Community Financial System (NYSE:CBU) Director Mark Bolus Sells 12,191 Shares of Stock

Community Financial System, Inc. (NYSE:CBU) Director Mark Bolus sold 12,191 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $67.00, for a total value of $816,797.00. Following the completion of the sale, the director directly owned 94,060 shares of the company’s stock, valued at $6,302,020. The trade was a 11.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Community Financial System Stock Performance

Shares of NYSE:CBU opened at $66.72 on Tuesday. The company has a market cap of $3.51 billion, a P/E ratio of 16.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77. Community Financial System, Inc. has a one year low of $51.12 and a one year high of $68.58. The business’s 50-day simple moving average is $63.58 and its 200 day simple moving average is $61.87.

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, topping 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 quarter in the prior year, the business earned $0.98 EPS. Community Financial System’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that Community Financial System, Inc. will post 4.74 earnings per share for the current fiscal year.

Community Financial System Announces Dividend

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 issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, June 15th. Community Financial System’s dividend payout ratio (DPR) is presently 45.63%.

Institutional Investors Weigh In On Community Financial System

Several institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in Community Financial System by 507.0% in the fourth quarter. IFP Advisors Inc now owns 522 shares of the bank’s stock worth $30,000 after purchasing an additional 436 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Community Financial System by 177.0% during the second quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock worth $44,000 after purchasing an additional 499 shares during the period. Lipe & Dalton bought a new position in shares of Community Financial System in the 4th quarter worth about $52,000. Strs Ohio bought a new position in shares of Community Financial System in the 1st quarter worth about $102,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Community Financial System in the 4th quarter valued at about $155,000. 73.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CBU. Piper Sandler upped their price objective on shares of Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Wall Street Zen raised shares of Community Financial System from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Raymond James Financial reiterated a “strong-buy” rating and set a $75.00 price objective on shares of Community Financial System in a research note on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Community Financial System from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.75.

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.