Teacher Retirement System of Texas Sells 2,187 Shares of Community Financial System, Inc. $CBU

Teacher Retirement System of Texas lessened its position in Community Financial System, Inc. (NYSE:CBU) by 8.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,291 shares of the bank’s stock after selling 2,187 shares during the period. Teacher Retirement System of Texas’ holdings in Community Financial System were worth $1,381,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in Community Financial System by 0.4% in the 1st quarter. Federated Hermes Inc. now owns 834,490 shares of the bank’s stock worth $47,449,000 after acquiring an additional 3,103 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Community Financial System by 7.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock worth $31,308,000 after acquiring an additional 40,384 shares during the last quarter. Invesco Ltd. grew its holdings in Community Financial System by 80.2% in the 1st quarter. Invesco Ltd. now owns 339,696 shares of the bank’s stock worth $19,315,000 after acquiring an additional 151,189 shares during the last quarter. Principal Financial Group Inc. grew its holdings 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 worth $14,911,000 after acquiring an additional 7,376 shares during the last quarter. Finally, Waldron Private Wealth LLC boosted its stake in shares of Community Financial System by 1.6% during the 2nd quarter. Waldron Private Wealth LLC now owns 216,121 shares of the bank’s stock valued at $12,390,000 after purchasing an additional 3,301 shares in the last quarter. Institutional investors own 73.79% of the company’s stock.

Insider Transactions at Community Financial System

In related news, SVP Jeffrey M. Levy sold 1,440 shares of Community Financial System 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 $408,606.66. This trade represents a 17.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Community Financial System in a research note on Thursday, October 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $66.00 target price (down previously from $67.00) on shares of Community Financial System in a research note on Thursday, October 23rd. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.00.

Community Financial System Trading Up 2.0%

Shares of NYSE CBU opened at $56.78 on Thursday. Community Financial System, Inc. has a 1 year low of $49.44 and a 1 year high of $73.39. The stock has a market cap of $3.00 billion, a P/E ratio of 14.64 and a beta of 0.79. The firm has a 50-day moving average of $58.20 and a 200 day moving average of $57.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.75 and a quick ratio of 0.76.

Community Financial System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, October 21st. The bank reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.01. Community Financial System had a net margin of 20.72% and a return on equity of 11.09%. The company had revenue of $207.90 million during the quarter, compared to analysts’ expectations of $206.85 million. During the same period last year, the company posted $0.88 EPS. Community Financial System’s revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts expect that Community Financial System, Inc. will post 4.18 EPS for the current fiscal year.

Community Financial System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Friday, December 12th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, December 12th. Community Financial System’s dividend payout ratio (DPR) is 48.45%.

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.