Community Financial System, Inc. (NYSE:CBU) Receives Average Rating of “Hold” from Brokerages

Shares of Community Financial System, Inc. (NYSE:CBU) have been given an average rating of “Hold” by the five analysts that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $66.6667.

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Community Financial System from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler assumed 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. Janney Montgomery Scott downgraded Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. Weiss Ratings upgraded Community Financial System from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Finally, DA Davidson started coverage on Community Financial System in a report on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price objective for the company.

Community Financial System Price Performance

Shares of NYSE CBU opened at $56.26 on Friday. Community Financial System has a 52 week low of $49.44 and a 52 week high of $67.50. The business’s 50 day moving average price is $61.98 and its 200 day moving average price is $59.49. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.97 billion, a P/E ratio of 14.17 and a beta of 0.80.

Community Financial System (NYSE:CBU) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). Community Financial System had a return on equity of 11.09% and a net margin of 20.82%.The business had revenue of $215.56 million for the quarter, compared to analysts’ expectations of $212.85 million. During the same period in the prior year, the business posted $0.94 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Community Financial System will post 4.18 earnings per share for the current year.

Community Financial System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Monday, March 16th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, March 16th. Community Financial System’s dividend payout ratio (DPR) is currently 47.36%.

Insider Buying and Selling at Community Financial System

In other news, Director Eric Stickels sold 2,000 shares of Community Financial System stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total transaction of $129,500.00. Following the completion of the transaction, the director directly owned 33,342 shares of the company’s stock, valued at $2,158,894.50. The trade was a 5.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John F. Whipple sold 4,246 shares of Community Financial System stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $65.17, for a total transaction of $276,711.82. Following the transaction, the director directly owned 8,506 shares of the company’s stock, valued at approximately $554,336.02. This trade represents a 33.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 9,696 shares of company stock valued at $609,244. 1.01% of the stock is owned by company insiders.

Institutional Trading of Community Financial System

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in Community Financial System by 17.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 114,362 shares of the bank’s stock valued at $6,706,000 after buying an additional 16,581 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Community Financial System by 14.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 206,169 shares of the bank’s stock worth $12,090,000 after buying an additional 26,002 shares during the last quarter. Norges Bank purchased a new stake in Community Financial System during the 2nd quarter worth approximately $34,546,000. Numerai GP LLC acquired a new position in shares of Community Financial System during the third quarter valued at approximately $4,117,000. Finally, Riggs Asset Managment Co. Inc. raised its holdings in shares of Community Financial System by 692.8% during the third quarter. Riggs Asset Managment Co. Inc. now owns 47,787 shares of the bank’s stock valued at $2,802,000 after acquiring an additional 41,759 shares during the last quarter. Institutional investors and hedge funds own 73.79% of the company’s stock.

About Community Financial System

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.