Public Sector Pension Investment Board Has $12.09 Million Stock Position in Community Financial System, Inc. $CBU

Public Sector Pension Investment Board raised its position in Community Financial System, Inc. (NYSE:CBU) by 14.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,169 shares of the bank’s stock after buying an additional 26,002 shares during the period. Public Sector Pension Investment Board’s holdings in Community Financial System were worth $12,090,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in shares of Community Financial System by 1.5% in the third quarter. Rhumbline Advisers now owns 153,136 shares of the bank’s stock valued at $8,980,000 after acquiring an additional 2,220 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Community Financial System by 14.9% in the third 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 last quarter. Envestnet Asset Management Inc. increased its position in Community Financial System by 17.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 114,362 shares of the bank’s stock valued at $6,706,000 after acquiring an additional 16,581 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Community Financial System by 1.4% in the third quarter. Arizona State Retirement System now owns 15,639 shares of the bank’s stock worth $917,000 after acquiring an additional 219 shares during the last quarter. Finally, AE Wealth Management LLC lifted its position in shares of Community Financial System by 6.6% during the third quarter. AE Wealth Management LLC now owns 4,254 shares of the bank’s stock worth $249,000 after purchasing an additional 263 shares in the last quarter. 73.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $66.00 price target (down previously from $67.00) on shares of Community Financial System in a report on Thursday, October 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Community Financial System in a research report on Monday, December 29th. Piper Sandler initiated coverage on Community Financial System in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 price target on the stock. Janney Montgomery Scott lowered Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. Finally, Wall Street Zen cut Community Financial System from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $64.00.

Insider Buying and Selling at Community Financial System

In other news, Director Eric Stickels sold 2,000 shares of Community Financial System stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $64.75, for a total transaction of $129,500.00. Following the transaction, the director owned 33,342 shares in the company, valued at $2,158,894.50. The trade was a 5.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John F. Whipple sold 4,246 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $65.17, for a total value of $276,711.82. Following the sale, the director directly owned 8,506 shares of the company’s stock, valued at approximately $554,336.02. The trade was a 33.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.01% of the stock is owned by insiders.

Community Financial System Trading Up 0.3%

NYSE CBU opened at $66.29 on Monday. The stock has a 50-day simple moving average of $61.51 and a 200 day simple moving average of $58.91. The company has a market capitalization of $3.49 billion, a PE ratio of 16.70 and a beta of 0.81. The company has a current ratio of 0.75, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. Community Financial System, Inc. has a 12 month low of $49.44 and a 12 month high of $67.50.

Community Financial System (NYSE:CBU) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The firm had revenue of $215.56 million during the quarter, compared to analyst estimates of $212.85 million. Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. Research analysts forecast that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Monday, March 16th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, March 16th. Community Financial System’s dividend payout ratio (DPR) is currently 47.36%.

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.