Fifth Third Bancorp Has $963,000 Stock Holdings in Community Financial System, Inc. $CBU

Fifth Third Bancorp boosted its holdings in shares of Community Financial System, Inc. (NYSE:CBU) by 7,231.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,422 shares of the bank’s stock after purchasing an additional 16,198 shares during the period. Fifth Third Bancorp’s holdings in Community Financial System were worth $963,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

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

Community Financial System Trading Down 0.2%

Shares of CBU opened at $67.09 on Monday. The stock has a fifty day moving average price of $65.38 and a two-hundred day moving average price of $62.98. 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 52-week low of $51.12 and a 52-week high of $71.11. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 16.29 and a beta of 0.77.

Community Financial System (NYSE:CBU) last announced its earnings results on Wednesday, April 29th. The bank reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $213.69 million during the quarter, compared to analyst estimates of $216.36 million. During the same period last year, the company posted $0.98 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts predict that Community Financial System, Inc. will post 4.7 EPS for the current fiscal year.

Community Financial System Increases Dividend

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

Insider Buying and Selling

In related news, Director Mark J. Bolus sold 12,191 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $67.00, for a total value of $816,797.00. Following the completion of the sale, the director owned 94,060 shares of the company’s stock, valued at $6,302,020. This trade represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric Stickels sold 2,000 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $63.98, for a total value of $127,960.00. Following the sale, the director owned 31,592 shares of the company’s stock, valued at approximately $2,021,256.16. The trade was a 5.95% decrease in their position. The SEC filing for this sale provides additional information. 1.15% of the stock is currently owned by corporate insiders.

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.