Northwestern Mutual Wealth Management Co. Has $11.49 Million Stock Holdings in Community Financial System, Inc. $CBU

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Community Financial System, Inc. (NYSE:CBU) by 10,989.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,049 shares of the bank’s stock after buying an additional 198,245 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Community Financial System were worth $11,491,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its holdings 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 buying an additional 189 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of 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 worth $2,763,000 after acquiring an additional 191 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Community Financial System by 1.0% in the 2nd quarter. Lazard Asset Management LLC now owns 20,468 shares of the bank’s stock worth $1,164,000 after acquiring an additional 201 shares in the last quarter. Truist Financial Corp grew its stake in shares of Community Financial System by 1.8% in the 4th quarter. Truist Financial Corp now owns 12,205 shares of the bank’s stock worth $701,000 after acquiring an additional 215 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Community Financial System by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 15,639 shares of the bank’s stock worth $917,000 after acquiring an additional 219 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 target price on shares of Community Financial System in a research note on Thursday, April 30th. DA Davidson assumed coverage on shares of Community Financial System in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 target price for the company. Piper Sandler upped their target price on shares of Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.75.

Community Financial System Price Performance

CBU opened at $63.17 on Friday. The firm has a market cap of $3.32 billion, a P/E ratio of 15.33 and a beta of 0.78. The firm has a 50-day moving average of $60.76 and a 200 day moving average of $60.48. 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 fifty-two week low of $51.12 and a fifty-two week high of $67.50.

Community Financial System (NYSE:CBU) last posted its quarterly earnings results on Wednesday, April 29th. The bank reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.05. The company had revenue of $213.69 million during the quarter, compared to analyst estimates of $216.36 million. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, research analysts expect 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 given a dividend of $0.47 per share. 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 dividend payout ratio is presently 45.63%.

About Community Financial System

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.