Quantinno Capital Management LP Acquires 13,502 Shares of Community Financial System, Inc. $CBU

Quantinno Capital Management LP lifted its holdings in shares of Community Financial System, Inc. (NYSE:CBU) by 191.3% during the first quarter, Holdings Channel.com reports. The firm owned 20,561 shares of the bank’s stock after acquiring an additional 13,502 shares during the quarter. Quantinno Capital Management LP’s holdings in Community Financial System were worth $1,206,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System increased its holdings in Community Financial System by 0.4% in the second quarter. California State Teachers Retirement System now owns 48,580 shares of the bank’s stock valued at $2,763,000 after purchasing an additional 191 shares during the period. Lazard Asset Management LLC lifted its holdings in Community Financial System by 1.0% during the 2nd quarter. Lazard Asset Management LLC now owns 20,468 shares of the bank’s stock worth $1,164,000 after buying an additional 201 shares during the period. Truist Financial Corp lifted its holdings in Community Financial System by 1.8% during the 4th quarter. Truist Financial Corp now owns 12,205 shares of the bank’s stock worth $701,000 after buying an additional 215 shares during the period. Corient Private Wealth LLC grew its position in shares of Community Financial System by 2.4% in the 4th quarter. Corient Private Wealth LLC now owns 10,032 shares of the bank’s stock valued at $577,000 after buying an additional 231 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Community Financial System by 0.3% in the 2nd quarter. California Public Employees Retirement System now owns 92,254 shares of the bank’s stock valued at $5,246,000 after buying an additional 243 shares during the last quarter. Institutional investors own 73.79% of the company’s stock.

Community Financial System Stock Performance

Shares of Community Financial System stock opened at $65.80 on Friday. The business has a 50-day simple moving average of $65.99 and a 200 day simple moving average of $63.36. Community Financial System, Inc. has a one year low of $53.46 and a one year high of $71.11. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 15.27 and a beta of 0.78.

Community Financial System (NYSE:CBU) last announced its quarterly earnings data on Tuesday, July 28th. The bank reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). The firm had revenue of $218.45 million during the quarter, compared to analyst estimates of $221.77 million. Community Financial System had a net margin of 21.79% and a return on equity of 11.47%. The company’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the business posted $1.04 EPS. On average, research analysts anticipate that Community Financial System, Inc. will post 4.6 earnings per share for the current fiscal year.

Community Financial System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Tuesday, September 15th will be issued a $0.49 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.0%. This is an increase from Community Financial System’s previous quarterly dividend of $0.47. Community Financial System’s dividend payout ratio (DPR) is 43.62%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CBU shares. Keefe, Bruyette & Woods lowered their price objective on Community Financial System from $70.00 to $68.00 and set a “market perform” rating for the company in a research report on Thursday, July 30th. Piper Sandler upped their target price on Community Financial System from $66.00 to $71.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. Raymond James Financial reissued a “strong-buy” rating and set a $75.00 target price on shares of Community Financial System in a research report on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

Insiders Place Their Bets

In related news, Director Mark J. Bolus sold 12,191 shares of Community Financial System stock in a transaction 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 completion of the sale, the director owned 94,060 shares of the company’s stock, valued at approximately $6,302,020. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eric Stickels sold 2,000 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $63.98, for a total transaction of $127,960.00. Following the sale, the director owned 31,592 shares of the company’s stock, valued at $2,021,256.16. This trade represents a 5.95% decrease in their position. The SEC filing for this sale provides additional information. 1.15% of the stock is owned by company insiders.

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.