Cubist Systematic Strategies LLC Acquires Shares of 20,390 Community Financial System, Inc. $CBU

Cubist Systematic Strategies LLC purchased a new position in shares of Community Financial System, Inc. (NYSE:CBU) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 20,390 shares of the bank’s stock, valued at approximately $1,159,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CBU. KBC Group NV raised its stake 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 purchasing an additional 463 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Community Financial System during the 4th quarter worth about $204,000. MQS Management LLC purchased a new stake in shares of Community Financial System during the 1st quarter worth about $205,000. Stone House Investment Management LLC purchased a new stake in shares of Community Financial System during the 1st quarter worth about $205,000. Finally, Xponance Inc. raised its stake in shares of Community Financial System by 4.9% in 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 in the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.

Community Financial System Stock Performance

Shares of NYSE CBU opened at $60.23 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 business’s 50 day moving average is $57.45 and its two-hundred day moving average is $56.77. The company has a market cap of $3.18 billion, a P/E ratio of 16.41 and a beta of 0.79. Community Financial System, Inc. has a 12 month low of $49.44 and a 12 month high of $73.39.

Community Financial System (NYSE:CBU) last announced its quarterly earnings data 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 firm had revenue of $199.30 million for the quarter, compared to analyst estimates of $201.93 million. Community Financial System had a return on equity of 10.71% and a net margin of 19.91%.Community Financial System’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 EPS. On average, equities analysts expect that Community Financial System, Inc. will post 4.18 EPS for the current 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.1%. 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. Community Financial System’s payout ratio is 50.14%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CBU shares. Wall Street Zen downgraded Community Financial System from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods decreased their price objective on shares of 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. 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Activity at Community Financial System

In other news, SVP Jeffrey M. Levy sold 1,440 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $61.38, for a total transaction of $88,387.20. Following the completion of the transaction, the senior vice president directly owned 6,657 shares of the company’s stock, valued at approximately $408,606.66. This trade represents a 17.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.01% of the company’s stock.

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.