Community Financial System (NYSE:CBU) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Community Financial System (NYSE:CBU) from a hold rating to a sell rating in a research report report published on Saturday.

Several other analysts also recently weighed in on the company. Janney Montgomery Scott downgraded Community Financial System from a “buy” rating to a “neutral” rating in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Community Financial System in a research report on Monday, December 29th. Piper Sandler began coverage on Community Financial System in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 price objective for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $66.00 target price (down from $67.00) on shares of Community Financial System in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $64.00.

Community Financial System Stock Down 1.4%

Shares of NYSE:CBU opened at $61.88 on Friday. The firm has a 50 day simple moving average of $58.63 and a 200-day simple moving average of $57.96. Community Financial System has a twelve month low of $49.44 and a twelve month high of $68.11. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $3.26 billion, a PE ratio of 15.95 and a beta of 0.79.

Community Financial System (NYSE:CBU) last announced its quarterly earnings results on Tuesday, October 21st. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $1.03 by $0.06. Community Financial System had a net margin of 20.72% and a return on equity of 11.09%. The firm had revenue of $206.82 million for the quarter, compared to analyst estimates of $206.85 million. During the same period last year, the business earned $0.88 EPS. Community Financial System’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts predict that Community Financial System will post 4.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Community Financial System

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its stake in Community Financial System by 177.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 781 shares of the bank’s stock valued at $44,000 after buying an additional 499 shares during the period. CWM LLC boosted its holdings in shares of Community Financial System by 56.1% in the third quarter. CWM LLC now owns 899 shares of the bank’s stock valued at $53,000 after acquiring an additional 323 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Community Financial System by 841.6% in the second quarter. Farther Finance Advisors LLC now owns 1,403 shares of the bank’s stock valued at $80,000 after acquiring an additional 1,254 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Community Financial System by 14.9% during the third quarter. Smartleaf Asset Management LLC now owns 1,456 shares of the bank’s stock worth $86,000 after acquiring an additional 189 shares during the period. Finally, Covestor Ltd raised its holdings in Community Financial System by 110.7% during the third quarter. Covestor Ltd now owns 1,479 shares of the bank’s stock worth $87,000 after purchasing an additional 777 shares in the last quarter. 73.79% of the stock is owned by institutional investors and hedge funds.

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.