Quantinno Capital Management LP Purchases 13,502 Shares of Community Financial System, Inc. $CBU

Quantinno Capital Management LP raised its position in Community Financial System, Inc. (NYSE:CBU) by 191.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,561 shares of the bank’s stock after buying an additional 13,502 shares during the quarter. Quantinno Capital Management LP’s holdings in Community Financial System were worth $1,206,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Community Financial System by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,141 shares of the bank’s stock worth $1,771,000 after acquiring an additional 1,362 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Community Financial System by 7.9% during the first 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Community Financial System by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,619 shares of the bank’s stock worth $7,768,000 after purchasing an additional 8,182 shares during the last quarter. Jane Street Group LLC lifted its stake in Community Financial System by 523.4% during the first quarter. Jane Street Group LLC now owns 145,719 shares of the bank’s stock worth $8,286,000 after purchasing an additional 122,343 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of Community Financial System by 37.5% in the 1st quarter. Intech Investment Management LLC now owns 25,846 shares of the bank’s stock valued at $1,470,000 after purchasing an additional 7,052 shares in the last quarter. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Community Financial System Stock Performance

NYSE CBU opened at $65.80 on Friday. The firm’s fifty day moving average price is $65.99 and its two-hundred day moving average price is $63.36. The stock has a market cap of $3.46 billion, a PE ratio of 15.27 and a beta of 0.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.77 and a current ratio of 0.77. Community Financial System, Inc. has a fifty-two week low of $53.46 and a fifty-two week high of $71.11.

Community Financial System (NYSE:CBU) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). Community Financial System had a net margin of 21.79% and a return on equity of 11.47%. The firm had revenue of $218.45 million during the quarter, compared to the consensus estimate of $221.77 million. During the same quarter in the previous year, the company posted $1.04 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. On average, equities analysts expect that Community Financial System, Inc. will post 4.6 EPS for the current fiscal year.

Community Financial System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 15th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a boost from Community Financial System’s previous quarterly dividend of $0.47. Community Financial System’s payout ratio is currently 43.62%.

Insider Transactions at Community Financial System

In other Community Financial System news, Director Mark J. Bolus sold 12,191 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $67.00, for a total value of $816,797.00. Following the completion of the transaction, the director directly owned 94,060 shares in the company, valued at approximately $6,302,020. This trade represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Stickels sold 2,000 shares of the stock in a transaction dated Monday, June 8th. The shares were 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 of the company’s stock, valued at $2,021,256.16. This represents a 5.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler lifted their price target on Community Financial System from $66.00 to $71.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. 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 dropped their price objective on Community Financial System from $70.00 to $68.00 and set a “market perform” rating for the company in a research report on Thursday, July 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. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $75.00 target price on shares of Community Financial System in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Community Financial System currently has a consensus rating of “Moderate Buy” and an average price target of $71.50.

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.