10,734 Shares in Community Financial System, Inc. $CBU Bought by Gallagher Fiduciary Advisors LLC

Gallagher Fiduciary Advisors LLC purchased a new stake in Community Financial System, Inc. (NYSE:CBU) during the second quarter, according to its most recent filing with the SEC. The fund purchased 10,734 shares of the bank’s stock, valued at approximately $720,000.

Several other hedge funds have also bought and sold shares of CBU. BlackRock Inc. purchased a new position in shares of Community Financial System during the second quarter valued at about $507,210,000. Dimensional Fund Advisors LP lifted its position 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 worth $106,647,000 after buying an additional 20,428 shares in the last quarter. Norges Bank bought a new position in Community Financial System during the fourth quarter valued at approximately $38,993,000. Bank of America Corp DE grew its holdings in 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 valued at $37,310,000 after buying an additional 363,012 shares in the last quarter. Finally, 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 buying an additional 40,384 shares in the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.

Community Financial System Stock Down 0.1%

NYSE CBU opened at $62.94 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average of $65.85 and a two-hundred day moving average of $63.40. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 14.60 and a beta of 0.78. Community Financial System, Inc. has a 52 week low of $53.46 and a 52 week high of $71.11.

Community Financial System (NYSE:CBU) last announced its earnings results on Tuesday, July 28th. The bank reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.02). The firm had revenue of $218.45 million during the quarter, compared to analysts’ expectations 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 revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. On average, analysts predict that Community Financial System, Inc. will post 4.58 earnings per share for the current year.

Community Financial System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Tuesday, September 15th will be given a $0.49 dividend. This is an increase from Community Financial System’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.96 dividend on an annualized basis and a yield of 3.1%. Community Financial System’s dividend payout ratio is currently 43.62%.

Insider Activity

In other Community Financial System news, Director Eric Stickels sold 2,000 shares of the firm’s 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 sale, the director owned 31,592 shares of the company’s stock, valued at $2,021,256.16. This trade represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark J. Bolus sold 12,191 shares of the company’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 transaction, the director directly owned 94,060 shares in the company, valued at approximately $6,302,020. This represents a 11.47% decrease in their position. The SEC filing for this sale provides additional information. 1.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. 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. Raymond James Financial reiterated a “strong-buy” rating and set a $75.00 price objective on shares of Community Financial System in a research report on Thursday, April 30th. Piper Sandler upped their target price on shares of Community Financial System from $66.00 to $71.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods lowered their price target on shares of Community Financial System from $70.00 to $68.00 and set a “market perform” rating for the company in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. One 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. According to data from MarketBeat, Community Financial System currently has an average rating of “Moderate Buy” and a consensus target price 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.