Jacobi Capital Management LLC Has $4.11 Million Holdings in Community Financial System, Inc. $CBU

Jacobi Capital Management LLC reduced its stake in shares of Community Financial System, Inc. (NYSE:CBU) by 66.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,090 shares of the bank’s stock after selling 135,913 shares during the quarter. Jacobi Capital Management LLC owned 0.13% of Community Financial System worth $4,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CBU. State of New Jersey Common Pension Fund D grew its holdings in shares of Community Financial System by 10.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 37,186 shares of the bank’s stock worth $2,181,000 after purchasing an additional 3,571 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Community Financial System by 14.4% in the third quarter. Public Sector Pension Investment Board now owns 206,169 shares of the bank’s stock valued at $12,090,000 after acquiring an additional 26,002 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Community Financial System by 1.5% in the 3rd quarter. Rhumbline Advisers now owns 153,136 shares of the bank’s stock worth $8,980,000 after acquiring an additional 2,220 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Community Financial System by 14.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock worth $86,000 after acquiring an additional 189 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Community Financial System by 17.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 114,362 shares of the bank’s stock valued at $6,706,000 after purchasing an additional 16,581 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

Insider Transactions at Community Financial System

In related news, Director John F. Whipple sold 4,246 shares of Community Financial System stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $65.17, for a total transaction of $276,711.82. Following the completion of the transaction, the director owned 8,506 shares in the company, valued at approximately $554,336.02. This trade represents a 33.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eric Stickels sold 2,000 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total value of $129,500.00. Following the completion of the sale, the director owned 33,342 shares in the company, valued at approximately $2,158,894.50. This trade represents a 5.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.01% of the company’s stock.

Community Financial System Stock Down 0.9%

Community Financial System stock opened at $65.75 on Wednesday. Community Financial System, Inc. has a fifty-two week low of $49.44 and a fifty-two week high of $67.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.75 and a quick ratio of 0.76. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 16.56 and a beta of 0.81. The company’s 50 day simple moving average is $61.79 and its 200 day simple moving average is $59.11.

Community Financial System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.01). The business had revenue of $215.56 million during the quarter, compared to analyst estimates of $212.85 million. Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. Community Financial System’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 earnings per share. As a group, sell-side analysts anticipate that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Monday, March 16th will be paid a $0.47 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.88 dividend on an annualized basis and a yield of 2.9%. Community Financial System’s dividend payout ratio (DPR) is currently 47.36%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Community Financial System in a report on Monday, December 29th. Wall Street Zen cut shares of Community Financial System from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $66.00 target price (down from $67.00) on shares of Community Financial System in a research report on Thursday, October 23rd. Janney Montgomery Scott lowered shares of Community Financial System from a “buy” rating to a “neutral” rating in a report on Tuesday, January 13th. Finally, Piper Sandler started coverage on Community Financial System in a report on Wednesday, December 3rd. They set a “neutral” rating and a $62.00 price objective on the stock. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $64.00.

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.