Deutsche Bank AG Has $2.40 Million Position in Community Financial System, Inc. $CBU

Deutsche Bank AG cut its holdings in shares of Community Financial System, Inc. (NYSE:CBU) by 33.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,251 shares of the bank’s stock after selling 20,776 shares during the quarter. Deutsche Bank AG owned about 0.08% of Community Financial System worth $2,402,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Aquatic Capital Management LLC acquired a new position in shares of Community Financial System during the 4th quarter worth approximately $125,000. KBC Group NV increased its holdings in shares of 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 acquiring an additional 463 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Community Financial System in the 4th quarter valued at $204,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Community Financial System in the 4th quarter valued at $205,000. Finally, MQS Management LLC acquired a new position in Community Financial System in the 1st quarter valued at $205,000. 73.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CBU shares. Keefe, Bruyette & Woods decreased their price objective on Community Financial System from $69.00 to $67.00 and set a “market perform” rating on the stock 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. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Community Financial System Trading Down 0.1%

Shares of CBU stock opened at $57.0340 on Thursday. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 15.54 and a beta of 0.80. The stock has a 50-day moving average of $56.29 and a 200-day moving average of $57.39. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. 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 issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.06). The company had revenue of $199.30 million during the quarter, compared to analyst estimates of $201.93 million. Community Financial System had a net margin of 19.91% and a return on equity of 10.71%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. On average, equities research analysts forecast that Community Financial System, Inc. will post 4.18 earnings per share for the current year.

Community Financial System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 12th will be paid a dividend of $0.47 per share. This is an increase from Community Financial System’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, September 12th. Community Financial System’s payout ratio is 51.23%.

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.