Legal & General Group Plc Buys Shares of 124,793 Community Financial System, Inc. $CBU

Legal & General Group Plc purchased a new position in shares of Community Financial System, Inc. (NYSE:CBU) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 124,793 shares of the bank’s stock, valued at approximately $8,376,000. Legal & General Group Plc owned about 0.24% of Community Financial System as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. IFP Advisors Inc increased its holdings in Community Financial System by 507.0% in the fourth quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock worth $30,000 after purchasing an additional 436 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Community Financial System by 38.4% during the 2nd quarter. GAMMA Investing LLC now owns 541 shares of the bank’s stock worth $36,000 after buying an additional 150 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Community Financial System by 177.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after acquiring an additional 499 shares in the last quarter. Strs Ohio acquired a new position in shares of Community Financial System during the 1st quarter valued at $102,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Community Financial System during the 2nd quarter valued at $116,000. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Community Financial System news, Director Eric Stickels sold 2,000 shares of Community Financial System stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $63.98, for a total value of $127,960.00. Following the sale, the director owned 31,592 shares of the company’s stock, valued at approximately $2,021,256.16. The trade was a 5.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brenda M. Hall bought 476 shares of the company’s stock in a transaction on Monday, August 24th. The stock was bought 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. The trade was a 1,220.51% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.15% of the company’s stock.

Analysts Set New Price Targets

CBU has been the topic of a number of research reports. Wall Street Zen raised Community Financial System from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Piper Sandler boosted 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. Finally, 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 on the stock in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $71.50.

Community Financial System Stock Down 1.4%

Community Financial System stock opened at $61.86 on Wednesday. Community Financial System, Inc. has a fifty-two week low of $53.46 and a fifty-two week high of $71.11. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.77 and a current ratio of 0.77. The firm’s 50-day simple moving average is $65.86 and its 200 day simple moving average is $63.28. The stock has a market cap of $3.26 billion, a PE ratio of 14.35 and a beta of 0.77.

Community Financial System (NYSE:CBU) last posted its earnings results on Tuesday, July 28th. The bank reported $1.16 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.02). The firm had revenue of $218.45 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 EPS. Research analysts predict that Community Financial System, Inc. will post 4.58 EPS for the current fiscal year.

Community Financial System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders 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 is Tuesday, September 15th. This represents a $1.96 dividend on an annualized basis and a yield of 3.2%. Community Financial System’s dividend payout ratio is currently 43.62%.

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.