Community Financial System, Inc. $CBU Stock Position Lowered by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its stake in shares of Community Financial System, Inc. (NYSE:CBU) by 72.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,809 shares of the bank’s stock after selling 9,996 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Community Financial System were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CBU. Deutsche Bank AG purchased a new position in Community Financial System in the 2nd quarter valued at $3,796,000. Corient Private Wealth LP acquired a new position in Community Financial System in the 2nd quarter valued at $1,408,000. The Manufacturers Life Insurance Company purchased a new position in Community Financial System during the 2nd quarter worth $1,777,000. BlackRock Inc. purchased a new position in Community Financial System during the 2nd quarter worth $507,210,000. Finally, Bank of America Corp DE purchased a new position in Community Financial System during the 2nd quarter worth $16,576,000. 73.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. DA Davidson reduced their target price on shares of Community Financial System from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Keefe, Bruyette & Woods dropped their price target on shares of Community Financial System from $70.00 to $68.00 and set a “market perform” rating on the stock in a research note on Thursday, July 30th. Piper Sandler cut their price target on shares of Community Financial System from $71.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. Wall Street Zen upgraded shares of Community Financial System from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Community Financial System in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.25.

Insider Buying and Selling at Community Financial System

In related news, Director Brenda M. Hall purchased 476 shares of the stock in a transaction dated Monday, August 24th. The shares were acquired at an average cost of $63.59 per share, with a total value of $30,268.84. Following the purchase, the director directly owned 515 shares in the company, valued at $32,748.85. This trade represents a 1,220.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.15% of the stock is currently owned by company insiders.

Community Financial System Stock Down 1.9%

Community Financial System stock opened at $62.16 on Friday. The stock’s 50 day moving average price is $61.55 and its 200 day moving average price is $62.86. Community Financial System, Inc. has a 1-year low of $53.46 and a 1-year high of $71.11. The company has a market cap of $3.27 billion, a PE ratio of 13.99 and a beta of 0.76. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.77 and a quick ratio of 0.77.

Community Financial System (NYSE:CBU) last released its quarterly earnings data on Tuesday, October 27th. The bank reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.08. The firm had revenue of $230.21 million during the quarter, compared to analysts’ expectations of $227.15 million. Community Financial System had a return on equity of 11.78% and a net margin of 22.05%. Community Financial System’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 earnings per share. On average, sell-side analysts predict that Community Financial System, Inc. will post 4.60 EPS for the current fiscal year.

Community Financial System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, December 15th. Community Financial System’s payout ratio is presently 45.48%.

Community Financial System Profile

Community Financial System, Inc (NYSE: CBU) is a diversified financial services company headquartered in DeWitt, New York. Formerly known as Community Bank System, Inc, the company traces its banking history to 1866 and operates through Community Bank, N.A., along with other financial services businesses.

Its banking operations provide consumer and commercial deposit accounts, residential and commercial lending, agricultural financing, municipal banking, cash management, and other financial products.