Carnegie Investment Counsel Has $3.47 Million Position in Community Financial System, Inc. $CBU

Carnegie Investment Counsel decreased its stake in Community Financial System, Inc. (NYSE:CBU) by 0.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 60,935 shares of the bank’s stock after selling 328 shares during the period. Carnegie Investment Counsel’s holdings in Community Financial System were worth $3,465,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CBU. Rise Advisors LLC increased its stake in shares of Community Financial System by 48.8% in the first quarter. Rise Advisors LLC now owns 698 shares of the bank’s stock valued at $40,000 after buying an additional 229 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Community Financial System by 841.6% in the second quarter. Farther Finance Advisors LLC now owns 1,403 shares of the bank’s stock valued at $80,000 after buying an additional 1,254 shares during the period. Strs Ohio acquired a new stake in shares of Community Financial System in the first quarter valued at about $102,000. KBC Group NV increased its stake in shares of Community Financial System by 19.8% in the first quarter. KBC Group NV now owns 2,798 shares of the bank’s stock valued at $159,000 after buying an additional 463 shares during the period. Finally, MQS Management LLC acquired a new stake in shares of Community Financial System in the first quarter valued at about $205,000. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Financial System Trading Up 1.4%

Shares of Community Financial System stock opened at $57.39 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 0.75. Community Financial System, Inc. has a 52 week low of $49.44 and a 52 week high of $73.39. The stock has a 50 day moving average price of $58.63 and a two-hundred day moving average price of $56.83. The stock has a market capitalization of $3.03 billion, a PE ratio of 14.79 and a beta of 0.77.

Community Financial System (NYSE:CBU) last announced its quarterly earnings data on Tuesday, October 21st. The bank reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.01. Community Financial System had a return on equity of 11.09% and a net margin of 20.72%.The firm had revenue of $207.90 million during the quarter, compared to analysts’ expectations of $206.85 million. During the same quarter last year, the firm posted $0.88 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities analysts anticipate that Community Financial System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Financial System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Friday, December 12th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, December 12th. Community Financial System’s dividend payout ratio (DPR) is 48.45%.

Insider Buying and Selling

In other Community Financial System news, SVP Jeffrey M. Levy sold 1,440 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $61.38, for a total value of $88,387.20. Following the completion of the sale, the senior vice president owned 6,657 shares of the company’s stock, valued at approximately $408,606.66. This trade represents a 17.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CBU shares. Wall Street Zen raised Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $66.00 target price (down previously from $67.00) on shares of Community Financial System in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Community Financial System in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $67.67.

Community Financial System Company 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.