Community Financial System, Inc. (NYSE:CBU) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Community Financial System, Inc. (NYSE:CBU) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 540,816 shares of the bank’s stock after selling 25,104 shares during the quarter. Bank of New York Mellon Corp’s holdings in Community Financial System were worth $30,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CBU. Norges Bank purchased a new stake in Community Financial System in the 4th quarter valued at about $34,779,000. Deprince Race & Zollo Inc. purchased a new stake in Community Financial System in the 4th quarter valued at about $32,368,000. JPMorgan Chase & Co. raised its holdings in Community Financial System by 210.0% in the 4th quarter. JPMorgan Chase & Co. now owns 348,405 shares of the bank’s stock valued at $21,490,000 after buying an additional 236,028 shares during the period. Northern Trust Corp raised its holdings in Community Financial System by 27.3% in the 4th quarter. Northern Trust Corp now owns 677,841 shares of the bank’s stock valued at $41,809,000 after buying an additional 145,172 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Community Financial System by 12.9% in the 4th quarter. Federated Hermes Inc. now owns 831,387 shares of the bank’s stock valued at $51,280,000 after buying an additional 94,850 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.

Community Financial System Stock Down 3.3%

Shares of NYSE:CBU opened at $56.44 on Wednesday. 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 firm has a market capitalization of $2.98 billion, a PE ratio of 15.63 and a beta of 0.78. The firm’s 50-day moving average is $56.95 and its two-hundred day moving average is $58.67. Community Financial System, Inc. has a 1 year low of $49.44 and a 1 year high of $73.39.

Community Financial System (NYSE:CBU) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $196.20 million for the quarter, compared to analyst estimates of $197.13 million. Community Financial System had a net margin of 19.89% and a return on equity of 10.98%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 earnings per share. Analysts predict that Community Financial System, Inc. will post 4.18 EPS for the current year.

Wall Street Analyst Weigh In

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

Community Financial System Company 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.