18,874 Shares in Community Financial System, Inc. $CBU Purchased by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC purchased a new position in shares of Community Financial System, Inc. (NYSE:CBU) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,874 shares of the bank’s stock, valued at approximately $1,267,000.

Several other institutional investors also recently bought and sold shares of the business. Benjamin Edwards Inc. grew its holdings in Community Financial System by 5.9% in the second quarter. Benjamin Edwards Inc. now owns 10,321 shares of the bank’s stock valued at $693,000 after purchasing an additional 578 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Community Financial System during the 2nd quarter worth approximately $44,000. Corient Private Wealth LP acquired a new position in shares of Community Financial System during the 2nd quarter worth approximately $1,408,000. Bank of America Corp DE purchased a new position in shares of Community Financial System during the 2nd quarter valued at approximately $16,576,000. Finally, Basswood Capital Management L.L.C. acquired a new stake in Community Financial System in the 2nd quarter valued at $21,547,000. 73.79% of the stock is owned by institutional investors and hedge funds.

Community Financial System Stock Performance

NYSE CBU opened at $61.86 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.77 and a quick ratio of 0.77. The stock’s 50 day simple moving average is $65.86 and its 200-day simple moving average is $63.28. The company has a market cap of $3.26 billion, a PE ratio of 14.35 and a beta of 0.77. Community Financial System, Inc. has a 1-year low of $53.46 and a 1-year high of $71.11.

Community Financial System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $1.16 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.02). Community Financial System had a return on equity of 11.47% and a net margin of 21.79%.The firm had revenue of $218.45 million for the quarter, compared to analysts’ expectations of $221.77 million. During the same quarter in the previous year, the firm posted $1.04 earnings per share. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Community Financial System, Inc. will post 4.58 EPS for the current fiscal year.

Community Financial System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.49 per share. This is a boost from Community Financial System’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.96 annualized dividend and a yield of 3.2%. Community Financial System’s dividend payout ratio is presently 43.62%.

Insider Transactions at Community Financial System

In other Community Financial System news, Director Brenda M. Hall bought 476 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of $63.59 per share, with a total value of $30,268.84. Following the completion of the acquisition, the director directly owned 515 shares of the company’s stock, valued at $32,748.85. This represents a 1,220.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $127,960.00. Following the completion of the sale, the director owned 31,592 shares of the company’s stock, valued at $2,021,256.16. This trade represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CBU shares. Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 2nd. Piper Sandler increased their price objective on shares of Community Financial System from $66.00 to $71.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods dropped their target price on shares of Community Financial System from $70.00 to $68.00 and set a “market perform” rating on the stock in a research report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Community Financial System has a consensus rating of “Moderate Buy” and an average target price of $71.50.

About Community Financial System

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.