SG Americas Securities LLC Has $9.70 Million Stake in Community Financial System, Inc. $CBU

SG Americas Securities LLC raised its stake in shares of Community Financial System, Inc. (NYSE:CBU) by 2,430.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 168,892 shares of the bank’s stock after acquiring an additional 162,218 shares during the quarter. SG Americas Securities LLC’s holdings in Community Financial System were worth $9,701,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CBU. Norges Bank acquired a new stake in Community Financial System during the second quarter worth about $34,546,000. Bank of America Corp DE raised its holdings in Community Financial System by 132.9% in the 3rd quarter. Bank of America Corp DE now owns 636,257 shares of the bank’s stock valued at $37,310,000 after acquiring an additional 363,012 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new position in Community Financial System in the 2nd quarter valued at approximately $15,185,000. FJ Capital Management LLC lifted its position in shares of Community Financial System by 157.0% in the 2nd quarter. FJ Capital Management LLC now owns 270,197 shares of the bank’s stock worth $15,366,000 after acquiring an additional 165,069 shares during the period. Finally, UBS Group AG grew its holdings in shares of Community Financial System by 129.6% during the 3rd quarter. UBS Group AG now owns 276,438 shares of the bank’s stock worth $16,210,000 after purchasing an additional 156,049 shares in the last quarter. Institutional investors own 73.79% of the company’s stock.

Insider Activity

In other news, Director Eric Stickels sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total value of $129,500.00. Following the sale, the director owned 33,342 shares of the company’s stock, valued at approximately $2,158,894.50. This represents a 5.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John F. Whipple sold 4,246 shares of the 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 sale, the director owned 8,506 shares of the company’s stock, valued at $554,336.02. This trade represents a 33.30% decrease in their position. The SEC filing for this sale provides additional information. 1.01% of the stock is currently owned by corporate insiders.

Community Financial System Trading Down 0.0%

Shares of CBU opened at $56.79 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.99 billion, a PE ratio of 14.31 and a beta of 0.80. Community Financial System, Inc. has a 1 year low of $49.44 and a 1 year high of $67.50. The stock has a 50 day simple moving average of $61.58 and a 200-day simple moving average of $59.41.

Community Financial System (NYSE:CBU) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $1.12 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.01). Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. The company had revenue of $215.56 million during the quarter, compared to analyst estimates of $212.85 million. During the same period in the prior year, the firm earned $0.94 EPS. Community Financial System’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Monday, March 16th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, March 16th. Community Financial System’s payout ratio is currently 47.36%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler assumed coverage on Community Financial System in a research note on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 target price for the company. 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. Weiss Ratings lowered shares of Community Financial System from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 23rd. DA Davidson started coverage on shares of Community Financial System in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price objective for the company. Finally, Janney Montgomery Scott downgraded shares of Community Financial System from a “buy” rating to a “neutral” rating in a report on Tuesday, January 13th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $66.67.

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.