Neuberger Berman Group Reduces $6M in Community Financial System, Inc. ($CBU)
Key Points
- Neuberger Berman Group changed its Community Financial System, Inc. ($CBU) stake by 2.5% last quarter, cutting to 3,715,425 shares worth $245.89 million.
- Wall Street's consensus rating on $CBU is Hold and an average price target of $68.50.
- $CBU last traded around $66.18.
Neuberger Berman Group trimmed its position in Community Financial System, Inc. ($CBU) by 2.5% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,715,425 shares of Community Financial System, Inc. after selling 97,020 shares during the quarter. Neuberger Berman Group's holdings in Community Financial System, Inc. were worth $245.89 million as of its most recent filing.
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About Community Financial System, Inc.
Community Financial 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 governmental customers. The company operates in four segments: Banking, Employee Benefit Services, Insurance Services and Wealth Management Services. The Banking Segment offers lending and depository-related products and services; treasury management solutions and payment processing services, as well as certain corporate overhead-related expenses to individuals, businesses, and governmental units. The Employee Benefit Segment provides employee benefit trust, collective investment fund, retirement plan and health savings account administration, fund administration, transfer agency, actuarial, health and welfare consulting services and introducing broker-dealer services. The Insurance Services segment offers personal and commercial lines of insurance and other risk management products and services, as well as employee benefit related services. The Wealth Management Services provides wealth management, retirement planning, higher educational planning, fiduciary, risk management, trust services, and personal financial planning services. This segment also offers a range of investment products including stocks, bonds, exchange-traded funds, mutual funds, insurance, and advisory products. Community Financial System, Inc. was founded in 1866 and is headquartered in Syracuse, New York.
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