Deutsche Bank AG Purchases New Shares in Community Financial System, Inc. $CBU

Deutsche Bank AG purchased a new position in Community Financial System, Inc. (NYSE:CBU) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 56,551 shares of the bank’s stock, valued at approximately $3,796,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Community Financial System by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,818,395 shares of the bank’s stock valued at $106,647,000 after acquiring an additional 20,428 shares during the period. Norges Bank purchased a new position in shares of Community Financial System during the 4th quarter worth about $38,993,000. Bank of America Corp DE boosted its stake in shares of Community Financial System by 132.9% during the 3rd quarter. Bank of America Corp DE now owns 636,257 shares of the bank’s stock worth $37,310,000 after purchasing an additional 363,012 shares during the period. Goldman Sachs Group Inc. grew its holdings in Community Financial System by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock valued at $31,308,000 after purchasing an additional 40,384 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Community Financial System during the 2nd quarter valued at about $36,523,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Community Financial System

In related news, Director Mark J. Bolus sold 12,191 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $67.00, for a total value of $816,797.00. Following the transaction, the director owned 94,060 shares of the company’s stock, valued at $6,302,020. This represents a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Stickels sold 2,000 shares of the firm’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 transaction, the director owned 31,592 shares in the company, valued at $2,021,256.16. The trade was a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.15% of the company’s stock.

Community Financial System Trading Down 0.1%

NYSE CBU opened at $62.94 on Wednesday. The stock has a market cap of $3.31 billion, a PE ratio of 14.60 and a beta of 0.78. Community Financial System, Inc. has a 12 month low of $53.46 and a 12 month high of $71.11. The company’s 50-day moving average price is $65.85 and its 200-day moving average price is $63.40. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.29.

Community Financial System (NYSE:CBU) last announced its quarterly earnings data on Tuesday, July 28th. The bank reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). The company had revenue of $218.45 million for the quarter, compared to the consensus estimate of $221.77 million. Community Financial System had a net margin of 21.79% and a return on equity of 11.47%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 EPS. Equities research analysts forecast that Community Financial System, Inc. will post 4.58 earnings per share for the current 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. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Community Financial System’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 15th. Community Financial System’s dividend payout ratio is 43.62%.

Analyst Ratings Changes

A number of analysts recently weighed in on CBU shares. Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. Keefe, Bruyette & Woods cut their target price on Community Financial System from $70.00 to $68.00 and set a “market perform” rating on the stock in a research note on Thursday, July 30th. Piper Sandler increased their price target on Community Financial System from $66.00 to $71.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $75.00 price target on shares of Community Financial System in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.50.

About Community Financial System

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.