Assetmark Inc. Trims Position in Community Financial System, Inc. (NYSE:CBU)

Assetmark Inc. reduced its position in shares of Community Financial System, Inc. (NYSE:CBU) by 28.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,484 shares of the bank’s stock after selling 578 shares during the quarter. Assetmark Inc.’s holdings in Community Financial System were worth $84,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Xponance Inc. grew its position in shares of Community Financial System by 4.9% during the 1st quarter. Xponance Inc. now owns 3,950 shares of the bank’s stock valued at $225,000 after acquiring an additional 186 shares during the period. Fulton Bank N.A. lifted its position in Community Financial System by 2.6% during the first quarter. Fulton Bank N.A. now owns 9,755 shares of the bank’s stock valued at $555,000 after purchasing an additional 249 shares in the last quarter. Bank of Montreal Can grew its holdings in Community Financial System by 2.9% during the fourth quarter. Bank of Montreal Can now owns 9,140 shares of the bank’s stock valued at $564,000 after purchasing an additional 255 shares during the period. KBC Group NV increased its position in Community Financial System by 19.8% in the first quarter. KBC Group NV now owns 2,798 shares of the bank’s stock worth $159,000 after buying an additional 463 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its position in Community Financial System by 11.9% in the fourth quarter. Benjamin Edwards Inc. now owns 5,120 shares of the bank’s stock worth $316,000 after buying an additional 544 shares in the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Analyst Ratings Changes

CBU has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their price objective on Community Financial System from $69.00 to $67.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen cut shares of Community Financial System from a “hold” rating to a “sell” rating in a research note on Saturday.

Community Financial System Price Performance

NYSE:CBU opened at $52.34 on Tuesday. The business’s 50-day simple moving average is $56.37 and its two-hundred day simple moving average is $58.04. Community Financial System, Inc. has a 52 week low of $49.44 and a 52 week high of $73.39. The stock has a market cap of $2.77 billion, a PE ratio of 14.26 and a beta of 0.80. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.38.

Community Financial System (NYSE:CBU) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The business had revenue of $199.30 million during the quarter, compared to the consensus estimate of $201.93 million. Community Financial System had a return on equity of 10.71% and a net margin of 19.91%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $0.95 EPS. As a group, analysts forecast that Community Financial System, Inc. will post 4.18 EPS for the current fiscal year.

Community Financial System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 12th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.6%. This is a positive change from Community Financial System’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, September 12th. Community Financial System’s dividend payout ratio is currently 51.23%.

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.