Federated Hermes Inc. Cuts Stock Position in Community Financial System, Inc. $CBU

Federated Hermes Inc. lessened its holdings in Community Financial System, Inc. (NYSE:CBU) by 9.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 757,625 shares of the bank’s stock after selling 76,865 shares during the quarter. Federated Hermes Inc. owned 1.43% of Community Financial System worth $43,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CBU. Norges Bank purchased a new position in shares of Community Financial System in the 2nd quarter worth about $34,546,000. Nuveen LLC purchased a new position in Community Financial System in the first quarter valued at about $9,294,000. Invesco Ltd. boosted its stake in Community Financial System by 80.2% in the first quarter. Invesco Ltd. now owns 339,696 shares of the bank’s stock valued at $19,315,000 after acquiring an additional 151,189 shares during the last quarter. Jane Street Group LLC grew its position in shares of Community Financial System by 523.4% during the 1st quarter. Jane Street Group LLC now owns 145,719 shares of the bank’s stock valued at $8,286,000 after acquiring an additional 122,343 shares during the period. Finally, FJ Capital Management LLC purchased a new stake in shares of Community Financial System during the 1st quarter worth approximately $5,978,000. 73.79% of the stock is currently owned by institutional investors.

Community Financial System Price Performance

Shares of NYSE CBU opened at $59.42 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 0.76. Community Financial System, Inc. has a fifty-two week low of $49.44 and a fifty-two week high of $69.69. The stock has a market cap of $3.13 billion, a PE ratio of 15.31 and a beta of 0.79. The stock has a fifty day moving average of $56.91 and a 200-day moving average of $57.20.

Community Financial System (NYSE:CBU) last issued its quarterly earnings data on Tuesday, October 21st. The bank reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.06. Community Financial System had a return on equity of 11.09% and a net margin of 20.72%.The business had revenue of $206.82 million for the quarter, compared to analysts’ expectations of $206.85 million. During the same quarter in the prior year, the firm posted $0.88 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Equities research analysts anticipate that Community Financial System, Inc. will post 4.18 earnings per share for the current year.

Community Financial System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Friday, December 12th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, December 12th. Community Financial System’s dividend payout ratio is presently 48.45%.

Analyst Ratings Changes

Several equities analysts recently commented on CBU shares. Piper Sandler began coverage on Community Financial System in a research note on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 price objective on the stock. Wall Street Zen cut Community Financial System from a “hold” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $66.00 price objective (down previously from $67.00) on shares of Community Financial System in a report on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Community Financial System in a research note on Monday, December 1st. Three analysts have rated the stock with a Hold rating, According to MarketBeat, Community Financial System presently has an average rating of “Hold” and a consensus target price of $64.00.

Community Financial System Profile

Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and other financial services to retail, commercial, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.