NFJ Investment Group LLC Purchases New Shares in Community Financial System, Inc. $CBU

NFJ Investment Group LLC acquired a new stake in Community Financial System, Inc. (NYSE:CBU) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 260,075 shares of the bank’s stock, valued at approximately $17,456,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. IFP Advisors Inc increased its stake in shares of Community Financial System by 507.0% in the fourth quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock valued at $30,000 after buying an additional 436 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Community Financial System by 38.4% in the second quarter. GAMMA Investing LLC now owns 541 shares of the bank’s stock valued at $36,000 after buying an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Community Financial System by 177.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock worth $44,000 after buying an additional 499 shares in the last quarter. Strs Ohio acquired a new position in Community Financial System during the 1st quarter worth about $102,000. Finally, Kestra Advisory Services LLC bought a new stake in Community Financial System during the 4th quarter worth about $155,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Financial System Trading Down 0.0%

Shares of CBU opened at $63.12 on Friday. The stock’s fifty day simple moving average is $65.93 and its 200-day simple moving average is $63.43. The firm has a market capitalization of $3.32 billion, a PE ratio of 14.65 and a beta of 0.78. Community Financial System, Inc. has a 12-month low of $53.46 and a 12-month high of $71.11. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.29.

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 return on equity of 11.47% and a net margin of 21.79%.Community Financial System’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 earnings per share. As a group, research analysts predict that Community Financial System, Inc. will post 4.6 earnings per share for the current year.

Community Financial System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Tuesday, September 15th will be paid a $0.49 dividend. This is a boost from Community Financial System’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.96 annualized dividend and a dividend yield of 3.1%. Community Financial System’s payout ratio is 43.62%.

Insider Activity

In related news, Director Mark J. Bolus sold 12,191 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $67.00, for a total transaction of $816,797.00. Following the completion of the sale, the director directly owned 94,060 shares of the company’s stock, valued at $6,302,020. The trade was a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Eric Stickels sold 2,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director owned 31,592 shares in the company, valued at $2,021,256.16. This represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of 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. Wall Street Zen upgraded shares of Community Financial System from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. Piper Sandler increased their price target on shares of Community Financial System from $66.00 to $71.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Raymond James Financial reissued a “strong-buy” rating and set a $75.00 price target on shares of Community Financial System in a research note on Thursday, April 30th. Finally, Weiss Ratings raised 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 given a Hold rating to the company. According to MarketBeat.com, Community Financial System has an average rating of “Moderate Buy” and a consensus price target of $71.50.

Community Financial System Company 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.