Community Financial System, Inc. $CBU Position Increased by Rafferty Asset Management LLC

Rafferty Asset Management LLC raised its position in Community Financial System, Inc. (NYSE:CBU) by 27.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,899 shares of the bank’s stock after purchasing an additional 9,943 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.09% of Community Financial System worth $2,692,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of Community Financial System by 177.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after buying an additional 499 shares in the last quarter. CWM LLC lifted its stake in Community Financial System by 56.1% in the third quarter. CWM LLC now owns 899 shares of the bank’s stock valued at $53,000 after acquiring an additional 323 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Community Financial System by 14.9% in the third quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock worth $86,000 after acquiring an additional 189 shares in the last quarter. Covestor Ltd increased its stake in shares of Community Financial System by 110.7% during the 3rd quarter. Covestor Ltd now owns 1,479 shares of the bank’s stock worth $87,000 after purchasing an additional 777 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Community Financial System during the 1st quarter valued at $102,000. 73.79% of the stock is owned by institutional investors and hedge funds.

Community Financial System Trading Up 0.0%

Shares of CBU stock opened at $61.14 on Thursday. The firm has a market capitalization of $3.22 billion, a P/E ratio of 15.40 and a beta of 0.80. Community Financial System, Inc. has a 1 year low of $49.44 and a 1 year high of $67.50. The firm’s fifty day simple moving average is $62.38 and its 200 day simple moving average is $59.64. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23.

Community Financial System (NYSE:CBU) last posted its quarterly earnings results 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). Community Financial System had a return on equity of 11.09% and a net margin of 20.82%.The company had revenue of $215.56 million during the quarter, compared to analyst estimates of $212.85 million. During the same quarter in the prior year, the business earned $0.94 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Monday, March 16th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, March 16th. Community Financial System’s payout ratio is currently 47.36%.

Insider Buying and Selling at Community Financial System

In related news, EVP Maureen A. Gillan-Myer sold 3,450 shares of the company’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $58.85, for a total value of $203,032.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric Stickels sold 2,000 shares of Community Financial System stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $64.75, for a total transaction of $129,500.00. Following the sale, the director owned 33,342 shares in the company, valued at $2,158,894.50. This represents a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,696 shares of company stock valued at $609,244 in the last quarter. Corporate insiders own 1.01% of the company’s stock.

Analysts Set New Price Targets

CBU has been the subject of a number of recent research reports. Piper Sandler initiated coverage on shares of Community Financial System in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 price objective for the company. DA Davidson initiated coverage on Community Financial System in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Community Financial System in a report on Monday, December 29th. Wall Street Zen downgraded Community Financial System from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Finally, Janney Montgomery Scott cut Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, Community Financial System currently has a consensus rating of “Hold” and a consensus price target of $66.67.

Community Financial System 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.