Carnegie Investment Counsel Decreases Stake in Community Financial System, Inc. $CBU

Carnegie Investment Counsel lowered its stake in Community Financial System, Inc. (NYSE:CBU) by 56.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 26,470 shares of the bank’s stock after selling 34,465 shares during the quarter. Carnegie Investment Counsel owned 0.05% of Community Financial System worth $1,552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rise Advisors LLC increased its stake in shares of Community Financial System by 48.8% in the first quarter. Rise Advisors LLC now owns 698 shares of the bank’s stock worth $40,000 after buying an additional 229 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Community Financial System by 177.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock worth $44,000 after acquiring an additional 499 shares during the last quarter. CWM LLC increased its position in shares of Community Financial System by 56.1% in the third quarter. CWM LLC now owns 899 shares of the bank’s stock valued at $53,000 after acquiring an additional 323 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Community Financial System by 841.6% during the second quarter. Farther Finance Advisors LLC now owns 1,403 shares of the bank’s stock valued at $80,000 after acquiring an additional 1,254 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Community Financial System during the first quarter valued at about $102,000. Institutional investors own 73.79% of the company’s stock.

Analyst Upgrades and Downgrades

CBU has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $66.00 target price (down from $67.00) on shares of Community Financial System in a research note on Thursday, October 23rd. Piper Sandler started coverage on Community Financial System in a research report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 price objective on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Community Financial System in a research note on Monday, December 22nd. Finally, Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a report on Saturday. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Community Financial System currently has an average rating of “Hold” and an average target price of $64.00.

Community Financial System Stock Up 0.1%

CBU stock opened at $59.11 on Monday. Community Financial System, Inc. has a fifty-two week low of $49.44 and a fifty-two week high of $68.11. The business’s 50 day moving average price is $57.58 and its two-hundred day moving average price is $57.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 15.24 and a beta of 0.79.

Community Financial System (NYSE:CBU) last released its earnings results on Tuesday, October 21st. The bank reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.06. The company had revenue of $206.82 million during the quarter, compared to analysts’ expectations of $206.85 million. Community Financial System had a return on equity of 11.09% and a net margin of 20.72%.The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 EPS. As a group, analysts forecast that Community Financial System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Financial System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Friday, December 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 3.2%. The ex-dividend date is Friday, December 12th. Community Financial System’s payout ratio is 48.45%.

Community Financial System Profile

Community Financial System (NYSE: CBU) is the bank holding company for Community Bank, National Association, a full-service commercial bank headquartered in DeWitt, New York. Through its principal subsidiary, the company offers a range of banking and financial services designed to meet the needs of both consumer and business clients. Its organizational structure centers on community-based banking operations supported by centralized technology, risk management and administrative functions.

The company’s product offerings include deposit accounts, residential and commercial mortgage loans, commercial and consumer lending, treasury and cash management services, and electronic banking.