Community Financial System (NYSE:CBU) Reaches New 1-Year High – Should You Buy?

Community Financial System, Inc. (NYSE:CBU)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $67.50 and last traded at $67.3940, with a volume of 88079 shares changing hands. The stock had previously closed at $66.39.

Analyst Ratings Changes

Several equities research analysts recently commented on CBU shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $66.00 target price (down from $67.00) on shares of Community Financial System in a research report on Thursday, October 23rd. Piper Sandler initiated coverage on Community Financial System in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $62.00 target price for the company. Janney Montgomery Scott downgraded Community Financial System from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Community Financial System in a research note on Monday, December 29th. Finally, Wall Street Zen cut Community Financial System from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $64.00.

Community Financial System Stock Performance

The stock has a market capitalization of $3.52 billion, a P/E ratio of 16.84 and a beta of 0.81. The company’s fifty day simple moving average is $60.70 and its 200 day simple moving average is $58.48. The company has a current ratio of 0.75, a quick ratio of 0.76 and a debt-to-equity ratio of 0.23.

Community Financial System (NYSE:CBU) last posted its earnings results on Tuesday, January 27th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.06). Community Financial System had a return on equity of 11.09% and a net margin of 20.82%.The business had revenue of $215.56 million for the quarter, compared to analysts’ expectations of $212.85 million. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Community Financial System’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Community Financial System, Inc. will post 4.18 earnings per share for the current fiscal year.

Community Financial System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Monday, March 16th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, March 16th. This represents a $1.88 annualized dividend and a dividend yield of 2.8%. Community Financial System’s dividend payout ratio (DPR) is 47.36%.

Insider Buying and Selling at Community Financial System

In other news, Director Eric Stickels sold 2,000 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $64.75, for a total transaction of $129,500.00. Following the transaction, the director directly owned 33,342 shares in the company, valued at approximately $2,158,894.50. This represents a 5.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John F. Whipple sold 4,246 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $65.17, for a total value of $276,711.82. Following the completion of the sale, the director directly owned 8,506 shares of the company’s stock, valued at approximately $554,336.02. This represents a 33.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.01% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Community Financial System

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Community Financial System in the second quarter valued at about $34,546,000. Y Intercept Hong Kong Ltd raised its holdings in shares of 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 valued at $1,084,000 after acquiring an additional 6,850 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Community Financial System by 16.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 97,781 shares of the bank’s stock valued at $5,561,000 after purchasing an additional 13,794 shares during the period. Yousif Capital Management LLC raised its holdings in Community Financial System by 1.2% in the 2nd quarter. Yousif Capital Management LLC now owns 19,665 shares of the bank’s stock worth $1,118,000 after purchasing an additional 225 shares in the last quarter. Finally, Atria Investments Inc boosted its stake in shares of Community Financial System by 55.8% during the 2nd quarter. Atria Investments Inc now owns 15,321 shares of the bank’s stock valued at $871,000 after purchasing an additional 5,489 shares in the last quarter. Hedge funds and other institutional investors own 73.79% of the company’s stock.

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.