SG Americas Securities LLC Has $7.11 Million Stake in Community Financial System, Inc. $CBU

SG Americas Securities LLC lowered its stake in shares of Community Financial System, Inc. (NYSE:CBU) by 28.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,256 shares of the bank’s stock after selling 47,636 shares during the period. SG Americas Securities LLC’s holdings in Community Financial System were worth $7,112,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Community Financial System during the fourth quarter worth $38,993,000. Bank of America Corp DE increased its position in shares of 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 buying an additional 363,012 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Community Financial System by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock worth $31,308,000 after buying an additional 40,384 shares during the period. Bank of New York Mellon Corp raised its stake in Community Financial System by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 541,428 shares of the bank’s stock worth $31,100,000 after buying an additional 16,990 shares during the period. Finally, Riggs Asset Managment Co. Inc. lifted its holdings in Community Financial System by 740.1% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank’s stock worth $23,059,000 after acquiring an additional 353,663 shares in the last quarter. Institutional investors own 73.79% of the company’s stock.

Insider Buying and Selling at Community Financial System

In other news, Director Eric Stickels sold 2,000 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $63.98, for a total value of $127,960.00. Following the transaction, the director directly owned 31,592 shares of the company’s stock, valued at $2,021,256.16. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.15% of the stock is owned by insiders.

Analysts Set New Price Targets

CBU has been the subject of several research analyst reports. Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Piper Sandler upped their target price on Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Weiss Ratings cut shares of Community Financial System from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $75.00 target price on shares of Community Financial System in a report on Thursday, April 30th. One 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.75.

Community Financial System Trading Down 0.4%

Community Financial System stock opened at $67.46 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77. Community Financial System, Inc. has a 52 week low of $51.12 and a 52 week high of $68.58. The stock has a 50-day simple moving average of $63.48 and a 200 day simple moving average of $61.80. The stock has a market capitalization of $3.55 billion, a P/E ratio of 16.37 and a beta of 0.78.

Community Financial System (NYSE:CBU) last posted its earnings results on Wednesday, April 29th. The bank reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. Community Financial System had a return on equity of 11.24% and a net margin of 21.26%.The business had revenue of $213.69 million for the quarter, compared to analyst estimates of $216.36 million. During the same period in the previous year, the firm earned $0.98 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Community Financial System, Inc. will post 4.74 earnings per share for the current year.

Community Financial System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 15th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, June 15th. Community Financial System’s payout ratio is currently 45.63%.

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.