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

Community Financial System, Inc. (NYSE:CBU) Director Mark Bolus sold 12,191 shares of the 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 sale, the director owned 94,060 shares of the company’s stock, valued at approximately $6,302,020. The trade was a 11.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Community Financial System Trading Down 1.5%

Shares of NYSE:CBU traded down $1.02 during midday trading on Monday, reaching $66.45. The company’s stock had a trading volume of 174,937 shares, compared to its average volume of 267,424. Community Financial System, Inc. has a fifty-two week low of $51.12 and a fifty-two week high of $68.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a 50 day moving average price of $63.48 and a two-hundred day moving average price of $61.82. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 16.13 and a beta of 0.78.

Community Financial System (NYSE:CBU) last released its earnings results on Wednesday, April 29th. The bank reported $1.15 EPS for the quarter, topping the consensus estimate of $1.10 by $0.05. The business had revenue of $213.69 million during the quarter, compared to analysts’ expectations of $216.36 million. Community Financial System had a return on equity of 11.24% and a net margin of 21.26%.The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. As a group, analysts forecast that Community Financial System, Inc. will post 4.74 earnings per share for the current year.

Community Financial System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be given a dividend of $0.47 per share. 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 dividend payout ratio (DPR) is 45.63%.

Wall Street Analyst Weigh In

CBU has been the topic of a number of research reports. Wall Street Zen upgraded shares of Community Financial System from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Piper Sandler lifted their price target on shares of Community Financial System from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Community Financial System from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $75.00 price objective on shares of Community Financial System in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.75.

Hedge Funds Weigh In On Community Financial System

A number of institutional investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its holdings in shares of Community Financial System by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 48,580 shares of the bank’s stock worth $2,763,000 after purchasing an additional 191 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Community Financial System by 1.0% during the second quarter. Lazard Asset Management LLC now owns 20,468 shares of the bank’s stock worth $1,164,000 after buying an additional 201 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Community Financial System by 1.8% in the fourth quarter. Truist Financial Corp now owns 12,205 shares of the bank’s stock valued at $701,000 after buying an additional 215 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of Community Financial System by 2.4% in the fourth quarter. Corient Private Wealth LLC now owns 10,032 shares of the bank’s stock valued at $577,000 after buying an additional 231 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Community Financial System by 0.3% during the second quarter. California Public Employees Retirement System now owns 92,254 shares of the bank’s stock valued at $5,246,000 after buying an additional 243 shares during 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.