Community Financial System, Inc. (NYSE:CBU) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Community Financial System, Inc. (NYSE:CBU) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $69.75.

A number of research firms recently weighed in on CBU. Raymond James Financial reaffirmed a “strong-buy” rating and set a $75.00 price target on shares of Community Financial System in a report on Thursday, April 30th. Piper Sandler increased their price objective on Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Weiss Ratings upgraded Community Financial System from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. DA Davidson initiated coverage on Community Financial System in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $72.00 price objective on the stock. Finally, Wall Street Zen upgraded Community Financial System from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position 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 during the last quarter. SG Americas Securities LLC boosted its position in Community Financial System by 2,430.6% in the 4th quarter. SG Americas Securities LLC now owns 168,892 shares of the bank’s stock valued at $9,701,000 after buying an additional 162,218 shares during the last quarter. Numerai GP LLC bought a new position in Community Financial System in the 3rd quarter valued at $4,117,000. Public Sector Pension Investment Board boosted its position in shares of 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 purchasing an additional 26,002 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its position in shares of Community Financial System by 692.8% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 47,787 shares of the bank’s stock worth $2,802,000 after purchasing an additional 41,759 shares during the last quarter. 73.79% of the stock is currently owned by institutional investors.

Community Financial System Trading Up 3.1%

CBU stock opened at $63.45 on Friday. The business has a fifty day moving average price of $62.07 and a 200 day moving average price of $60.97. Community Financial System has a fifty-two week low of $51.12 and a fifty-two week high of $67.50. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 15.40 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.77 and a quick ratio of 0.77.

Community Financial System (NYSE:CBU) last released its quarterly earnings results on Wednesday, April 29th. The bank reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. Community Financial System had a return on equity of 11.24% and a net margin of 21.26%.The firm had revenue of $213.69 million during the quarter, compared to analysts’ expectations of $216.36 million. During the same period last year, the firm posted $0.98 EPS. The business’s revenue was up 8.7% on a year-over-year basis. Analysts expect that Community Financial System will post 4.74 EPS for the current fiscal year.

Community Financial System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 15th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Monday, June 15th. Community Financial System’s dividend payout ratio (DPR) is presently 45.63%.

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.