Eric Stickels Sells 2,000 Shares of Community Financial System (NYSE:CBU) Stock

Community Financial System, Inc. (NYSE:CBU) Director Eric Stickels sold 2,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $64.75, for a total transaction of $129,500.00. Following the completion of the sale, the director owned 33,342 shares in the company, valued at approximately $2,158,894.50. This trade represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Community Financial System Trading Up 1.7%

Shares of CBU stock opened at $66.50 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.75 and a quick ratio of 0.76. The firm has a market cap of $3.50 billion, a PE ratio of 16.75 and a beta of 0.81. The company has a 50-day moving average of $60.70 and a two-hundred day moving average of $58.44. Community Financial System, Inc. has a 1-year low of $49.44 and a 1-year high of $67.67.

Community Financial System (NYSE:CBU) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.06). Community Financial System had a net margin of 20.82% and a return on equity of 11.09%. The company had revenue of $215.56 million during the quarter, compared to analysts’ expectations of $212.85 million. During the same period last year, the firm posted $0.94 earnings per share. Community Financial System’s revenue was up 9.8% on a year-over-year basis. On average, analysts predict that Community Financial System, Inc. will post 4.18 EPS for the current year.

Community Financial System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Monday, March 16th will be paid 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 is Monday, March 16th. Community Financial System’s dividend payout ratio is 47.36%.

Wall Street Analysts Forecast Growth

CBU has been the subject of several research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $66.00 price target (down from $67.00) on shares of Community Financial System in a research report on Thursday, October 23rd. Piper Sandler started coverage on Community Financial System in a report on Wednesday, December 3rd. They set a “neutral” rating and a $62.00 target price for the company. Wall Street Zen lowered shares of Community Financial System from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Janney Montgomery Scott cut shares of Community Financial System from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Community Financial System in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Community Financial System has a consensus rating of “Hold” and a consensus price target of $64.00.

Hedge Funds Weigh In On Community Financial System

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Community Financial System during the second quarter worth about $34,546,000. Y Intercept Hong Kong Ltd increased its position in Community Financial System by 56.1% during the second quarter. Y Intercept Hong Kong Ltd now owns 19,060 shares of the bank’s stock worth $1,084,000 after buying an additional 6,850 shares during the period. Envestnet Asset Management Inc. lifted its stake in Community Financial System by 16.4% in the second quarter. Envestnet Asset Management Inc. now owns 97,781 shares of the bank’s stock valued at $5,561,000 after buying an additional 13,794 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Community Financial System by 1.0% in the second quarter. Janney Montgomery Scott LLC now owns 50,920 shares of the bank’s stock valued at $2,896,000 after acquiring an additional 514 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in shares of Community Financial System by 1.2% in the second quarter. Yousif Capital Management LLC now owns 19,665 shares of the bank’s stock valued at $1,118,000 after acquiring an additional 225 shares during the period. 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.