Community Financial System, Inc. $CBU Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in Community Financial System, Inc. (NYSE:CBU) by 17.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,362 shares of the bank’s stock after buying an additional 16,581 shares during the quarter. Envestnet Asset Management Inc. owned 0.22% of Community Financial System worth $6,706,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CBU. Arizona State Retirement System boosted its position in shares of Community Financial System by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 15,639 shares of the bank’s stock worth $917,000 after purchasing an additional 219 shares in the last quarter. AE Wealth Management LLC boosted its holdings in Community Financial System by 6.6% during the third quarter. AE Wealth Management LLC now owns 4,254 shares of the bank’s stock worth $249,000 after buying an additional 263 shares in the last quarter. Truist Financial Corp grew its position in Community Financial System by 14.9% during the third quarter. Truist Financial Corp now owns 11,990 shares of the bank’s stock worth $703,000 after buying an additional 1,558 shares during the period. Covestor Ltd increased its holdings in Community Financial System by 110.7% in the third quarter. Covestor Ltd now owns 1,479 shares of the bank’s stock valued at $87,000 after buying an additional 777 shares in the last quarter. Finally, Anchor Capital Advisors LLC lifted its position in shares of Community Financial System by 7.8% during the 3rd quarter. Anchor Capital Advisors LLC now owns 35,616 shares of the bank’s stock valued at $2,089,000 after acquiring an additional 2,592 shares during the period. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Insider Activity at Community Financial System

In other Community Financial System news, Director Eric Stickels sold 2,000 shares of Community Financial System stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total value of $129,500.00. Following the completion of the sale, the director directly owned 33,342 shares of the company’s stock, valued at approximately $2,158,894.50. The trade was a 5.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John F. Whipple sold 4,246 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $65.17, for a total value of $276,711.82. Following the transaction, the director directly owned 8,506 shares in the company, valued at approximately $554,336.02. This represents a 33.30% decrease in their position. The SEC filing for this sale provides additional information. 1.01% of the stock is currently owned by insiders.

Community Financial System Stock Up 0.5%

CBU opened at $65.02 on Friday. The firm has a market cap of $3.42 billion, a P/E ratio of 16.38 and a beta of 0.81. The business’s fifty day simple moving average is $62.04 and its 200 day simple moving average is $59.27. Community Financial System, Inc. has a 52 week low of $49.44 and a 52 week high of $67.50. The company has a quick ratio of 0.76, a current ratio of 0.75 and a debt-to-equity ratio of 0.23.

Community Financial System (NYSE:CBU) last released its earnings results on Tuesday, January 27th. The bank reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The firm had revenue of $215.56 million during the quarter, compared to analysts’ expectations of $212.85 million. Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. Community Financial System’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. As a group, equities research analysts anticipate that Community Financial System, Inc. will post 4.18 EPS for the current fiscal year.

Community Financial System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Monday, March 16th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, March 16th. This represents a $1.88 dividend on an annualized basis and a yield of 2.9%. Community Financial System’s dividend payout ratio (DPR) is 47.36%.

Analyst Ratings Changes

A number of research firms recently weighed in on CBU. Piper Sandler assumed coverage on Community Financial System in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 price target on the stock. Janney Montgomery Scott lowered Community Financial System from a “buy” rating to a “neutral” rating in a report on Tuesday, January 13th. Wall Street Zen downgraded Community Financial System from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Community Financial System in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $64.00.

Community Financial System Company 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.