Community Financial System, Inc. (NYSE:CBU) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in shares of Community Financial System, Inc. (NYSE:CBU) by 7.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,501 shares of the bank’s stock after selling 534 shares during the period. PNC Financial Services Group Inc.’s holdings in Community Financial System were worth $370,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wells Fargo & Company MN increased its holdings in shares of Community Financial System by 15.6% in the fourth quarter. Wells Fargo & Company MN now owns 55,153 shares of the bank’s stock valued at $3,402,000 after purchasing an additional 7,428 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Community Financial System by 16.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 75,177 shares of the bank’s stock valued at $4,637,000 after purchasing an additional 10,809 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Community Financial System by 2.9% in 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 last quarter. Invesco Ltd. increased its holdings in shares of Community Financial System by 4.6% in the fourth quarter. Invesco Ltd. now owns 188,507 shares of the bank’s stock valued at $11,627,000 after purchasing an additional 8,218 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Community Financial System in the fourth quarter valued at approximately $687,000. 73.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen cut Community Financial System from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods cut their target price on Community Financial System from $69.00 to $67.00 and set a “market perform” rating for the company in a research note on Wednesday, July 23rd.

Community Financial System Stock Down 3.3%

Community Financial System stock opened at $56.40 on Friday. Community Financial System, Inc. has a fifty-two week low of $49.44 and a fifty-two week high of $73.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $2.98 billion, a P/E ratio of 15.37 and a beta of 0.80. The stock has a 50-day simple moving average of $56.32 and a 200-day simple moving average of $57.56.

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

Community Financial System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 12th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, September 12th. This is a positive change from Community Financial System’s previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a yield of 3.3%. Community Financial System’s dividend payout ratio (DPR) is presently 50.14%.

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.