Community Financial System (NYSE:CBU) Shares Pass Above 200-Day Moving Average – What’s Next?

Community Financial System, Inc. (NYSE:CBU) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $61.69 and traded as high as $66.75. Community Financial System shares last traded at $66.5370, with a volume of 543,357 shares trading hands.

Wall Street Analyst Weigh In

CBU has been the topic of several analyst reports. DA Davidson started coverage on Community Financial System in a report on Wednesday, February 25th. They set a “neutral” rating and a $72.00 price objective on the stock. Piper Sandler increased their target price on Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Raymond James Financial reissued a “strong-buy” rating and set a $75.00 price target on shares of Community Financial System in a research report on Thursday, April 30th. Weiss Ratings lowered shares of Community Financial System from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Community Financial System has an average rating of “Moderate Buy” and an average price target of $69.75.

Community Financial System Stock Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market cap of $3.50 billion, a P/E ratio of 16.15 and a beta of 0.78. The company has a fifty day moving average of $63.26 and a 200 day moving average of $61.69.

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

Community Financial System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.88 annualized dividend and a dividend yield of 2.8%. Community Financial System’s payout ratio is presently 45.63%.

Insider Buying and Selling

In other news, Director Eric Stickels sold 2,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $63.98, for a total transaction of $127,960.00. Following the transaction, the director owned 31,592 shares in the company, valued at $2,021,256.16. This represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Community Financial System

Hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Community Financial System during the 4th quarter valued at about $38,993,000. Bank of America Corp DE lifted its holdings in Community Financial System by 132.9% in the 3rd quarter. Bank of America Corp DE now owns 636,257 shares of the bank’s stock worth $37,310,000 after purchasing an additional 363,012 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its position in Community Financial System by 740.1% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 401,450 shares of the bank’s stock worth $23,059,000 after purchasing an additional 353,663 shares during the period. Basswood Capital Management L.L.C. bought a new stake in Community Financial System during the second quarter worth approximately $15,185,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Community Financial System by 10,989.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 200,049 shares of the bank’s stock valued at $11,491,000 after purchasing an additional 198,245 shares during the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.

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.