Farther Finance Advisors LLC Buys 1,254 Shares of Community Financial System, Inc. $CBU

Farther Finance Advisors LLC increased its position in Community Financial System, Inc. (NYSE:CBU) by 841.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,403 shares of the bank’s stock after purchasing an additional 1,254 shares during the quarter. Farther Finance Advisors LLC’s holdings in Community Financial System were worth $80,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Xponance Inc. increased 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 worth $225,000 after acquiring an additional 186 shares in the last quarter. Rise Advisors LLC increased its stake in shares of Community Financial System by 48.8% in the 1st quarter. Rise Advisors LLC now owns 698 shares of the bank’s stock worth $40,000 after acquiring an additional 229 shares in the last quarter. KBC Group NV increased its stake in shares of Community Financial System by 19.8% in 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 in the last quarter. Park Avenue Securities LLC grew its stake in shares of Community Financial System by 18.0% in the 1st quarter. Park Avenue Securities LLC now owns 4,320 shares of the bank’s stock worth $246,000 after buying an additional 660 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Community Financial System by 12.5% in the 1st quarter. QRG Capital Management Inc. now owns 6,563 shares of the bank’s stock worth $373,000 after buying an additional 729 shares during the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CBU. Wall Street Zen cut shares of Community Financial System from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Community Financial System in a report on Saturday, September 27th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Community Financial System has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Community Financial System Price Performance

Shares of NYSE:CBU opened at $58.83 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s 50 day simple moving average is $57.98 and its two-hundred day simple moving average is $56.73. The company has a market capitalization of $3.11 billion, a P/E ratio of 16.03 and a beta of 0.77. 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 posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). Community Financial System had a net margin of 19.91% and a return on equity of 10.71%. The business had revenue of $199.30 million for the quarter, compared to the consensus estimate of $201.93 million. During the same period in the prior year, the business earned $0.95 earnings per share. Community Financial System’s revenue was up 8.4% compared to the same quarter last year. Research analysts expect that Community Financial System, Inc. will post 4.18 EPS for the current fiscal year.

Community Financial System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.47 per share. This is an increase from Community Financial System’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.88 dividend on an annualized basis and a yield of 3.2%. Community Financial System’s payout ratio is 51.23%.

Insider Activity

In other news, SVP Jeffrey M. Levy sold 1,440 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president directly owned 6,657 shares of the company’s stock, valued at $408,606.66. This represents a 17.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.01% of the stock is owned by company insiders.

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.