Community Financial System, Inc. $CBU Shares Bought by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. lifted its stake in Community Financial System, Inc. (NYSE:CBU) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 530,874 shares of the bank’s stock after buying an additional 53,191 shares during the period. Deprince Race & Zollo Inc.’s holdings in Community Financial System were worth $31,136,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Norges Bank acquired a new position in Community Financial System during the 4th quarter worth approximately $38,993,000. Bank of America Corp DE raised its stake in shares of Community Financial System by 132.9% during the third quarter. Bank of America Corp DE now owns 636,257 shares of the bank’s stock valued at $37,310,000 after purchasing an additional 363,012 shares during the period. Riggs Asset Managment Co. Inc. lifted its position in shares of 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 purchasing an additional 353,663 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new position in shares of Community Financial System during the second quarter worth $15,185,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Community Financial System by 10,989.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 200,049 shares of the bank’s stock worth $11,491,000 after purchasing an additional 198,245 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

Insiders Place Their Bets

In other Community Financial System news, Director Mark J. Bolus sold 12,191 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $67.00, for a total transaction of $816,797.00. Following the completion of the transaction, the director directly owned 94,060 shares of the company’s stock, valued at $6,302,020. This trade represents a 11.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric Stickels sold 2,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $63.98, for a total transaction of $127,960.00. Following the completion of the sale, the director directly owned 31,592 shares of the company’s stock, valued at $2,021,256.16. The trade was a 5.95% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.15% of the company’s stock.

Analyst Ratings Changes

CBU has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings lowered shares of Community Financial System from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Piper Sandler upped their price objective on shares of Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $75.00 target price on shares of Community Financial System in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Community Financial System presently has an average rating of “Moderate Buy” and an average price target of $69.75.

Community Financial System Stock Performance

Shares of CBU opened at $68.45 on Thursday. The business’s 50 day moving average is $63.76 and its two-hundred day moving average is $61.97. Community Financial System, Inc. has a 52-week low of $51.12 and a 52-week high of $68.77. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 16.62 and a beta of 0.77. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.22.

Community Financial System (NYSE:CBU) last released its earnings results on Wednesday, April 29th. The bank reported $1.15 EPS for the quarter, beating the consensus estimate 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 company had revenue of $213.69 million during the quarter, compared to analysts’ expectations of $216.36 million. During the same period in the prior year, the business posted $0.98 EPS. The business’s revenue was up 8.7% on a year-over-year basis. Analysts forecast that Community Financial System, Inc. will post 4.74 EPS for the current fiscal 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 paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, June 15th. Community Financial System’s dividend payout ratio is 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.