Teacher Retirement System of Texas Purchases 1,823 Shares of Community Financial System, Inc. (NYSE:CBU)

Teacher Retirement System of Texas increased its holdings in Community Financial System, Inc. (NYSE:CBU) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,478 shares of the bank’s stock after buying an additional 1,823 shares during the period. Teacher Retirement System of Texas owned 0.05% of Community Financial System worth $1,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CBU. Federated Hermes Inc. increased its holdings in shares of Community Financial System by 12.9% during the fourth quarter. Federated Hermes Inc. now owns 831,387 shares of the bank’s stock worth $51,280,000 after buying an additional 94,850 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Community Financial System by 27.3% in the 4th quarter. Northern Trust Corp now owns 677,841 shares of the bank’s stock worth $41,809,000 after acquiring an additional 145,172 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Community Financial System by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,317 shares of the bank’s stock worth $40,790,000 after acquiring an additional 8,326 shares during the last quarter. Norges Bank acquired a new stake in shares of Community Financial System in the 4th quarter worth about $34,779,000. Finally, Deprince Race & Zollo Inc. purchased a new stake in Community Financial System in the 4th quarter valued at about $32,368,000. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Friday, May 16th.

Community Financial System Price Performance

CBU stock opened at $58.12 on Friday. The firm has a 50 day moving average of $56.90 and a 200-day moving average of $58.77. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.32. Community Financial System, Inc. has a 12 month low of $49.44 and a 12 month high of $73.39. The firm has a market capitalization of $3.07 billion, a P/E ratio of 16.10 and a beta of 0.78.

Community Financial System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Community Financial System had a return on equity of 10.98% and a net margin of 19.89%. The firm had revenue of $196.20 million during the quarter, compared to the consensus estimate of $197.13 million. During the same quarter last year, the company posted $1.18 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts predict that Community Financial System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Financial System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Friday, June 13th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Friday, June 13th. Community Financial System’s dividend payout ratio is presently 50.97%.

Community Financial System Profile

Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and other financial services to retail, commercial, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.