Community Financial System, Inc. $CBU Shares Purchased by Atria Investments Inc

Atria Investments Inc lifted its position in shares of Community Financial System, Inc. (NYSE:CBU) by 55.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 15,321 shares of the bank’s stock after purchasing an additional 5,489 shares during the period. Atria Investments Inc’s holdings in Community Financial System were worth $871,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CBU. QRG Capital Management Inc. grew its stake in Community Financial System by 2.7% during the 2nd quarter. QRG Capital Management Inc. now owns 6,740 shares of the bank’s stock valued at $383,000 after purchasing an additional 177 shares in the last quarter. Xponance Inc. increased its position in shares of Community Financial System by 4.9% during the 1st quarter. Xponance Inc. now owns 3,950 shares of the bank’s stock valued at $225,000 after purchasing an additional 186 shares during the period. Park Avenue Securities LLC boosted its holdings in Community Financial System by 5.0% during the second quarter. Park Avenue Securities LLC now owns 4,534 shares of the bank’s stock worth $258,000 after buying an additional 214 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Community Financial System by 1.2% in the second quarter. Yousif Capital Management LLC now owns 19,665 shares of the bank’s stock worth $1,118,000 after buying an additional 225 shares during the period. Finally, Rise Advisors LLC boosted its position in Community Financial System by 48.8% during the 1st quarter. Rise Advisors LLC now owns 698 shares of the bank’s stock worth $40,000 after acquiring an additional 229 shares during the period. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Community Financial System Trading Up 1.0%

CBU stock opened at $56.84 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28. The firm has a market cap of $3.00 billion, a P/E ratio of 14.65 and a beta of 0.79. Community Financial System, Inc. has a 1-year low of $49.44 and a 1-year high of $73.39. The business’s 50 day moving average is $58.06 and its 200-day moving average is $57.11.

Community Financial System (NYSE:CBU) last announced its earnings results on Tuesday, October 21st. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $1.03 by $0.06. Community Financial System had a return on equity of 11.09% and a net margin of 20.72%.The business had revenue of $206.82 million for the quarter, compared to the consensus estimate of $206.85 million. During the same period in the previous year, the business earned $0.88 EPS. Community Financial System’s revenue was up 9.6% compared to the same quarter last year. Equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Friday, December 12th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, December 12th. This represents a $1.88 annualized dividend and a dividend yield of 3.3%. Community Financial System’s payout ratio is currently 48.45%.

Insider Transactions at Community Financial System

In other news, SVP Jeffrey M. Levy sold 1,440 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $61.38, for a total transaction of $88,387.20. Following the completion of the transaction, the senior vice president directly owned 6,657 shares in the company, valued at approximately $408,606.66. The trade was a 17.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CBU has been the subject of several analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $66.00 price objective (down previously from $67.00) on shares of Community Financial System in a research note on Thursday, October 23rd. Wall Street Zen upgraded shares of Community Financial System from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Community Financial System in a research report on Thursday, October 30th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $68.00.

Community Financial System Company Profile

Community Bank System, Inc operates as the bank holding company for Community Bank, N.A. that provides various banking and other financial services to retail, commercial, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as interest and noninterest -bearing checking, savings, and money market deposit accounts, as well as time deposits.