Community Financial System (NYSE:CBU) Cut to Sell at Wall Street Zen

Community Financial System (NYSE:CBU) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on CBU. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Community Financial System in a research note on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $66.00 price target (down previously from $67.00) on shares of Community Financial System in a research note on Thursday, October 23rd. Finally, Piper Sandler assumed coverage on Community Financial System in a research note on Wednesday. They issued a “neutral” rating and a $62.00 price objective on the stock. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $64.00.

Community Financial System Stock Up 0.1%

NYSE:CBU opened at $58.62 on Friday. Community Financial System has a 52 week low of $49.44 and a 52 week high of $69.69. The stock’s fifty day moving average is $56.90 and its two-hundred day moving average is $57.18. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 15.11 and a beta of 0.79. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.28.

Community Financial System (NYSE:CBU) last posted its earnings results on Tuesday, October 21st. The bank reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.06. The firm had revenue of $206.82 million for the quarter, compared to analyst estimates of $206.85 million. Community Financial System had a return on equity of 11.09% and a net margin of 20.72%.Community Financial System’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. Research analysts anticipate that Community Financial System will post 4.18 EPS for the current year.

Institutional Investors Weigh In On Community Financial System

Several hedge funds and other institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. boosted its holdings in Community Financial System by 2.7% in the second quarter. QRG Capital Management Inc. now owns 6,740 shares of the bank’s stock valued at $383,000 after purchasing an additional 177 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Community Financial System by 14.9% during the third quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock worth $86,000 after purchasing an additional 189 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Community Financial System by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 48,580 shares of the bank’s stock worth $2,763,000 after buying an additional 191 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Community Financial System by 1.0% in the 2nd quarter. Lazard Asset Management LLC now owns 20,468 shares of the bank’s stock valued at $1,164,000 after buying an additional 201 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in shares of Community Financial System by 5.0% in the 2nd quarter. Park Avenue Securities LLC now owns 4,534 shares of the bank’s stock valued at $258,000 after buying an additional 214 shares in the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

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.