SG Americas Securities LLC Has $9.70 Million Position in Community Financial System, Inc. $CBU

SG Americas Securities LLC raised its stake in Community Financial System, Inc. (NYSE:CBU) by 2,430.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 168,892 shares of the bank’s stock after buying an additional 162,218 shares during the quarter. SG Americas Securities LLC owned 0.32% of Community Financial System worth $9,701,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Community Financial System by 177.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after buying an additional 499 shares during the period. CWM LLC increased its stake in shares of Community Financial System by 56.1% in the third quarter. CWM LLC now owns 899 shares of the bank’s stock worth $53,000 after acquiring an additional 323 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Community Financial System by 14.9% in the third quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock worth $86,000 after acquiring an additional 189 shares during the last quarter. Covestor Ltd raised its holdings in shares of Community Financial System by 110.7% during the third quarter. Covestor Ltd now owns 1,479 shares of the bank’s stock worth $87,000 after acquiring an additional 777 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Community Financial System during the first quarter valued at $102,000. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Janney Montgomery Scott downgraded Community Financial System from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 13th. Wall Street Zen raised Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings cut Community Financial System from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 23rd. Piper Sandler initiated coverage on Community Financial System in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 price objective on the stock. Finally, DA Davidson began coverage on shares of Community Financial System in a research report on Wednesday, February 25th. They set a “neutral” rating and a $72.00 price objective on the stock. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $66.67.

Insider Activity

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 stock was sold at an average price of $64.75, for a total value of $129,500.00. Following the transaction, the director directly owned 33,342 shares of the company’s stock, valued at $2,158,894.50. The trade was a 5.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John F. Whipple sold 4,246 shares of the company’s stock in a transaction that occurred 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 owned 8,506 shares of the company’s stock, valued at approximately $554,336.02. This trade represents a 33.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.01% of the stock is currently owned by insiders.

Community Financial System Price Performance

NYSE CBU opened at $56.79 on Monday. Community Financial System, Inc. has a 1 year low of $49.44 and a 1 year high of $67.50. The company has a fifty day simple moving average of $61.58 and a 200 day simple moving average of $59.41. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.99 billion, a P/E ratio of 14.31 and a beta of 0.80.

Community Financial System (NYSE:CBU) last announced its earnings results on Tuesday, January 27th. The bank reported $1.12 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.01). The firm had revenue of $215.56 million during the quarter, compared to the consensus estimate of $212.85 million. Community Financial System had a return on equity of 11.09% and a net margin of 20.82%.The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 EPS. On average, sell-side analysts predict that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Dividend Announcement

The firm also recently disclosed 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. This represents a $1.88 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, March 16th. Community Financial System’s payout ratio is currently 47.36%.

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.