Bank of New York Mellon Corp Trims Stock Holdings in Community Financial System, Inc. $CBU

Bank of New York Mellon Corp decreased its position in Community Financial System, Inc. (NYSE:CBU) by 1.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 530,902 shares of the bank’s stock after selling 10,526 shares during the quarter. Bank of New York Mellon Corp owned about 1.01% of Community Financial System worth $31,137,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in Community Financial System by 507.0% in the 4th quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock valued at $30,000 after acquiring an additional 436 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Community Financial System by 177.0% in the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after purchasing an additional 499 shares during the last quarter. Lipe & Dalton purchased a new position in Community Financial System during the fourth quarter worth about $52,000. Strs Ohio purchased a new position in Community Financial System during the first quarter worth about $102,000. Finally, Kestra Advisory Services LLC acquired a new stake in Community Financial System in the 4th quarter worth about $155,000. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Raymond James Financial restated a “strong-buy” rating and issued a $75.00 price target on shares of Community Financial System in a report on Thursday, April 30th. Weiss Ratings raised Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 2nd. Piper Sandler boosted their target price on Community Financial System from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.75.

Community Financial System Price Performance

CBU stock opened at $67.09 on Monday. The firm has a market cap of $3.53 billion, a P/E ratio of 16.29 and a beta of 0.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77. Community Financial System, Inc. has a 1 year low of $51.12 and a 1 year high of $71.11. The stock has a 50-day simple moving average of $65.38 and a 200-day simple moving average of $62.98.

Community Financial System (NYSE:CBU) last released its quarterly earnings results on Wednesday, April 29th. The bank reported $1.15 EPS for the quarter, topping the consensus estimate of $1.10 by $0.05. Community Financial System had a return on equity of 11.24% and a net margin of 21.26%.The firm had revenue of $213.69 million for the quarter, compared to analyst estimates of $216.36 million. During the same period in the previous year, the company posted $0.98 EPS. Community Financial System’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts predict that Community Financial System, Inc. will post 4.7 earnings per share for the current fiscal year.

Community Financial System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a positive change from Community Financial System’s previous quarterly dividend of $0.47. Community Financial System’s dividend payout ratio (DPR) is 45.63%.

Insider Buying and Selling at Community Financial System

In related news, Director Mark J. Bolus sold 12,191 shares of Community Financial System stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $67.00, for a total transaction of $816,797.00. Following the sale, the director owned 94,060 shares of the company’s stock, valued at $6,302,020. The trade was a 11.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eric Stickels sold 2,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $63.98, for a total value of $127,960.00. Following the completion of the transaction, the director owned 31,592 shares in the company, valued at approximately $2,021,256.16. This trade represents a 5.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.15% of the company’s stock.

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.