Community Financial System, Inc. $CBU Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in Community Financial System, Inc. (NYSE:CBU) by 17.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 114,362 shares of the bank’s stock after purchasing an additional 16,581 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Community Financial System were worth $6,706,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Arizona State Retirement System boosted its holdings 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 valued at $917,000 after purchasing an additional 219 shares during the last quarter. AE Wealth Management LLC raised its position in shares of Community Financial System by 6.6% in the 3rd quarter. AE Wealth Management LLC now owns 4,254 shares of the bank’s stock worth $249,000 after buying an additional 263 shares during the period. Truist Financial Corp raised its position in shares of Community Financial System by 14.9% in the 3rd quarter. Truist Financial Corp now owns 11,990 shares of the bank’s stock worth $703,000 after buying an additional 1,558 shares during the period. Covestor Ltd boosted its holdings in Community Financial System by 110.7% in the third quarter. Covestor Ltd now owns 1,479 shares of the bank’s stock valued at $87,000 after acquiring an additional 777 shares during the last quarter. Finally, Anchor Capital Advisors LLC grew its position in Community Financial System by 7.8% during the third quarter. Anchor Capital Advisors LLC now owns 35,616 shares of the bank’s stock valued at $2,089,000 after acquiring an additional 2,592 shares during the period. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Community Financial System Stock Up 0.5%

NYSE CBU opened at $65.02 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.75 and a debt-to-equity ratio of 0.23. Community Financial System, Inc. has a fifty-two week low of $49.44 and a fifty-two week high of $67.50. The business has a 50 day moving average price of $62.04 and a two-hundred day moving average price of $59.27. The stock has a market cap of $3.42 billion, a PE ratio of 16.38 and a beta of 0.81.

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

Community Financial System Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently commented on CBU shares. Janney Montgomery Scott downgraded Community Financial System from a “buy” rating to a “neutral” rating in a report on Tuesday, January 13th. Wall Street Zen downgraded shares of Community Financial System from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Community Financial System in a research report on Monday, December 29th. Finally, Piper Sandler started coverage on shares of Community Financial System in a research note on Wednesday, December 3rd. They set a “neutral” rating and a $62.00 price objective for the company. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $64.00.

Insider Activity

In other news, Director Eric Stickels sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $64.75, for a total transaction of $129,500.00. Following the completion of the sale, the director directly owned 33,342 shares in the company, valued at $2,158,894.50. This trade represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John F. Whipple sold 4,246 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $65.17, for a total value 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 position. Additional details regarding this sale are available in the official SEC disclosure. 1.01% of the stock is owned by company insiders.

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.