Community Financial System, Inc. $CBU Shares Sold by UBS Group AG

UBS Group AG lessened its position in Community Financial System, Inc. (NYSE:CBU) by 26.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 204,127 shares of the bank’s stock after selling 72,311 shares during the period. UBS Group AG owned approximately 0.39% of Community Financial System worth $11,725,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Riggs Asset Managment Co. Inc. increased its holdings in shares of Community Financial System by 740.1% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank’s stock worth $23,059,000 after acquiring an additional 353,663 shares during the period. Aureum Wealth Management LLC acquired a new stake in shares of Community Financial System in the 4th quarter worth about $422,000. Lipe & Dalton acquired a new stake in shares of Community Financial System in the 4th quarter worth about $52,000. State of Alaska Department of Revenue increased its holdings in shares of Community Financial System by 1.1% in the 4th quarter. State of Alaska Department of Revenue now owns 29,040 shares of the bank’s stock worth $1,667,000 after acquiring an additional 309 shares during the period. Finally, Trust Co. of Vermont increased its holdings in shares of Community Financial System by 17.5% in the 4th quarter. Trust Co. of Vermont now owns 10,184 shares of the bank’s stock worth $585,000 after acquiring an additional 1,515 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler increased their price objective 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. Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Raymond James Financial reissued a “strong-buy” rating and set a $75.00 target price on shares of Community Financial System in a research note on Thursday, April 30th. DA Davidson started coverage on shares of Community Financial System in a research note on Wednesday, February 25th. They set a “neutral” rating and a $72.00 target price on the stock. Finally, Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Community Financial System has an average rating of “Moderate Buy” and a consensus price target of $69.75.

Community Financial System Stock Performance

Shares of CBU opened at $61.76 on Friday. Community Financial System, Inc. has a one year low of $51.12 and a one year high of $67.50. The company has a 50-day moving average of $60.44 and a two-hundred day moving average of $60.27. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 14.99 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.77 and a quick ratio of 0.76.

Community Financial System (NYSE:CBU) last announced its earnings results on Wednesday, April 29th. The bank reported $1.15 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 company had revenue of $213.69 million during the quarter, compared to analysts’ expectations of $216.36 million. During the same period last year, the company posted $0.98 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Community Financial System, Inc. will post 4.74 earnings per share for the current year.

Community Financial System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 15th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, June 15th. Community Financial System’s dividend payout ratio (DPR) is presently 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.