Community Financial System (NYSE:CBU) Upgraded to Hold at Wall Street Zen

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

Other equities analysts also recently issued reports about the stock. DA Davidson initiated coverage on shares of Community Financial System in a report on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price objective on the stock. Weiss Ratings upgraded shares of Community Financial System from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Piper Sandler began coverage on shares of Community Financial System in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 price target on the stock. Finally, Janney Montgomery Scott downgraded shares of Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $66.67.

Community Financial System Trading Up 0.1%

Shares of Community Financial System stock opened at $56.26 on Friday. The stock has a market cap of $2.97 billion, a P/E ratio of 14.17 and a beta of 0.80. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.23. Community Financial System has a 12-month low of $49.44 and a 12-month high of $67.50. The business’s 50 day moving average is $61.98 and its 200-day moving average is $59.49.

Community Financial System (NYSE:CBU) last issued its earnings results on Tuesday, January 27th. The bank reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.01). The firm had revenue of $215.56 million during the quarter, compared to analyst estimates of $212.85 million. Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.94 earnings per share. Equities research analysts predict that Community Financial System will post 4.18 earnings per share for the current fiscal year.

Insider Activity at Community Financial System

In other Community Financial System news, EVP Maureen A. Gillan-Myer sold 3,450 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $58.85, for a total value of $203,032.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Eric Stickels sold 2,000 shares of Community Financial System stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total value of $129,500.00. Following the completion of the transaction, the director owned 33,342 shares in the company, valued at approximately $2,158,894.50. The trade was a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,696 shares of company stock valued at $609,244 over the last three months. 1.01% of the stock is owned by insiders.

Institutional Trading of Community Financial System

Several institutional investors and hedge funds have recently modified their holdings of CBU. Norges Bank bought a new position in Community Financial System in the fourth quarter valued at about $38,993,000. Bank of America Corp DE lifted its holdings in shares of Community Financial System by 132.9% in the third quarter. Bank of America Corp DE now owns 636,257 shares of the bank’s stock worth $37,310,000 after acquiring an additional 363,012 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Community Financial System by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 550,613 shares of the bank’s stock worth $31,308,000 after acquiring an additional 40,384 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Community Financial System by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 541,428 shares of the bank’s stock valued at $31,100,000 after purchasing an additional 16,990 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its stake in shares of Community Financial System by 740.1% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank’s stock valued at $23,059,000 after purchasing an additional 353,663 shares in the last quarter. 73.79% of the stock is currently owned by institutional investors.

Community Financial System Company Profile

Community Financial System (NYSE: CBU) is the bank holding company for Community Bank, National Association, a full-service commercial bank headquartered in DeWitt, New York. Through its principal subsidiary, the company offers a range of banking and financial services designed to meet the needs of both consumer and business clients. Its organizational structure centers on community-based banking operations supported by centralized technology, risk management and administrative functions.

The company’s product offerings include deposit accounts, residential and commercial mortgage loans, commercial and consumer lending, treasury and cash management services, and electronic banking.