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 report issued on Saturday.

Other equities research analysts have also issued reports about the stock. Piper Sandler raised their price target on shares of Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 price objective on shares of Community Financial System in a report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.75.

Community Financial System Stock Down 0.2%

NYSE CBU opened at $67.50 on Friday. The stock has a market cap of $3.55 billion, a PE ratio of 16.38 and a beta of 0.77. Community Financial System has a fifty-two week low of $51.12 and a fifty-two week high of $69.23. The business has a 50 day moving average price of $63.96 and a two-hundred day moving average price of $62.07. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.22.

Community Financial System (NYSE:CBU) last issued its quarterly earnings data on Wednesday, April 29th. The bank reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.05. The company had revenue of $213.69 million during the quarter, compared to the consensus estimate of $216.36 million. Community Financial System had a net margin of 21.26% and a return on equity of 11.24%. Community Financial System’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. As a group, sell-side analysts predict that Community Financial System will post 4.7 EPS for the current fiscal year.

Insider Transactions at Community Financial System

In other Community Financial System news, Director Eric Stickels sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $63.98, for a total transaction of $127,960.00. Following the sale, the director owned 31,592 shares in the company, valued at $2,021,256.16. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark J. Bolus sold 12,191 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $67.00, for a total value of $816,797.00. Following the transaction, the director directly owned 94,060 shares in the company, valued at approximately $6,302,020. This represents a 11.47% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Community Financial System

A number of institutional investors have recently made changes to their positions in CBU. IFP Advisors Inc raised its position in shares of Community Financial System by 507.0% during the 4th quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock valued at $30,000 after acquiring an additional 436 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Community Financial System by 177.0% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after purchasing an additional 499 shares during the last quarter. Lipe & Dalton bought a new stake in Community Financial System during the fourth quarter valued at $52,000. Strs Ohio bought a new stake in Community Financial System during the first quarter valued at $102,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Community Financial System during the fourth quarter worth $155,000. 73.79% of the stock is currently owned by institutional investors.

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.