Swiss National Bank Sells 1,200 Shares of Community Financial System, Inc. $CBU

Swiss National Bank reduced its position in Community Financial System, Inc. (NYSE:CBU) by 1.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 101,900 shares of the bank’s stock after selling 1,200 shares during the period. Swiss National Bank owned 0.19% of Community Financial System worth $5,794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CBU. Wells Fargo & Company MN raised its stake in Community Financial System by 15.6% in the 4th quarter. Wells Fargo & Company MN now owns 55,153 shares of the bank’s stock valued at $3,402,000 after acquiring an additional 7,428 shares during the period. Envestnet Asset Management Inc. grew its holdings in Community Financial System by 16.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 75,177 shares of the bank’s stock valued at $4,637,000 after buying an additional 10,809 shares in the last quarter. Bank of Montreal Can grew its holdings 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 valued at $564,000 after buying an additional 255 shares in the last quarter. Invesco Ltd. grew its holdings in Community Financial System by 4.6% during the 4th quarter. Invesco Ltd. now owns 188,507 shares of the bank’s stock valued at $11,627,000 after buying an additional 8,218 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Community Financial System during the 4th quarter valued at about $687,000. 73.79% of the stock is currently owned by institutional investors.

Community Financial System Stock Up 1.3%

CBU stock opened at $57.13 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $3.02 billion, a PE ratio of 15.57 and a beta of 0.80. Community Financial System, Inc. has a twelve month low of $49.44 and a twelve month high of $73.39. The stock has a 50-day simple moving average of $56.31 and a two-hundred day simple moving average of $57.39.

Community Financial System (NYSE:CBU) last issued its quarterly earnings data 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 business had revenue of $199.30 million for the quarter, compared to analysts’ expectations of $201.93 million. During the same period in the previous year, the firm posted $0.95 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts predict 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 issued a dividend of $0.47 per share. The ex-dividend date of this dividend 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 annualized dividend and a dividend yield of 3.3%. Community Financial System’s payout ratio is presently 50.14%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their target price on Community Financial System from $69.00 to $67.00 and set a “market perform” rating for the company in a report on Wednesday, July 23rd. Wall Street Zen lowered Community Financial System from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd.

About Community Financial System

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.