Bank of New York Mellon Corp Trims Position in Community Financial System, Inc. (NYSE:CBU)

Bank of New York Mellon Corp cut its holdings in shares of Community Financial System, Inc. (NYSE:CBU) by 4.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 540,816 shares of the bank’s stock after selling 25,104 shares during the quarter. Bank of New York Mellon Corp owned 1.02% of Community Financial System worth $30,751,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. US Bancorp DE raised its position in Community Financial System by 17.1% during the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank’s stock worth $67,000 after buying an additional 158 shares during the last quarter. Fulton Bank N.A. raised its position in Community Financial System by 2.6% during the 1st quarter. Fulton Bank N.A. now owns 9,755 shares of the bank’s stock worth $555,000 after buying an additional 249 shares during the last quarter. Bank of Montreal Can raised its position in Community Financial System by 2.9% during the 4th quarter. Bank of Montreal Can now owns 9,140 shares of the bank’s stock worth $564,000 after buying an additional 255 shares during the last quarter. Corient Private Wealth LLC raised its position in Community Financial System by 4.0% during the 4th quarter. Corient Private Wealth LLC now owns 8,526 shares of the bank’s stock worth $526,000 after buying an additional 327 shares during the last quarter. Finally, KBC Group NV raised its position in Community Financial System by 19.8% during the 1st quarter. KBC Group NV now owns 2,798 shares of the bank’s stock worth $159,000 after buying an additional 463 shares during the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Community Financial System Price Performance

NYSE:CBU opened at $56.44 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 15.63 and a beta of 0.78. The company has a 50 day moving average price of $56.95 and a 200-day moving average price of $58.67. Community Financial System, Inc. has a 1-year low of $49.44 and a 1-year high of $73.39.

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

Community Financial System Company 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.