc. $CBU Stock Holdings Reduced by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC reduced its position in Community Financial System, Inc. (NYSE:CBU) by 4.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 353,150 shares of the bank’s stock after selling 18,074 shares during the period. Segall Bryant & Hamill LLC owned about 0.67% of Community Financial System worth $20,712,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Community Financial System during the fourth quarter valued at approximately $38,993,000. Bank of America Corp DE increased its stake in shares of Community Financial System by 132.9% during the 3rd quarter. Bank of America Corp DE now owns 636,257 shares of the bank’s stock worth $37,310,000 after purchasing an additional 363,012 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its stake in shares of Community Financial System by 740.1% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank’s stock worth $23,059,000 after purchasing an additional 353,663 shares during the last quarter. Basswood Capital Management L.L.C. bought a new position in shares of Community Financial System during the 2nd quarter valued at $15,185,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Community Financial System by 10,989.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 200,049 shares of the bank’s stock valued at $11,491,000 after purchasing an additional 198,245 shares in the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Community Financial System

In related news, Director Eric Stickels sold 2,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $63.98, for a total transaction of $127,960.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark J. Bolus sold 12,191 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $67.00, for a total value of $816,797.00. Following the sale, the director owned 94,060 shares of the company’s stock, valued at approximately $6,302,020. The trade was a 11.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.15% of the company’s stock.

Community Financial System Stock Performance

NYSE:CBU opened at $64.67 on Friday. The firm has a market capitalization of $3.40 billion, a PE ratio of 15.00 and a beta of 0.77. Community Financial System, Inc. has a 1 year low of $51.12 and a 1 year high of $71.11. The company has a current ratio of 0.76, a quick ratio of 0.77 and a debt-to-equity ratio of 0.29. The firm’s fifty day simple moving average is $65.58 and its 200 day simple moving average is $63.11.

Community Financial System (NYSE:CBU) last released its earnings results on Tuesday, July 28th. The bank reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). Community Financial System had a return on equity of 11.47% and a net margin of 21.79%.The firm had revenue of $218.45 million for the quarter, compared to analyst estimates of $221.77 million. During the same period in the prior year, the firm earned $1.04 EPS. The firm’s revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts anticipate that Community Financial System, Inc. will post 4.64 EPS for the current year.

Community Financial System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Tuesday, September 15th will be paid a $0.49 dividend. The ex-dividend date is Tuesday, September 15th. This is a boost from Community Financial System’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.0%. Community Financial System’s dividend payout ratio is presently 43.62%.

Analyst Upgrades and Downgrades

CBU has been the topic of several recent research reports. Weiss Ratings upgraded Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Wall Street Zen downgraded Community Financial System from a “hold” rating to a “sell” rating in a research note on Sunday. Keefe, Bruyette & Woods lowered their price objective on Community Financial System from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Thursday. Raymond James Financial reissued a “strong-buy” rating and issued a $75.00 price objective on shares of Community Financial System in a research note on Thursday, April 30th. Finally, Piper Sandler boosted their target price on Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Community Financial System presently has a consensus rating of “Moderate Buy” and an average price target of $70.25.

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.