Rafferty Asset Management LLC Acquires 9,943 Shares of Community Financial System, Inc. $CBU

Rafferty Asset Management LLC grew its stake in Community Financial System, Inc. (NYSE:CBU) by 27.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 45,899 shares of the bank’s stock after acquiring an additional 9,943 shares during the quarter. Rafferty Asset Management LLC’s holdings in Community Financial System were worth $2,692,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Envestnet Asset Management Inc. increased its position in shares of Community Financial System by 17.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 114,362 shares of the bank’s stock worth $6,706,000 after purchasing an additional 16,581 shares in the last quarter. Norges Bank bought a new stake in Community Financial System during the second quarter worth about $34,546,000. Public Sector Pension Investment Board increased its holdings in shares of Community Financial System by 14.4% during the third quarter. Public Sector Pension Investment Board now owns 206,169 shares of the bank’s stock worth $12,090,000 after buying an additional 26,002 shares in the last quarter. Atria Investments Inc increased its holdings in shares of Community Financial System by 55.8% during the second quarter. Atria Investments Inc now owns 15,321 shares of the bank’s stock worth $871,000 after buying an additional 5,489 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Community Financial System by 7.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,569 shares of the bank’s stock valued at $772,000 after acquiring an additional 965 shares during the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Financial System Trading Up 0.0%

CBU stock opened at $61.14 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.23. Community Financial System, Inc. has a twelve month low of $49.44 and a twelve month high of $67.50. The company has a market cap of $3.22 billion, a P/E ratio of 15.40 and a beta of 0.80. The business has a fifty day moving average of $62.38 and a 200-day moving average of $59.64.

Community Financial System (NYSE:CBU) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $1.12 EPS 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 return on equity of 11.09% and a net margin of 20.82%.Community Financial System’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.94 earnings per share. As a group, equities research analysts expect that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Monday, March 16th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, March 16th. Community Financial System’s payout ratio is 47.36%.

Insider Activity at Community Financial System

In other news, Director John F. Whipple sold 4,246 shares of the stock in a transaction 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 transaction, the director owned 8,506 shares of the company’s stock, valued at $554,336.02. This represents a 33.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric Stickels sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $64.75, for a total value of $129,500.00. Following the completion of the transaction, the director owned 33,342 shares in the company, valued at $2,158,894.50. This represents a 5.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,696 shares of company stock worth $609,244 over the last ninety days. Company insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wall Street Zen lowered Community Financial System from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Janney Montgomery Scott lowered Community Financial System from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Community Financial System in a research note on Monday, December 29th. DA Davidson assumed coverage on Community Financial System in a report on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price target for the company. Finally, Piper Sandler started coverage on shares of Community Financial System in a research report on Wednesday, December 3rd. They set a “neutral” rating and a $62.00 price target on the stock. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $66.67.

Community Financial System 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.