Community Financial System, Inc. $CBU Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its position in shares of Community Financial System, Inc. (NYSE:CBU) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,290 shares of the bank’s stock after selling 1,494 shares during the quarter. Voya Investment Management LLC’s holdings in Community Financial System were worth $813,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Community Financial System by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 262,245 shares of the bank’s stock valued at $14,911,000 after acquiring an additional 7,376 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Community Financial System by 7.4% in the first quarter. Teacher Retirement System of Texas now owns 26,478 shares of the bank’s stock worth $1,506,000 after acquiring an additional 1,823 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Community Financial System in the first quarter valued at approximately $622,000. Envestnet Asset Management Inc. raised its holdings in Community Financial System by 11.7% in the first quarter. Envestnet Asset Management Inc. now owns 83,987 shares of the bank’s stock valued at $4,775,000 after buying an additional 8,810 shares during the period. Finally, KBC Group NV raised its holdings in Community Financial System by 19.8% in the first quarter. KBC Group NV now owns 2,798 shares of the bank’s stock valued at $159,000 after buying an additional 463 shares during the period. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Insider Activity

In other Community Financial System news, SVP Jeffrey M. Levy sold 1,440 shares of Community Financial System stock in a transaction on Wednesday, August 27th. The stock was 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen lowered shares of 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Community Financial System Trading Down 0.5%

Shares of NYSE CBU opened at $59.98 on Thursday. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 16.34 and a beta of 0.79. The business has a 50 day simple moving average of $57.64 and a 200 day simple moving average of $56.65. Community Financial System, Inc. has a 52 week low of $49.44 and a 52 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.

Community Financial System (NYSE:CBU) last announced its earnings results on Tuesday, July 22nd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $201.93 million. During the same period in the previous year, the company earned $0.95 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts predict that Community Financial System, Inc. will post 4.18 earnings per share 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. The ex-dividend date is Friday, September 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.1%. This is a positive change from Community Financial System’s previous quarterly dividend of $0.46. 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.