State of Alaska Department of Revenue Sells 624 Shares of Community Financial System, Inc. (NYSE:CBU)

State of Alaska Department of Revenue cut its position in Community Financial System, Inc. (NYSE:CBU) by 2.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,183 shares of the bank’s stock after selling 624 shares during the quarter. State of Alaska Department of Revenue’s holdings in Community Financial System were worth $1,659,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Community Financial System by 17.1% in the 4th quarter. US Bancorp DE now owns 1,081 shares of the bank’s stock valued at $67,000 after purchasing an additional 158 shares during the period. Smartleaf Asset Management LLC boosted its stake in Community Financial System by 140.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,203 shares of the bank’s stock valued at $74,000 after purchasing an additional 702 shares during the period. Principal Securities Inc. boosted its stake in Community Financial System by 13.7% in the 4th quarter. Principal Securities Inc. now owns 1,774 shares of the bank’s stock valued at $109,000 after purchasing an additional 214 shares during the period. Aquatic Capital Management LLC bought a new stake in Community Financial System in the 4th quarter valued at $125,000. Finally, Assetmark Inc. bought a new stake in Community Financial System in the 4th quarter valued at $127,000. 73.79% of the stock is currently owned by institutional investors.

Community Financial System Price Performance

Shares of NYSE CBU opened at $56.24 on Wednesday. The stock has a market capitalization of $2.97 billion, a PE ratio of 15.58 and a beta of 0.79. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.76 and a quick ratio of 0.76. The business has a fifty day moving average price of $55.87 and a two-hundred day moving average price of $59.32. Community Financial System, Inc. has a fifty-two week low of $44.17 and a fifty-two week high of $73.39.

Community Financial System (NYSE:CBU) last announced its quarterly earnings data on Tuesday, April 29th. The bank reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $197.13 million. Community Financial System had a return on equity of 10.98% and a net margin of 19.89%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.18 EPS. As a group, equities analysts predict 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 Thursday, July 10th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.27%. Community Financial System’s dividend payout ratio (DPR) is currently 50.97%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a research note on Friday, May 16th.

Community Financial System 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.