Community Financial System, Inc. $CBU Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC decreased its holdings in shares of Community Financial System, Inc. (NYSE:CBU) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419,010 shares of the bank’s stock after selling 11,404 shares during the period. Segall Bryant & Hamill LLC’s holdings in Community Financial System were worth $23,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its position in Community Financial System by 0.4% during the first quarter. Federated Hermes Inc. now owns 834,490 shares of the bank’s stock worth $47,449,000 after acquiring an additional 3,103 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Community Financial System by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock valued at $31,308,000 after purchasing an additional 40,384 shares during the period. Invesco Ltd. increased its stake in shares of Community Financial System by 80.2% during the first quarter. Invesco Ltd. now owns 339,696 shares of the bank’s stock worth $19,315,000 after purchasing an additional 151,189 shares in the last quarter. Waldron Private Wealth LLC raised its position in shares of Community Financial System by 1.6% during the 2nd quarter. Waldron Private Wealth LLC now owns 216,121 shares of the bank’s stock worth $12,390,000 after purchasing an additional 3,301 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in Community Financial System by 27.6% in the 1st quarter. Public Sector Pension Investment Board now owns 167,039 shares of the bank’s stock valued at $9,498,000 after buying an additional 36,132 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Financial System Trading Up 4.0%

CBU opened at $57.07 on Friday. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 14.71 and a beta of 0.79. The company’s 50 day simple moving average is $57.30 and its two-hundred day simple moving average is $57.15. Community Financial System, Inc. has a 1-year low of $49.44 and a 1-year high of $73.39. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.75 and a quick ratio of 0.76.

Community Financial System (NYSE:CBU) last posted its quarterly earnings results on Tuesday, October 21st. The bank reported $1.09 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $206.82 million during the quarter, compared to analysts’ expectations of $206.85 million. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. Analysts expect that Community Financial System, Inc. will post 4.18 EPS for the current fiscal year.

Community Financial System Announces Dividend

The business 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 dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, December 12th. Community Financial System’s payout ratio is currently 48.45%.

Insider Buying and Selling at Community Financial System

In other news, SVP Jeffrey M. Levy sold 1,440 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $61.38, for a total transaction of $88,387.20. Following the transaction, the senior vice president owned 6,657 shares of the company’s stock, valued at approximately $408,606.66. The trade was a 17.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $66.00 price objective (down from $67.00) on shares of Community Financial System in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Community Financial System in a research note on Wednesday. Finally, Wall Street Zen raised Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.00.

About Community Financial System

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.