Segall Bryant & Hamill LLC Sells 18,074 Shares of Community Financial System, Inc. $CBU

Segall Bryant & Hamill LLC trimmed its stake in Community Financial System, Inc. (NYSE:CBU) by 4.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 353,150 shares of the bank’s stock after selling 18,074 shares during the period. Segall Bryant & Hamill LLC’s holdings in Community Financial System were worth $20,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of Community Financial System by 507.0% during the fourth quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock valued at $30,000 after buying an additional 436 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Community Financial System by 177.0% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock worth $44,000 after buying an additional 499 shares in the last quarter. Lipe & Dalton acquired a new stake in Community Financial System during the fourth quarter worth about $52,000. Strs Ohio bought a new position in Community Financial System during the first quarter valued at about $102,000. Finally, Kestra Advisory Services LLC bought a new position in Community Financial System during the fourth quarter valued at about $155,000. Institutional investors own 73.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wall Street Zen cut Community Financial System from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings raised Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Raymond James Financial restated a “strong-buy” rating and set a $75.00 price objective on shares of Community Financial System in a research report on Thursday, April 30th. Keefe, Bruyette & Woods cut their target price on Community Financial System from $70.00 to $68.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Piper Sandler raised their target price on Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.25.

Insider Buying and Selling

In related news, Director Mark J. Bolus sold 12,191 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $67.00, for a total transaction of $816,797.00. Following the completion of the transaction, the director owned 94,060 shares in the company, valued at $6,302,020. This trade represents a 11.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Stickels sold 2,000 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $63.98, for a total value of $127,960.00. Following the completion of the sale, the director owned 31,592 shares in the company, valued at $2,021,256.16. This trade represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.15% of the company’s stock.

Community Financial System Stock Performance

NYSE CBU opened at $64.67 on Friday. Community Financial System, Inc. has a twelve month low of $51.12 and a twelve month high of $71.11. The company has a quick ratio of 0.77, a current ratio of 0.76 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.40 billion, a P/E ratio of 15.00 and a beta of 0.77. The company’s 50-day simple moving average is $65.58 and its 200 day simple moving average is $63.11.

Community Financial System (NYSE:CBU) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). The business 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%.The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 EPS. As a group, research analysts forecast that Community Financial System, Inc. will post 4.64 earnings per share for the current fiscal year.

Community Financial System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Tuesday, September 15th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a boost from Community Financial System’s previous quarterly dividend of $0.47. Community Financial System’s 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.