Numerai GP LLC Makes New $4.12 Million Investment in Community Financial System, Inc. $CBU

Numerai GP LLC purchased a new position in shares of Community Financial System, Inc. (NYSE:CBU) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 70,206 shares of the bank’s stock, valued at approximately $4,117,000. Numerai GP LLC owned approximately 0.13% of Community Financial System at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in Community Financial System by 14.9% during the third quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock worth $86,000 after acquiring an additional 189 shares during the last quarter. California State Teachers Retirement System raised its holdings in Community Financial System by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 48,580 shares of the bank’s stock valued at $2,763,000 after acquiring an additional 191 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of 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 purchasing an additional 201 shares during the period. Arizona State Retirement System boosted its holdings in shares of Community Financial System by 1.4% during the third quarter. Arizona State Retirement System now owns 15,639 shares of the bank’s stock worth $917,000 after purchasing an additional 219 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Community Financial System by 0.3% during the second quarter. California Public Employees Retirement System now owns 92,254 shares of the bank’s stock worth $5,246,000 after purchasing an additional 243 shares during the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Insider Activity at Community Financial System

In other Community Financial System news, EVP Maureen A. Gillan-Myer sold 3,450 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $58.85, for a total value of $203,032.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric Stickels sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total value of $129,500.00. Following the sale, the director owned 33,342 shares in the company, valued at approximately $2,158,894.50. The trade was a 5.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 9,696 shares of company stock worth $609,244. 1.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CBU shares. Weiss Ratings upgraded Community Financial System from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Janney Montgomery Scott lowered Community Financial System from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 13th. Piper Sandler assumed coverage on Community Financial System in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 price target for the company. Wall Street Zen downgraded shares of Community Financial System from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Finally, DA Davidson assumed coverage on shares of Community Financial System in a report on Wednesday, February 25th. They set a “neutral” rating and a $72.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $66.67.

Community Financial System Trading Down 0.1%

Shares of CBU opened at $57.36 on Tuesday. Community Financial System, Inc. has a twelve month low of $49.44 and a twelve month high of $67.50. The firm has a market capitalization of $3.02 billion, a P/E ratio of 14.45 and a beta of 0.80. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. The stock’s fifty day simple moving average is $62.36 and its 200 day simple moving average is $59.59.

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

Community Financial System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Monday, March 16th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, March 16th. Community Financial System’s dividend payout ratio (DPR) is currently 47.36%.

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.