GSA Capital Partners LLP purchased a new position in shares of Community Financial System, Inc. (NYSE:CBU – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,751 shares of the bank’s stock, valued at approximately $847,000.
Several other large investors have also recently made changes to their positions in CBU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Community Financial System by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,141 shares of the bank’s stock worth $1,771,000 after acquiring an additional 1,362 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Community Financial System by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock worth $31,308,000 after acquiring an additional 40,384 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Community Financial System by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,619 shares of the bank’s stock worth $7,768,000 after acquiring an additional 8,182 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Community Financial System by 523.4% during the first quarter. Jane Street Group LLC now owns 145,719 shares of the bank’s stock worth $8,286,000 after acquiring an additional 122,343 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Community Financial System by 37.5% during the first quarter. Intech Investment Management LLC now owns 25,846 shares of the bank’s stock worth $1,470,000 after acquiring an additional 7,052 shares in the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have commented on CBU. Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Community Financial System from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Raymond James Financial restated a “strong-buy” rating and issued a $75.00 target price on shares of Community Financial System in a report on Thursday, April 30th. Piper Sandler raised their target price on shares of Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, DA Davidson began coverage on shares of Community Financial System in a report on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.75.
Community Financial System Stock Up 0.4%
Shares of Community Financial System stock opened at $63.44 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77. Community Financial System, Inc. has a 52-week low of $51.12 and a 52-week high of $67.50. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 15.40 and a beta of 0.78. The company’s 50 day moving average price is $60.88 and its 200-day moving average price is $60.51.
Community Financial System (NYSE:CBU – Get Free Report) last issued its earnings results on Wednesday, April 29th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.05. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. The firm had revenue of $213.69 million for the quarter, compared to analysts’ expectations of $216.36 million. During the same quarter last year, the business earned $0.98 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. Equities research analysts forecast that Community Financial System, Inc. will post 4.74 EPS for the current year.
Community Financial System Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be issued a $0.47 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.88 annualized dividend and a yield of 3.0%. Community Financial System’s payout ratio is 45.63%.
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.
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