Community Financial System, Inc. $CBU Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its position in shares of Community Financial System, Inc. (NYSE:CBU) by 72.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,809 shares of the bank’s stock after selling 9,996 shares during the period. Nisa Investment Advisors LLC’s holdings in Community Financial System were worth $229,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Community Financial System in the second quarter valued at $507,210,000. Dimensional Fund Advisors LP lifted its stake in Community Financial System by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,818,395 shares of the bank’s stock worth $106,647,000 after acquiring an additional 20,428 shares in the last quarter. Bank of America Corp DE lifted its stake in Community Financial System by 3.4% during the 1st quarter. Bank of America Corp DE now owns 598,786 shares of the bank’s stock worth $35,119,000 after acquiring an additional 19,433 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Community Financial System during the 2nd quarter worth about $36,523,000. Finally, Basswood Capital Management L.L.C. purchased a new position in Community Financial System during the 2nd quarter valued at about $21,547,000. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Community Financial System Price Performance

Shares of CBU opened at $62.16 on Friday. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 13.99 and a beta of 0.76. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.21. The firm’s fifty day simple moving average is $61.55 and its 200-day simple moving average is $62.86. Community Financial System, Inc. has a twelve month low of $53.46 and a twelve month high of $71.11.

Community Financial System (NYSE:CBU) last issued its earnings results on Tuesday, October 27th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.08. The business had revenue of $230.21 million during the quarter, compared to analysts’ expectations of $227.15 million. Community Financial System had a net margin of 22.05% and a return on equity of 11.78%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 EPS. Equities analysts forecast that Community Financial System, Inc. will post 4.60 EPS for the current fiscal year.

Community Financial System Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, December 15th. Community Financial System’s dividend payout ratio (DPR) is presently 45.48%.

Analyst Ratings Changes

Several research firms have weighed in on CBU. DA Davidson dropped their target price on Community Financial System from $70.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Keefe, Bruyette & Woods reduced their price target on shares of Community Financial System from $70.00 to $68.00 and set a “market perform” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Community Financial System in a research note on Tuesday, September 29th. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Piper Sandler dropped their price objective on shares of Community Financial System from $71.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.25.

Insider Transactions at Community Financial System

In other Community Financial System news, Director Brenda M. Hall bought 476 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of $63.59 per share, for a total transaction of $30,268.84. Following the completion of the purchase, the director owned 515 shares of the company’s stock, valued at approximately $32,748.85. This represents a 1,220.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.15% of the company’s stock.

Community Financial System Profile

Community Financial System, Inc (NYSE: CBU) is a diversified financial services company headquartered in DeWitt, New York. Formerly known as Community Bank System, Inc, the company traces its banking history to 1866 and operates through Community Bank, N.A., along with other financial services businesses.

Its banking operations provide consumer and commercial deposit accounts, residential and commercial lending, agricultural financing, municipal banking, cash management, and other financial products.