COMMUNITY FINANCIAL SYSTEM, INC.
In the published model solve dated 2026-Q2, anchored at $63.85, COMMUNITY FINANCIAL SYSTEM, INC. (CBU) is priced for 12.7% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Four business lines share one holding company, and three of them barely use the balance sheet: the FY2025 filing puts Banking and Corporate segment assets at 17.02 billion dollars against 250 million for employee benefit services, 115 million for insurance and 43 million for wealth management. • The stretch is the price, not the bank: about 1.7 times book value, the top of its peer group, against a return on equity of roughly 10.5% and a cost of equity near 9.6%. • Reported book value is only
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253 institutional managers reported holding CBU in 13F filings for the quarter ended 2026-03-31. Together they hold about 75% of the company; the top 10 hold 57%. 30 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 2.0M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (8.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
CBU has cut its share count 2.5% over the past five years, spending $124.53M on repurchases. It pays a dividend, and has paid one every year in our records (16 and counting), raised 14 years straight; the current rate is $1.86 a share annually. Cash returned over the past three years: $265.82M in dividends and $82.26M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at CBU over the trailing three years: 2023: 4 buys totaling $243k; 2024: 3 buys totaling $107k. 20 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
CBU's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-10 | +4.9% | -19.2% |
| 2023-11-10 | -4.8% | +19.3% |
| 2024-03-01 | -4.5% | +1.8% |
| 2024-05-11 | +2.0% | +10.3% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
CBU's latest 8-K filings: 2026-08-21 (items 7.01); 2026-07-28 (items 2.02, 9.01); 2026-06-01 (items 8.01, 9.01); 2026-05-22 (items 5.07); 2026-05-13 (items 7.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.