Segall Bryant & Hamill LLC Reduces Stock Holdings in Community Financial System, Inc. $CBU

Segall Bryant & Hamill LLC trimmed its position in shares of Community Financial System, Inc. (NYSE:CBU) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 407,524 shares of the bank’s stock after selling 11,486 shares during the period. Segall Bryant & Hamill LLC owned 0.77% of Community Financial System worth $23,897,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of Community Financial System by 177.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after buying an additional 499 shares during the last quarter. CWM LLC raised its stake in Community Financial System by 56.1% in the 3rd quarter. CWM LLC now owns 899 shares of the bank’s stock valued at $53,000 after acquiring an additional 323 shares during the period. Smartleaf Asset Management LLC raised its stake in Community Financial System by 14.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock valued at $86,000 after acquiring an additional 189 shares during the period. Covestor Ltd lifted its holdings in Community Financial System by 110.7% during the third quarter. Covestor Ltd now owns 1,479 shares of the bank’s stock valued at $87,000 after purchasing an additional 777 shares during the last quarter. Finally, Strs Ohio bought a new position in Community Financial System during the first quarter worth about $102,000. 73.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Community Financial System

In other news, Director John F. Whipple sold 4,246 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $65.17, for a total transaction of $276,711.82. Following the transaction, the director directly owned 8,506 shares in the company, valued at approximately $554,336.02. This represents a 33.30% decrease in their position. The sale 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 firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total value of $129,500.00. Following the transaction, the director directly owned 33,342 shares in the company, valued at approximately $2,158,894.50. This represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler initiated coverage on shares of Community Financial System in a research report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 price target on the stock. Janney Montgomery Scott cut shares of Community Financial System from a “buy” rating to a “neutral” rating in a report on Tuesday, January 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Community Financial System in a research report on Monday, December 29th. Wall Street Zen lowered Community Financial System from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Finally, DA Davidson assumed coverage on Community Financial System in a report on Wednesday, February 25th. They set a “neutral” rating and a $72.00 target price for the company. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Community Financial System currently has a consensus rating of “Hold” and an average price target of $66.67.

Community Financial System Trading Up 0.7%

Shares of Community Financial System stock opened at $60.98 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.75 and a quick ratio of 0.76. Community Financial System, Inc. has a 1 year low of $49.44 and a 1 year high of $67.50. The firm has a market cap of $3.21 billion, a PE ratio of 15.36 and a beta of 0.80. The company has a 50 day simple moving average of $62.30 and a two-hundred day simple moving average of $59.59.

Community Financial System (NYSE:CBU) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.01). Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. The company had revenue of $215.56 million for the quarter, compared to analysts’ expectations of $212.85 million. During the same quarter last year, the business posted $0.94 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts expect that Community Financial System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Financial System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.88 annualized dividend and a yield of 3.1%. Community Financial System’s payout ratio is 47.36%.

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.