Public Sector Pension Investment Board Has $12.09 Million Stock Holdings in Community Financial System, Inc. $CBU

Public Sector Pension Investment Board increased its holdings in shares of Community Financial System, Inc. (NYSE:CBU) by 14.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,169 shares of the bank’s stock after buying an additional 26,002 shares during the quarter. Public Sector Pension Investment Board owned 0.39% of Community Financial System worth $12,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Community Financial System during the 2nd quarter worth about $34,546,000. Basswood Capital Management L.L.C. purchased a new stake in shares of Community Financial System in the second quarter worth approximately $15,185,000. FJ Capital Management LLC boosted its holdings in shares of Community Financial System by 157.0% during the second quarter. FJ Capital Management LLC now owns 270,197 shares of the bank’s stock worth $15,366,000 after purchasing an additional 165,069 shares during the period. Jane Street Group LLC boosted its holdings in shares of Community Financial System by 523.4% during the first quarter. Jane Street Group LLC now owns 145,719 shares of the bank’s stock worth $8,286,000 after purchasing an additional 122,343 shares during the period. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Community Financial System by 25.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 354,906 shares of the bank’s stock valued at $20,184,000 after acquiring an additional 71,631 shares in the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Community Financial System

In related news, Director John F. Whipple sold 4,246 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $65.17, for a total transaction of $276,711.82. Following the completion of the transaction, the director directly owned 8,506 shares in the company, valued at $554,336.02. This represents a 33.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eric Stickels sold 2,000 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total value of $129,500.00. Following the completion of the transaction, the director owned 33,342 shares of the company’s stock, valued at $2,158,894.50. The trade was a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CBU shares. Janney Montgomery Scott lowered Community Financial System from a “buy” rating to a “neutral” rating in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Community Financial System in a research note on Monday, December 29th. Piper Sandler started coverage on Community Financial System in a report on Wednesday, December 3rd. They set a “neutral” rating and a $62.00 price target for the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $66.00 price target (down previously from $67.00) on shares of Community Financial System in a research note on Thursday, October 23rd. Finally, Wall Street Zen lowered shares of Community Financial System from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $64.00.

Community Financial System Trading Up 0.3%

Shares of CBU stock opened at $66.29 on Monday. Community Financial System, Inc. has a 12 month low of $49.44 and a 12 month high of $67.50. The company has a market cap of $3.49 billion, a PE ratio of 16.70 and a beta of 0.81. The company has a quick ratio of 0.76, a current ratio of 0.75 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $61.51 and its two-hundred day moving average is $58.91.

Community Financial System (NYSE:CBU) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.01). The firm had revenue of $215.56 million for the quarter, compared to the consensus estimate of $212.85 million. Community Financial System had a return on equity of 11.09% and a net margin of 20.82%.Community Financial System’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 earnings per share. Equities analysts predict that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, March 16th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.8%. Community Financial System’s payout ratio is 47.36%.

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.